Majestic Wine reported strong growth in sales over the festive season and achieved its highest-ever market share, despite fierce competition from the supermarkets.
Majestic sales rose 21.1% over the eight weeks to December 26, 2022, compared to pre-Covid levels in 2019.
Sales increased 0.2% compared to 2021, with Majestic achieving a record market share despite what it called “heavy promotional activity across supermarkets”.
The wine specialist said the growth in sales was partly due to it enjoying its busiest-ever trading day in its 42-year history on December 23, as customers stocked up on drinks for the festive period.
The retailer’s prices across wines, beers and spirits were also 2% cheaper compared to last year.
Majestic has reported strong growth in sales and investment during the pandemic and operates more than 200 stores across the UK with 12 new stores opening during the past three years.
Five new stores are set to open in 2023, including in Harpenden, Bournemouth and Saltash, in a bid to add 20 branches to its portfolio.
Majestic boss John Colley said: “Despite a very tough trading environment and the ongoing cost-of-living crisis, Majestic achieved a strong Christmas performance that is significantly higher than pre-Covid levels.
“We are under no illusions as to how tough the next 12 months will be, but I am more confident than ever that we have the right strategy and backing in place to emerge from the cost-of-living crisis as an even stronger business.”
- Never miss a story – sign up to Retail Week’s breaking news alerts
No comments yet