Member Article

Majestic Wines see profit increase, despite sales fall

Wine retailer Majestic Wines has posted a 3.9% rise in pre-tax profits to £9.2m, despite total sales being down on the year.

Like-for-like sales in UK retail stores were up 0.6% and online sales 14% on last year, now representing 9.8% of UK sales.

Total sales however decreased from £127.8m to £126m.Across the half-year Majestic opened nine new stores, and two since the end of September, taking the total outlets to 189.

Chief executive, Steve Lewis, said: “These results, achieved in a challenging economic environment and the wettest summer on record, display the resilience of the Majestic business. I am pleased that so many new customers are choosing to shop with Majestic.”

This was posted in Bdaily's Members' News section by Tom Keighley .