Last checked at 7 Jan 2015 07:00
For immediate release | 7 January 2015 |
Majestic Wine PLC
Christmas Trading Statement
Majestic Wine PLC, the UK's largest wine specialist announces that, total UK store sales for the 10 weeks of Christmas trading from 28 October to 5 January 2015, were up 3.7%. Over the same period like for like UK store sales growth was 1.1%. This performance brings the like for like UK store sales growth to 2.0% forthe first 40 weeks of the financial year.
The Christmas trading period was particularly challenging characterised by increased levels of competitive promotional activity to attract customers into store and online. Whilst Majestic traded effectively over the period the Company invested 50 basis points of gross margin ensuring pricing remained competitive in this more promotional environment.
Steve Lewis, Chief Executive, said:
"Majestic delivered like for like sales growth of 1.1% in a difficult Christmas trading period characterised by promotional activity and we are now focused on delivering our final quarter's trading. We anticipate this competitive pricing environment will continue throughout much of 2015."
For further information, please contact:
Majestic Wine PLC Steve Lewis Nigel Alldritt (Analysts)
| Tel: 01923 298200 |
Buchanan Charles Ryland Gabriella Clinkard | Tel: 020 7466 5000 |
Investec Patrick Robb Carlton Nelson David Andersen | Tel: 020 7597 5970 |