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UPDATE 1-Majestic Wine's sales jump 15.3 percent in Christmas period
January 10, 2017 / 8:44 AM / a year ago

UPDATE 1-Majestic Wine's sales jump 15.3 percent in Christmas period

(Adds details, shares)

Jan 10 (Reuters) - Britain’s Majestic Wine Plc said group sales in the Christmas period rose 15.3 percent, aided by a strong performance in its retail and Naked Wine businesses.

Shares in the company rose as much as 4.1 percent to 337 pence at 0813 GMT.

Majestic’s group sales for the 10 weeks to Jan. 2 rose 15.3 percent compared with a 12.2 percent growth a year earlier.

Majestic Wine has 210 wine warehouses across the UK as well as two branches in France, while Naked Wines operates across the United States, Britain and Australia.

Comparable sales in its retail business grew by 7.5 percent and sales at Naked Wine rose nearly 30 percent.

The company generally gets nearly 30 percent of its annual sales during the Christmas period.

Majestic Wine said it was on track to deliver full-year results in line with market expectations.

Full-year revenue is expected at 445.2 million pounds with pretax profit for the year estimated at 11.3 million pounds, according to a company-provided consensus.

Majestic Wine has struggled due to competition from peers such as discount supermarkets Aldi and Lidl UK and online rivals offering rock-bottom prices.

The company is in the second year of it three-year turnaround plan. (Reporting by Rahul B in Bengaluru; Editing by Sunil Nair and Gopakumar Warrier)

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