Majestic Wine toasts sales growth
Majestic Wine said it was on track for higher growth as it fell into the red for the six months to September.
The retailer posted a pre-tax loss of £4.4m, compared with a profit of £4.5m for the same period last year, and said it had been focusing on boosting sales rather than the bottom line.
Majestic said the loss was largely due to a failed marketing campaign for its Naked Wine business.
Like-for-like sales rose 5.7% in the 26-week period.
Shares jumped 6.3% to 320.7p in morning trading in London.
The firm reiterated its pledge to hit annual sales of £500m by 2019.
Its Naked Wine... read more
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