Majestic Wine PLC Christmas Trading Statement (2830B)
January 09 2018 - 1:00AM
UK Regulatory
TIDMWINE
RNS Number : 2830B
Majestic Wine PLC
09 January 2018
For Immediate Release 9 January 2018
Majestic Wine PLC
("Majestic")
Christmas Trading Statement
Group sales up 3.2% - a robust performance in a tough market -
on track to meet full year expectations (2)
Majestic Wine PLC announces that Group sales, for the 10 week
Christmas trading period ending 1 January 2018, increased by 3.2%
versus the same period in the prior year. On an underlying (1)
basis the increase was 4.1%. The Group delivers c.30% of total
annual sales during the Christmas trading period.
Majestic Retail delivered a good result with sales up 1.2% (1.3%
like-for-like) versus tough comparatives of 6.2% (7.5%
like-for-like) last year.
The Group's Gross Margin percentage was broadly flat year on
year.
Subject to continued satisfactory trading, the Group remains on
track to achieve current market expectations and to accelerate
sales growth in the medium term by increasing our investment in new
customer acquisition.
Divisional performance at constant exchange rates:
Division Sales
------------------------------ -------
%YoY
------------------------------ -------
Majestic Retail +1.2%
------------------------------ -------
Naked Wines +13.0%
------------------------------ -------
Naked Wines UK +7.4%
------------------------------ -------
Naked Wines USA +13.0%
------------------------------ -------
Naked Wines Australia +33.1%
------------------------------ -------
Majestic Commercial -4.6%
------------------------------ -------
Lay & Wheeler -4.7%
------------------------------ -------
Total +4.1%
------------------------------ -------
Majestic Wine also announces Joshua Lincoln has been appointed
Retail & Managing Director of Majestic Retail with immediate
effect. Josh has been Customer Director at Majestic Retail since
2016. Prior to this he oversaw Sales and Service in Naked Wines in
the UK, USA and Australia.
Rowan Gormley, Chief Executive, commented:
"The team performed brilliantly.
The fact that we have been able to grow sales and maintain
margins shows that our winning formula of fabulous customer service
from delightful people and delicious wines at fair prices works
even when times are tough.
I am very pleased to announce that Josh Lincoln has been
appointed Retail & Managing Director. Josh's promotion is
richly deserved having transformed our store network into an
entrepreneurial retail proposition during his time as Customer
Director.
We are on track to achieve our GBP500m sales goal by 2019, on
track to deliver market expectations for the current financial
year, and on track to accelerate investment in new customers, new
winemakers and more fantastic wines."
--------------------------------------------------------------------------------------------------------------------------------------
Notes:
(1) Underlying movement (a) includes en primeur revenues in year
of order not year of fulfilment (b) is calculated using constant FX
rates for translation of the comparative period
(2) Analyst consensus estimates can be found on www.majesticwineplc.co.uk
For further information, please contact:
Majestic Wine PLC Tel: 01923 298 200
Rowan Gormley, Chief Executive
Officer
James Crawford, Chief Financial Tel: 07891 206239
Officer gabby.clinkard@majestic.co.uk
Gabriella Clinkard, Public & Investor
Relations
Investec (NOMAD & Joint Broker) Tel: 0207 597 5970
Garry Levin / David Flin / David
Anderson / Carlton Nelson
Liberum (Joint Broker) Tel: 020 3100 2222
Peter Tracey / Richard Bootle
Instinctif Partners (PR Agency) Tel: 0207 457 2020
Damian Reece / George Yeomans or 07931 598 593
About Majestic Wine PLC:
Majestic Wine PLC is a leading wine specialist, operating in
four separate divisions, each with the fundamental goal of
delivering sustained growth in shareholder value by doing the right
thing for the Group's customers, suppliers and people:
--Majestic Retail - The UK's largest specialist wine retailer,
with 210 branches in the UK and 2 in France. We help people find
the wines they will love through over 1000 highly trained,
specialist store team members. Reported sales for the year ended 3
April 2017 were GBP262.2m.
--Naked Wines - Funds independent winemakers to make exclusive
wines at preferential prices which we pass onto customers. Naked
Wines currently has 177 winemakers in 16 countries and 371,000
Mature Angels (Customers). Reported sales for the full year ended 3
April 2017 were GBP144.3m.
--Majestic Commercial - A specialist on-trade supplier who aims
to support businesses to make their wine lists more profitable,
with the unique advantage of running their supply chain through
Majestic Retail stores. Reported sales for the year ended 3 April
2017 were GBP46.6m.
--Lay and Wheeler - A specialist fine wine merchant. Lay &
Wheeler aims to be a trusted guide for people who love fine wine,
supplying the world's finest wines with a personal service.
Reported sales for the year ended 3 April 2017 were GBP12.3m.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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