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BRIEF-Majestic Wine says group sales up 15.3 percent for Christmas period
January 10, 2017 / 7:14 AM / a year ago

BRIEF-Majestic Wine says group sales up 15.3 percent for Christmas period

Jan 10 (Reuters) - Majestic Wine Plc :

* Christmas trading statement

* Group sales up 15.3 pct - on track to be in line with full year expectations

* Group sales for 10 week christmas trading period ending 2 January 2017 increased by 15.3 pct versus same period in prior year

* On an underlying basis increase was 12.4 pct.

* Group delivers c.30 pct of total annual sales during christmas trading period.

* Majestic retail had its biggest ever christmas with like for like sales up 7.5 pct, on top of 7.3 pct like for like growth in christmas last year

* Approximately 0.5 pct of growth was one-off due to transfer of sales from closed stores.

* Group’s gross margin percentage was around 1 percentage point lower, versus same period in prior year

* Our maintained focus on cost control means that profits are expected to be in line with market expectations.

* “At this stage we are not predicting a change to long term margin expectations, but we need to retain flexibility to compete in a competitive market”

* Both Naked Wines and Majestic Commercial traded in line with expectations and Lay & Wheeler has maintained its strong growth. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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