logo-loader
viewNaked Wines

Majestic Wine model should lead to further market share, says Investec

wine_rack350_50ebf201ad37f.jpg

Majestic Wine (LON:MJW) is a service focused business which should continue to gain market share, says Investec, which has repeated its 'buy' stance on the stock.

It has a strong management team, offers future growth from both new stores and online, and delivers good free cash flow and dividends, says analyst Bethany Hocking.

It comes as the firm unveiled a rise in sales over what it called a "challenging" Christmas trading season.

From November 13 to December 31, the wine retailer saw like-for-like (LFL) sales rise 1.1% from a year earlier with total sales for the same period up 5.1%.

"This is a good result, in line with our expectations, and marks a stable trend from the 1.2% LFL for the 6 weeks to 12 Nov reported at the interims," said Hocking, who targets a price of 480p for the shares.

Majestic shares were unchanged today at 450 pence each.


 

Quick facts: Naked Wines

Price: 398.5 GBX

AIM:WINE
Market: AIM
Market Cap: £290.41 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Algernon Pharmaceuticals receives US FDA clearance for Phase 2b/3 human study

Algernon Pharmaceuticals Inc. (CSE: AGN-OTCQB: AGNPF) CEO Christopher Moreau joined Steve Darling from Proactive Vancouver with major news for the company that they have received clearance from the U.S. FDA for its multinational Phase 2b/3 study of Ifenprodil as a potential treatment for...

5 hours, 20 minutes ago

2 min read