Christmas sales up for Majestic Wine

<p>Majestic Wine saw its sales rise during the festive period.</p>

Majestic Wine has confirmed it saw a rise in its sales over the Christmas period.

The retailer announced in its latest financial results that its sales, excluding store openings, were up by 2.8 per cent in the ten weeks to January 6th.

The chief executive, Steve Lewis, stated that December had started slowly for the company but soon picked up, while November was described as strong.

"We had a very, very strong finish in the last two weeks before Christmas and in the runup to New Year as well. Increasingly New Year is important to us. People are shopping little and frequently so they came in for Christmas and then again for New Year," he said.

Cloudy Bay sauvignon blanc was among the wines Mr Lewis picked out as among the best performing wines for the firm during the course of the festive period.

Despite the positive results for the retailer, its share price has fallen slightly today (January 8th) on the back of the news. By 14:12 GMT, stocks were over two per cent down for the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.