Any one know why the share price for MJW has fallen off a cliff? They had a good year to March 2004 and prelim results are coming out soon. Don't tell me we are all so upset by Iraq that we've all stopped buying booze.

StockMarketWire.com
Majestic Wine said total UK store sales for the 10 weeks of Christmas trading from 28 October to 5 January 2015, were up 3.7%.

Over the same period like for like UK store sales growth was 1.1%. This performance brings the like for like UK store sales growth to 2.0% forthe first 40 weeks of the financial year.

The Christmas trading period was particularly challenging characterised by increased levels of competitive promotional activity to attract customers into store and online.

Whilst Majestic traded effectively over the period the Company invested 50 basis points of gross margin ensuring pricing remained competitive in this more promotional environment.

Steve Lewis, Chief Executive, said:
"Majestic delivered like for like sales growth of 1.1% in a difficult Christmas trading period characterised by promotional activity and we are now focused on delivering our final quarter's trading. We anticipate this competitive pricing environment will continue throughout much of 2015."

Investec note yesterday:
"Majestic’s Christmas performance has fallen short of our H2 forecast with a far more promotional environment hitting margins. We downgrade FY15E PBT by 6% to £22m and FY16E by 8%. This is clearly disappointing as H1 results pointed to a stable business with positive KPI movements. With yet another downgrade, concern over strategy & future growth potential is likely to overhang the shares until the actions from the expected strategic update in June start to come through. TP and recommendation placed under review.
UK store LFL + 1.1% for the 10 weeks to 5 Jan, which is behind our H2 LFL estimate of +2.2%. While disappointing, last year’s LFL comparable was reasonably strong (+2.8%). However, the market was particularly competitive with increased promotional activity resulting in a gross margin fall of -50bps vs our H2 forecast of -14bps. B2B fared better according to management, accounting for about one third of LFL growth, with the real pressure on the direct to consumer side.
Downgrade FY15E PBT by 6% to £22.0m (FY14 PBT £23.8m). While sales comparables are easier for the rest of FY15 (an estimated LFL of -1.1% in the last 16 weeks of FY14) and with infrastructure investment weighted to H1, we now assume recent sales momentum and price investment continues in FY15. The company expects the competitive pricing environment to remain for much of 2015, so we cut FY16E PBT by 8%, though we still expect year-on-year PBT growth to resume as there are c. £1m of non-recurring costs in FY15E.
Target price and recommendation under review. 2015 was always flagged as a year of infrastructure investment. However, with yet another downgrade, strategic concerns and a question over growth prospects is likely to weigh on the share price. Key for improving sentiment, we believe, is that the actions from the expected strategic update in June, together with the recent implementation of CRM targeting and a £5 price point, kick start growth again."

StockMarketWire.com
Majestic Wines is to acquire Naked Wines for total consideration of up to £70m, which includes about £50m payable on completion in cash, plus up to £20m contingent consideration payable in Majestic shares.

Cash consideration is being funded by new debt facilities. Naked Wines is a customer-funded international online wine business to create an international, multi-channel specialist wine retailing group.

The transaction is expected to be enhancing to fully diluted earnings per share in FY 2017. Rowan Gormley, founder and CEO of Naked Wines, has been appointed as CEO of the enlarged Majestic. Highlights:

· The transaction creates a significant strategic opportunity for both businesses by sharing complementary strengths: Naked Wines' online and e-commerce skills and Majestic's national store network. The transaction also opens up attractive international growth in the USA and Australia. Majestic and Naked Wines will continue to operate as independent brands

· Naked Wines has an excellent growth track record. For the year ended 31 December 2014 sales of £74 million, were up 40% year on year, with an EBITDA loss of £3.3 million. It currently has over 300,000 customers funding over 130 winemakers, underpinned by large and growing wine markets

· The Naked Wines senior team will remain with the business and will receive over 70% of their potential consideration in Majestic's ordinary shares, which will all be subject to performance criteria

· Majestic expects to announce adjusted pre-tax profit of approximately £21 million for the year ended 31 March 2015

· The final dividend for FY 2015 and the interim dividend for FY 2016 will be withheld, with future dividends to be progressively re-instated by FY 2018

A radical move that was perhaps needed by Majestic but a shame that it has come at the cost of dividends in the short term at least.

Read our latest research note at http://tinyurl.com/mseew2u

StockMarketWire.com
Majestic Wine's FY pretax profit has slipped to £18.4m, from £23.8m. Revenue was £284.5m, from £278.2m. Cost of sales was higher, and gross profit margin was lower. Distribution and administrative costs slipped lower.

There was no dividend.

CEO Rowan Gormley said:
"Whilst my review of the business is ongoing it is obvious that we need to make investments to reinvigorate Majestic Wine. These investments will initially suppress profit in the short term but I am confident we can rebuild momentum in this excellent business.

"At the same time we aim to maintain the international growth trajectory of Naked Wine and crystallise the benefits of having the two businesses in the same Group. I am confident that we will create significant value for our shareholders over the medium term."

StockMarketWire.com
Majestic Wine has launched Naked Wines' Click & Collect service offering across the UK, enabling its 150,000 'Angel' customers the option of collecting their wine free of charge from their local Majestic store.

Following the acquisition of Naked Wines in April 2015 and in line with the strategy to share the complementary strengths of both businesses, Majestic Wine has been trialling Click and Collect in 22 stores across the UK for Naked Wines' customers.

To-date over 2,900 orders have been placed using the Click & Collect service. As a result of the success of this trial and positive feedback that has been received, the service will now be rolled out across the country to all 213 Majestic Wine stores.

For no extra charge, Naked Wines' customers can now choose to collect their delivery from any of Majestic's stores, which will hold Naked Wines' customers wine for up to five days. Alternatively, customers can still opt for home delivery, and in either case can select their preferred delivery day.

Naked Wines' stock will remain separate from Majestic's, so wines that have been crowd funded by Naked Wines "Angels" will still be exclusively available to them.

StockMarketWire.com
Majestic Wine is implementing a new pricing strategy throughout its store network and online, including removal of the six bottle minimum purchase rule.

This new pricing proposition has been created with the aim of making the shopping experience simpler and easier for both new and existing customers.

The decision to also remove the six bottle minimum purchase rule follows the previously announced successful trial in selected Majestic stores since Spring 2015 proving popular with both new and existing customers.

In addition, for this Christmas, if customers mix any six wines and spirits, they get:

· At least 10% off and up to 33% off all wines and spirits

· Money Back Guarantee - a full refund, without delay or debate, if you're not satisfied with any product

· Free delivery and free glass hire.

Interims http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12582493.html

Stan

You're not drinking Wine now are you, you big northern jessie

he's stopped and hence the further slump
hadn't you noticed that yate's wine lodges have almost disappeared?

About 70 bars left these days https://en.wikipedia.org/wiki/Yates%27s

Canaccord Genuity today reaffirms its hold investment rating on Majestic Wine PLC (LON:MJW) and set its price target at 310p.

StockMarketWire.com
Majestic Wine said it delivered about 30% of total sales during the period Oct. 27, 2015, to Jan. 4, 2016. Total sales growth was 42.6% compared to the same period last year, boosted by the acquisition of Naked Wines.

On a pro forma basis1 over the Period Group sales were up 12.2% (based on constant foreign exchange rates, excluding movement in en primeur sales). Further detail is provided in the table below.

Majestic Retail like for like sales grew 7.3% in the Period (versus decline of 1.7% in comparator period), supported by the previously indicated strategic investments to reinvigorate sales growth with a new and simplified pricing policy and improved customer experience in store and on-line.

As expected these investments resulted in higher costs and a slightly lower percentage gross margin during the period.

CEO Rowan Gormley commented:

"This is an encouraging result. Majestic Commercial and Naked Wines continued to grow strongly, and I am particularly heartened to see the Majestic Retail business grow as the impact of our better pricing, better service and better looking stores starts to take effect.

"However there is still much to do. We are only three months into our three year plan and although this performance is pleasing it is too early to call it a trend.

"We remain focused on our values of looking after our brilliant teams and suppliers and thank them for their support during the initial steps of transforming Majestic into a truly fantastic business."

Liberum Capital today reaffirms its buy investment rating on Majestic Wine PLC (LON:MJW) and raised its price target to 500p (from 400p).

StockMarketWire.com
Majestic Wine said that Naked Wines, the online crowd-funding platform, has successfully hit a key milestone of a record GBP100m in sales since March 31, 2015, the start of the current financial year.

The company's drive to provide its 'angel' customers with exclusive direct access to independent winemakers through divisions in the UK, USA and Australia has resulted in over 300,000 'mature' angels - who have been customers for over four months - supporting more than 100 independent winemakers in 14 countries.

Reaching this key target highlights the continued success that Naked Wines has demonstrated since its launch in 2008 by focusing on its online social distribution model to deliver service, quality and authenticity to customers passionate about wine.

Naked Wines' customers get access to exclusive deals whilst ensuring that winemakers get the investment, support and feedback to grow and improve their businesses and wines.

Achieving GBP100m sales is in line with market expectations for Naked Wines for the financial year ending 28 March 2016.

Peel Hunt today initiates coverage of Majestic Wine PLC (LON:WINE) with a buy investment rating and price target of 540p.

StockMarketWire.com
Majestic Wine (WINE) reported a boost in like-for-like sales, driven by strong growth in the US.

However, pre-tax profit plummeted nearly 75% year-over-year to £4.7 million, which the company blamed trading conditions remaining tough in the UK, which is expected to remain that way.

Group Chief Executive Rowan Gormley said: "We have taken the first step on a long journey - it was a good start but it is just the first step. "Early signs are that the plan is starting to work. Strong sales figures reflect the hard work being done on the ground by the whole team. "The management re-organisation is now complete, I am delighted with the teams we have in place across the group.

"At Naked Wines we had a belter of a year - breaking through the £100m sales barrier and delivering a maiden profit. "We still have lots to do and although we are on course to deliver our three year plan, it won't be without challenges.

"Our plan however remains unchanged, as does our goal - £500m sales by 2019."

Liberum Capital today reaffirms its buy investment rating on Majestic Wine PLC (LON:WINE) and raised its price target to 510p (from 500p).