Majestic sales slump is a first
The UK's leading chain of wine warehouses, Majestic Wine, has seen its first drop in sales since it began trading and admits it is facing a challenging Christmas after like-for-like sales in UK stores dropped 2.1% in the six months to the end of September 2008. Sales have slumped even faster in the last 5 weeks falling by 4.7%.
Champagne sales contributed to the decline falling by 6.4% in the six months to September with weaker demand from restaurants and other corporate customers. On a more positive note, the company said that sales to private customers had increased by 2.9%.