Majestic Wine, the UK's largest wine specialist, has announced total sales growth of 42.6% over the Christmas period.
The results for the 10 weeks from 27 October to 4 January 2016 were boosted by Majestic’s acquisition of Naked Wines which it purchased in April. On a pro forma basis over the period — that is, assuming Naked Wines had been owned in the same period of the previous year — group sales were up 12.2%. Sales at Naked Wines grew 28.9% during the period, while Majestic Commercial like-for-like sales grew by 10.2%.
CEO Rowan Gormley said higher costs associated with strategic investments to boost sales and improve the customer experience in-store and online had led to a slightly lower percentage gross margin during the period.
Gormley said: 'This is an encouraging result. Majestic Commercial and Naked Wines continued to grow strongly, and I am particularly heartened to see the Majestic Retail business grow as the impact of our better pricing, better service and better looking stores starts to take effect.
'However there is still much to do. We are only three months into our three-year plan and although this performance is pleasing it is too early to call it a trend.
'I take my hat off to the 1,000+ people we have, from Aberdeen to Sydney, who worked flat out during the festive season and deserve a large glass of wine. The teams have embraced our changes and worked exceptionally hard to deliver a better experience for our customers.'
The three-year plan aims to grow shareholder value on the long term by earning customers loyalty, having competitive offers and 'unrivalled personal service', and hiring then retaining expert staff.