Majestic Wine has reported rising sales over Christmas, the drink retailer’s most critical trading period.
The company saw a 3.2% rise in sales in the 10 weeks to January 1, with like-for-like retail sales up 1.3% compared to the same period last year.
Approximately 30% of the firm’s total annual revenues come over the festive period.
Majestic’s online business, Naked Wines, saw sales jump 13% as CEO Rowan Gormley stressed again the company’s aim to hit £50m in revenues by 2019.
“The fact that we have been able to grow sales and maintain margins shows that our winning formula of fabulous customer service from delightful people and delicious wines at fair prices works even when times are tough.
“We are on track to achieve our £500m sales goal by 2019, on track to deliver market expectations for the current financial year, and on track to accelerate investment in new customers, new winemakers and more fantastic wines.”
In November, Majestic said it was time to put its “foot on the gas” as it moved back into profit.
The national wine warehouse retailer, which has 210 branches in the UK and two in France, posted bottom line pre-tax profits of £3.1m for the six months to October 2 against losses of £4.4m a year earlier.
The company's share price was up almost 3.5% in early morning trading at 455.50.