Majestic Wine points to first results for multichannel transformation strategy
Majestic Wine says its fast growth in sales over Christmas reflects a good start for its multichannel transformation strategy.
Thirty per cent of the multichannel wine retailer's sales come in the critical Christmas period. Today Majestic said sales in the 10 weeks from October 27 to January 4 were up by 42.6% in total, thanks largely to the acquisition of Naked Wines last April. On a pro-forma basis, which assumes Naked Wines was part of the group during this period last year, sales were up by 12.2%.
Chief executive Rowan Gormley said the figures were encouraging, coming three months into a three-year transformation strategy that aims to simplify pricing, and improve the customer experience both in-store and online.
He said: "I am particularly heartened to see the Majestic Retail business grow as the impact of our better pricing, better service and better looking stores starts to take effect. However there is still much to do. We are only three months into our three year plan and although this performance is pleasing it is too early to call it a trend."