BOOKINGS: 020 8288 0314

Refreshingly fun tasting events
ThirtyFifty - Hens

Wine News

Majestic numbers disappoint but its business is poised for revolution

This week Majestic disappointed the market and saw its share price drop. Over the year shares are down from £4.50 to £3.07. The business made a loss for the first half of the year, due to sluggish sales in the UK and continued high investment in the US.

Rowan Gormley CEO has been investing in the Naked Wine business, also owned by Majestic. Their investment in the states is showing results with the US the fastest growing part of the business, up 19.3% and now worth 15% of sales. International business now accounts for 20% of Majestic's turnover, with online sales in all countries accounting for 45% of revenue.

Majestic's domestic retail business is suffering with some stores closing (albeit slowly) according to brokers Peel Hunt.