Majestic Wine to focus on digital sales after pretax profit decline
Watford-based wine specialist Majestic Wine has reported reduction in pretax profit to Â£7.7 million for the 26 weeks ending 29th September 2014, compared to Â£8.4 million for this period in 2013.
The retailer reported a rise in total group sales of 2.8% to Â£133.8 million from Â£130.2 million in 2013. Like for like sales are also up 2.8%.
The group has announced that the decline in pretax profit comes as a result of Â investments in infrastructure, technology and consumer insights to support future growth.
Online sales increased 12.3% to Â£12.9 million, now representing 10.8% of UK retail sales. Sales to business customers are also up 4.9% to Â£26.8 million.
The group relocated a distribution centre in July 2014 to a larger and more modern facility and moved to a new central support office following the end of the lease term on our previous facility.
Majestic has also announced the launch of a new craft spirits range for Christmas 2014
Steve Lewis, chief executive, said: “Majestic has a compelling proposition with a differentiated model, strong customer service ethos and a clear strategy to deliver growth.
“The 2015 financial year is one of investing to put in place the building blocks to deliver future growth and shareholder value and we are progressing to plan.”
This was posted in Bdaily's Members' News section by Ellen Forster.