News & Comment
Despite persistent speculation of slow trading and reduced levels of consumer borrowing, the annual flood of retail Christmas trading updates has kicked off in imperious fashion thanks to a 10.8 per cent rise in like-for-like sales at Majestic Wine. Elliott Davis reports.
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Wine retailer Majestic Wine cracked open another set of vintage results for the year to 1 April, with profits before tax raised 31 per cent to £5.9 million on revenues up from £86.8 million to £104.6 million. Elliott Davis reports.
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Shares in wine warehouse operator Majestic Wine, recommended in Growth Company Investor magazine last month at 365p, rose 15p to 430p today as it announced an 11 per cent rise in like-for-like sales over the Christmas period. Elliott Davis reports.
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Followers of Majestic Wine will be looking for a sparkling set of interim results on Monday, in light of chief executive Tim How's recent boasts of a 13.1 per cent rise in like-for-like sales between April and October. Elliott Davis reports.
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A strong final quarter, in which like-for-like sales increased by 15.6 per cent, spurred warehouse-based wine retailer Majestic Wines on to a £4.5 million full-year profit – 4.3 per cent ahead of last year. Elliott Davis reports.
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Majestic fails to keep the growth curve going writes Roxanna Mohseni
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Bubbly chief executive Tim How boasts of 'a good year boosted by millennial
celebrations'as the warehouse wine retailer revelled in a 28 per cent rise
(before exceptional costs) in pre-tax profits to £4.5 million for the year
to March 2000. Turnover, buoyed by seven new stores, rose 18 per cent to
£81.2 million. Roxanna Mohseni reports
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Recommendations
Wine seller Majestic keeps growing, despite the inclement retail climate. Burgeoning internet sales (up 38%), an increase in store openings (from six last year to the ‘eight to ten’ planned) and a still-growing wine market (4.3%) imply further success this year.
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The retail slowdown has finally left a dent in wine warehouse merchant Majestic, as interim sales grew at a slightly more leisurely pace than last year.
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Bucking the malaise that retailers have so far reported after the all important Christmas trading period, wine retailer Majestic enjoyed an excellent improvement of 10.4% in like-for-like sales for the nine weeks to January.
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It was always going to be nearly impossible for the wine retailer to beat last year's superb like-for-like sales, thanks to the gorgeous summer, but interim results to September remain full bodied.
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ASOS, the online fashion retailer, is easily our best stock of 2004. Recommended at 7p in February, the innovative group is now trading at 42p, an improvement of 500 per cent in a mere six months.
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Cautious optimism remains the order of the day in the markets, with an improvement in company earnings and an increase in corporate activity combining to entice investors big and small back to the market.
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Majestic Wine NO RECOMMENDATION 18/11/2002
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Majestic Wine NO RECOMMENDATION 24/06/2002
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Majestic Wine NO RECOMMENDATION 07/01/2002
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Majestic Wine is a company with a unique formula, and it is one that clearly works.
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Majestic Wine NO RECOMMENDATION 19/11/2001
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Majestic Wine NO RECOMMENDATION 15/11/2001
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Majestic Wine NO RECOMMENDATION 25/06/2001
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Majestic Wine NO RECOMMENDATION 20/11/2000
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Majestic Wine NO RECOMMENDATION 22/06/2000
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Majestic Wine NO RECOMMENDATION 07/01/2000
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Majestic Wine NO RECOMMENDATION 23/11/1999
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Majestic Wine NO RECOMMENDATION 22/06/1999
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Sector Articles
UK retail sales posted their biggest fall in 22 years – so says a survey from the Confederation of British Industry.
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Philip Green's proposals to take over Marks & Spencer have thrown up questions about the wisdom of backing a company whose shares are predominantly held by its executive directors
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Aim celebrated reaching 700 constituents just before Christmas, as it welcomed Debt Free Direct and Dickinson Legg to the fold. There was also a £50 million fundraising for EPIC Brand Investments, and a slew of Christmas trading updates from retail leisure companies. These were mostly good, although plenty more Aim companies picked the very quiet trading period over the break to slip out somewhat less appetising news.
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People have been saying it for a long time now, but the fact is that this prolonged bear market has thrown up some nice-looking opportunities across all indices and sectors – but especially in the smaller-cap sector. The flight of investors large and small has left a number of quality performers on fetching-looking ratings, some of them ridiculously low.
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The Aim Index has generally remained depressed of late, having slipped 3 per cent to 590.9, though spirits were raised on 17 October when the junior market's practitioners gathered in London for the Aim Awards. But, while comedian David Baddiel left with his tail between his legs after being booed off stage, Majestic Wine was in finer spirits, walking off with the Aim Company of the Year award.
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