** Wine warehouse chain Majestic Wine slides 14 pctto 2-mth lows as Christmas trading dampened by vast industrypromotions that hit both its brick-and-mortar & onlinebusinesses
** Co cautions that competitive pricing environment willcontinue throughout much of 2015
** "With yet another downgrade, concern over strategy &future growth potential is likely to overhang the shares untilthe actions from the expected strategic update in June start tocome through," Investec says
** Broker places TP & recommendation for Majestic Wine underreview
** Saying that Christmas performance has fallen short of itsH2 forecast, Investec cuts forecast for FY 2015 pretax profit by6 pct to 22 mln pounds, and FY 2016 by 8 pct to 23 mln pounds
** Majestic Wine says LfL sales growth at UK stores duringthe 10-wks of Christmas was up 1.1 pct
** It invested 50 basis points of gross margin to ensurethat pricing remained competitive in the heightened promotionalenvironment (RM: esha.vaish.thomsonreuters.com@reuters.net)
