New Majestic Wine boss Rowan Gormley has spelled out his vision for the future of the company in a bid to return the company to profit growth.
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Majestic has appointed Anita Balchandani as a non-executive director with effect from June 10.Anita Balchandani, 41, is a partner and sector head of UK retail practice for international consultancy firm OC&C Strategy.
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Majestic Wines has bought Naked Wines for £70 million and named Rowan Gormley chief executive officer of the new combined group.
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Majestic Wine's chief executive Steve Lewis is leaving the retailer with immediate effect, on the back of poor festive sales.
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Majestic Wine's profits have slipped 10.5% to £8.5 million, although group sales are up 2.8% to £133.8 million in the first half of the year.
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Majestic has asked some of its suppliers to contribute a 4p per bottle retrospective payment to help fund its new warehouse in Hemel Hempstead, Harpers understands.
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Leading Majestic wine buyers have defended the chain from taking share from independent merchants and demanded better service from major wine suppliers with "laughable" demands.
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In the second of her series of 'Buyer to Buyer' interviews, former Somerfield head wine buyer, Angela Mount, talks to Matt Pym and Chris Hardy of Majestic Wines about their buying strategy and what they are looking for from their suppliers.
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Speaking to Harpers.co.uk following the group's results yesterday, Steve Lewis described the group's total sales growth of 1.4% to £278.2 million as "not where I'd want it to be", adding that the combination of poor harvests and duty increases had made for "difficult trading conditions".
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Majestic Wine has reported a small dip in like-for-like sales, down 0.1%, but fine wine sales have rocketed by a fifth while Provence rosé is up 84%.
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