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.

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).