Majestic Wine toasts online success as profits jump |
Alex Beckett, thegrocer.co.uk 16 November 2009 In: Retailers, Industry news
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Online orders have helped Majestic Wine record a profit increase of 9% to £6.1m, according to a sales update this morning.
Like-for-like sales at the wine warehouse chain rose 5.4% in the six months to 30 September, with total sales up £12.6m to £106.7m (2008: £94.1m).
Majestic pointed to its £6m acquisition of fine wine specialist Lay & Wheeler in March as a factor in the improved performance but also revealed that online sales had increased a whopping 24.6% on last year to represent 9.2% of total retail sales.
“It is encouraging that in the current economic conditions our loyal customers continue to find the Majestic proposition compelling,” said chief executive Steve Lewis.
The recession was blamed for a 6.9% sales decline to Majestic’s business customers.
Read more
Majestic goes national with six-bottle minimum (1 September 2009)
Can off-licences fight back? (analysis; 15 August 2009)
Majestic hit by profits collapse (15 June 2009)
Majestic swallows wine specialist in £5m deal (9 March 2009)