Majestic Wine (AIM:MJW) - it’s tough in the wine world, time to take a look!
Majestic Wine has announced a somewhat disappointing Christmas Trading Statement, although probably on the lines that many might have anticipated.
There remains a cracking little business lurking here which seemingly doesn't need too much fixing
Total UK store sales for the 10 weeks of Christmas trading from 28 October to 5 January 2015, were up a modest 3.7%. Over the same period like for like UK store sales growth was only 1.1%. This performance brings the like for like UK store sales growth to 2.0% for the first 40 weeks of the financial year. The announcement continued how the Christmas trading period was particularly challenging characterised by increased levels of competitive promotional activity to attract customers into store and online. Whilst Majestic traded effectively over the period the Company invested 50 basis points of gross…