Glass half full at Majestic
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“The glass continues to be more than half full” at Majestic Wines, said Martin Flanagan in The Scotsman.
Britain’s biggest wine warehouse group grew profits by 18% in the six months to the end of September on a 5.5% increase in like-for-like sales.
Majestic has been turning in this sort of “sparkling performance” for a decade. Consumers’ growing preference for wine over beer and a reputation for good wine at fair prices have underpinned its success, said Susie Mesure in The Independent.
Low costs help too: instead of using “fancy racks”, it just stacks boxes on top of each other in warehouses. Add in high standards of customer service, said Harry Wallop in The Daily Telegraph, and you have “a potent combination”.
Still, it’s not immune to the consumer slowdown, said David Blackwell in the FT. Like-for-like sales growth – buoyed by a series of special promotions – was down from 7.5% last year, and has slipped to 5% in the past ten weeks.
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