Majestic Wine sales go flat in ‘challenging’ trade
The firm had enjoyed a 2.8 per cent rise in like-for-like sales over the key festive season, but chief executive Steve Lewis said it has been hit by “challenging trading conditions” since then.
He added: “With two weeks to go until our year end we now expect like for like sales to be flat for the financial year as a whole.”
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Hide AdLewis also said Majestic plans to invest in new office space and a larger warehouse to support its ambitions of growing its store network to more than 300, and this spending would dent profit growth next year.