Majestic progress as drinkers opt for quality wines

A crusade by the boss of Majestic Wine against “mediocre” booze appeared to be paying off today as more shoppers stocked up on premium English sparkling wine — and magnums.

The company said on Tuesday same-store sales grew 3.2% in the 10 weeks to January 1 while sales at its Naked Wine business, which Majestic bought for £70 million in 2015, increased by 13%.

Chief executive Rowan Gormley said: “The UK needs a wine specialist and we’re the last one standing. We hold our own against mediocre wine, and didn’t chuck discounts around.”

Shoppers swapped champagne for English wine, sherry and magnums, with sales up 62%.

However, the commercial arm, which supplies wines to pubs and restaurants, dragged down the performance as it fell 4.6%. Retail sales were up 1.2%.

Majestic, which is in the middle of a turnaround plan, is on track to meet its £500 million sales target by 2019.

Analysts at Liberum described trading as a “commendable performance”.