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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Majestic Wine | MJW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 388.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 388.25 | 388.25 |
| Top Posts |
|---|
Posted at 17/11/2016 09:37 by waldron Majestic Wine shares flow higher as turnaround plan bites08:32 17 Nov 2016 The firm has been under pressure to kickstart growth and in September issued a profit warning Majestic Wine shares flow higher as turnaround plan bites The firm reinstated an interim dividend of 1.5p a share, underlining future confidence Shares in wine merchant Majestic plc (LON:MJW) flowed a little higher as it told investors its turnaround plan was working and it unveiled a 13% increase in sales in the first half. The firm has been under pressure to kickstart growth and in September issued a profit warning, forecasting pre-tax earnings before interest for the full year to April 2017 would be lower than market expectations. In the latest six months to September 26, revenue was £205mln (2015: £181.6mln). The loss for the period was £4.4mln, compared to a profit of £4.3mln in the same period last year. The loss recognised £4.5mln of adjusted items, largely relating to the group's acquisition of online retailer Naked Wines in 2015. The firm reinstated an interim dividend of 1.5p a share, underlining future confidence. Chief executive Rowan Gormley said: "Now that we have built a solid platform for future growth, future cost growth will be much lower. "We are reiterating our commitment to hitting our goal of delivering £500m sales by 2019, and we believe that will translate into healthy profit growth now that the step change in investment is complete." The period saw a 26.7% increase in sales at Naked and a 5.7% rise like-for-like in the retail division. Majestic commercial was up 1.2% Its Lay & Wheeler fine wine group was firmly back in growth, with a 27.8% increase in sales, due largely to the huge positive impact of a new management team. House broker Liberum rates shares a 'buy' and targets 380p. "The dynamic model being created is a far cry from the old Majestic," it says. The transition towards a 'return on investment' focus via opex driven growth was always going to create a short, albeit sharp decline in these first half results, it notes. "There are signs of positive momentum which, should they continue, drive outperformance." Shares added 1.08% to 305p. |
Posted at 07/1/2016 11:49 by market sniper3 Majestic Wine PLC (MJW) Earns “Buy” Rating from Liberum CapitalJanuary 7th, 2016 by ABMN Staff Majestic Wine PLC logoMajestic Wine PLC (LON:MJW)‘s stock had its “buy” rating reiterated by equities researchers at Liberum Capital in a note issued to investors on Thursday, AnalystRatings.Net reports. They currently have a GBX 400 ($5.88) price objective on the stock. Liberum Capital’s price target points to a potential upside of 31.44% from the company’s previous close. Majestic Wine PLC (LON:MJW) opened at 304.31 on Thursday. The stock has a 50 day moving average price of GBX 317.35 and a 200 day moving average price of GBX 374.13. The stock’s market cap is GBX 199.97 million. Majestic Wine PLC has a 52 week low of GBX 273.25 and a 52 week high of GBX 480.00. Several other equities analysts also recently weighed in on the company. Panmure Gordon reiterated a “sell” rating and set a GBX 320 ($4.70) target price on shares of Majestic Wine PLC in a research report on Monday, September 14th. Investec restated a “buy” rating and set a GBX 400 ($5.88) price target on shares of Majestic Wine PLC in a research note on Tuesday, December 15th. Finally, Canaccord Genuity restated a “hold” rating and set a GBX 310 ($4.56) price target on shares of Majestic Wine PLC in a research note on Tuesday, December 15th. Majestic Wine PLC is a United Kingdom-based holding company, which is engaged in retailing of wines, beers and spirits. The Company’s segments include Majestic Wine Warehouses, Lay & Wheeler and Majestic Wine Calais. Majestic Wine Warehouses is a wine specialist in the United Kingdom selling wine by the mixed case. Lay & Wheeler is a fine wine merchant engaged in en primeur sales, cellarage and broking of customer reserves. Majestic Wine Calais is a retailer-based in Calais selling to the United Kingdom consumers on lower rate of alcohol duty in France. It offers around 82 types of wines to commercial customers. The Company operates around 212 stores in the United Kingdom. The Company’s subsidiaries include Majestic Wine Warehouses Limited, Les Celliers de Calais S.A.S., Majestic Wine Employee Share Ownership Trust Limited, Vinotheque Holdings Limited, WBI Holdco Limited and Lay & Wheeler Limited. |
Posted at 07/1/2016 08:39 by market sniper3 AND Sales up against VERY SOFT AND DISAPPOINTING SALES LAST YEAR.Majestic Retail like for like sales grew 7.3% in the Period (versus decline of 1.7% in comparator period), Investors being played here on these results, nothing more than average, not even that. OK better than last year but no great shakes. |
Posted at 14/9/2015 15:19 by trytotakeiteasy take the growth of Alid, Lidl, convenience supermarkets, online only such as Ocado and where does that leave Majestic? Naked Wines could easily be a fad.I think the shares of Majestic Wine have a certain amount of hype value on the basis that the new CEO is a "genius" and that Naked Wines will turn things around. I'm not so sure on either and except some medium-term disappointment for investors. |
Posted at 28/7/2015 08:22 by cockneyrebel Liberum out with a buy and a £5 target:"The announcement confirming the roll-out of Click & Collect across the Majestic Wine network for Naked customers is step 1 in many of the positive integration benefits that will arise. The ability to leverage Majestic Wine's physical store presence will prove a key support in building substantial more market share in the UK. We feel it will take time to transform the investment case away from a traditional store roll-out model to one that offers investors international growth and a proven online model. However this in our view underlies the scale of the opportunity for future share price outperformance. BUY." All imo CR |
Posted at 19/6/2015 07:56 by cestnous I.C> todayMajestic sacrifices dividend Investors may hope for a turnaround now that Rowan Gormley has taken the reins at Majestic Wine (MJW). Mr Gormley arrived as part of April’s £70m acquisition of his own company, Naked Wines. But the results of an ongoing strategic review won’t be available until half-year results are published in six months’ time. For the year to March 2015 – prior to Mr Gormley’s arrival – the group waived the final dividend to cover the cost of the deal, as had been expected. Even the group calls the period “challenging&# Yet Majestic’s market reach could now expand eightfold, thanks to Naked Wines’ established footprint in Australia and the US. Similarly, Naked Wines’ well-developed online platform should boost Majestic’s own limited online capabilities. However, Mr Gormley warns this will take time and money. An extra £3m could be spent in the first half of the current financial year alone, but the expansion of the store estate will slow to between 225 and 250, compared with a previous target of 330. Improving Majestic’s e-commerce business is high on the agenda. Last year online sales rose by more than 12 per cent and now account for 12.1 per cent of its total UK retail sales. Mr Gormley wants the website, the newly launched mobile app and retail stores to be complimentary and “work together” so that customers are confident shopping across all channels. Analysts at Investec expect pre-tax profit of £18m for the year to March 2016, giving EPS of 19.1p, down from £20.9m and 24.1p last year. C The market reacted anxiously to the changes taking place at Majestic – the shares dropped nearly 4 per cent on the back of these results, probably reflecting the guidance on higher costs. Mr Gormley has his work cut out integrating the businesses to achieve the holy grail of retailing: a seamless multi-channel operation. Majestic has a strong market position, but given the fall-away in profits and the strategic upheaval a forward PE ratio of 22 looks very steep. HR Sell |
Posted at 10/4/2015 14:45 by randomambler Some more thoughts on today's announcement after a bit of consideration.In one sweeping move they're buying Naked Wines for 70M and installing the founder of NW as the new CEO for the group. I certainly didn't see this coming but Majestic needed to do something to shake up the business and this bold acquisition certainly fits the bill. In the same statement they mention that pre-tax earnings for the year will come in at around 21M. This is a bit of a profit warning as this is around 10% down on last year's figure of 23.8M and hidden within this is some further bad news; last year the H2 earnings came in at 14.2M while this year the guidance is now for 12.4M in H2 (which includes Xmas). So there's a second-half drop of 13% which is an acceleration from the reported H1 drop (although there will be interest paid here from the net debt position). At the same time sales are actually up ("Since Majestic's Christmas trading update on 7 January 2015, total store sales have grown 4.1%, up 1.5% on a LFL basis.") which means that margins are down - either as a result of promotional pricing or increased costs. A somewhat worrying statement is that March was poor ("January and February were in line with expectations but March was weaker with adverse foreign exchange movements in March") and that FX movements played a part in this. I wonder if these will reverse and what the size of the loss is here. The other bad news is that the final dividend for 2015 is being axed along with the interim dividend for 2016 - with the only guidance on future dividends being that they will be incrementally re-instated out to 2018. Another surprise given that one of the attractions of Majestic Wine (LON:MJW) is its yield and there's no guarantee of it becoming a high-yielder again. So I think that this statement is a bit of a curate's egg... Pros: - New CEO looks very dynamic and has a proven track-record in the wine business - Naked has a real focus on customer service and this seems to come from the top (see hxxp://www.nakedwine - Majestic needed to stop its expansion plans and come up with something new to refresh the business - Group may start to attract attention in the market and may get re-rated in time - Majestic business is very cash-generative and should be able to repay debt fairly quickly with much reduced capex and dividend payouts Cons: - New CEO is likely to kitchen-sink whatever he can in the Majestic accounts and this could be messy - No dividends for a year and no real guarantee of a good yield in the future - I'm unconvinced by the synergies in that Majestic already has an online presence and Naked has a very good delivery setup of its own (and Naked wines aren't going to appear in Majestic stores) - Management teams are being retained on both sides so there's no stripping out of duplicated costs - The businesses will be operated separately so they'll both bear their current advertising and acquisition costs - A hefty amount of debt is being taken on and interest payments may amount to around 10% of pre-tax earnings - Naked is currently loss-making and will thus act as another drag on earnings in the short-term - Exposure to US and Australia isn't obviously beneficial for Majestic stores - Some Naked investors/customers will leave as see this as a takeover by a nasty corporate giant Overall I do view this as a transformational deal for Majestic but I'm not sure that the reasons given for the merger are all that compelling (compared to Shell taking over BG for example). There's a heap of execution risk here with one struggling business taking over a loss-making one but if they can carve out an improved market niche then things could turn out well. Rowan Gormley has it all to play for and his efforts will certainly be closely watched! |
Posted at 10/4/2015 10:13 by randomambler Well this deal is a bit of a surprise isn't it? Bold though and also creative and risky. The new CEO looks to have a pretty good track record with Virgin Money, Virgin Wines and Naked Wines; a real emphasis on customer service. He's getting some flack from NW investors but he's taking it on the chin: |
Posted at 10/4/2015 09:16 by jazza MJW customer list grew from 631,000 to 643,000 to end-Sept 2014Naked wines had 250,000 at the time of the article below. I believe it is now 300,000 with 6,000 on the waiting list (which given my place on it, is being processed about 150-200 per day). hxxp://www.cityam.co The boutique online retailer, whose customers, or angels, invest over £2m each month towards future orders, said group sales were up nearly 40 per cent over the Christmas period on 2013. Over 250,000 investors have now signed up as investors, which means it will be able to raise £70m in crowd funding this year. |
Posted at 10/4/2015 09:07 by soundbuy MJW customer for 15 odd yrs till moved to Naked.......hopefullWhat does this mean for you? 1.Better wines. We’ll be getting more freedom to invest where it matters, the juice. Expect even better quality, and less stock-outs of your favourites on the site 2.Wider range. Majestic has a team of wine buyers who know regions we don’t (like Burgundy and the Rhône), and can help us find the kind of winemakers you love, and get them Naked 3.More convenient service. If you’re not suited to home deliveries we are planning to offer Click & Collect from Majestic’s 200+ branches. In case you were wondering... 1.We’re going to be the same Naked Wines. I will be taking over as CEO of the combined group. So if you thought Naked was going to get lost in a bigger company, think again 2.No, we are not selling out. The Naked management team will be shareholders in the new group... you ain’t getting rid of us that easily 3.Majestic did the deal precisely because they love the Naked ethos – so that won’t be changing 4.We will be offering Click & Collect from Majestic stores – but you won’t find Naked wines for sale in Majestic, or vice versa 5.Your money is completely safe. You’re probably not aware, but our original investors guaranteed your money. Majestic will be taking over that guarantee. |
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