Majestic Wine has Scotland in its sights
Majestic Wine is gearing up to open a fifth Edinburgh store and sees scope for another as it strengthens its position north of the Border.
The launch of the site, in Newcraighall, next March will give the chain 15 outlets in Scotland, out of a UK-wide portfolio of about 210. Chief executive Steve Lewis said there was “a bit more room” for expansion north of the Border, particularly around Glasgow where there are three branches at present. He also highlighted strong trading at the group’s Aberdeen and Inverness sites.
Majestic yesterday toasted a 2.8 per cent rise in like-for-like sales at UK stores with sales of fine wine – priced at more than £20 a bottle – up by 22 per cent.
Investment costs pushed interim profits down 10.5 per cent to £8.5 million. Investec analysts upgraded their rating to “buy”.
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