Price cuts add sparkle to Majestic

MAJESTIC Wine cut its prices to help families enjoy a Christmas drink amid the spiralling cost of living.

The UK’s biggest wine retailer said its bottles were 2pc cheaper in the festive period than a year earlier. As a result, the business saw beer, wine and spirits fly off the shelves, helping the retailer to its second highest Christmas sales.

Majestic, which has more than 200 stores across the UK, said it was lifted by a boom in demand for English sparkling wine, with sales up a fifth from a year earlier. Cava, Spain’s Champagne challenger, was also popular, with sales up by almost a third.

Overall sales at the business in the two months to Boxing Day were 0.2pc higher than a year earlier and 21.1pc above prepandemic levels.

It said the results cap ‘another year of transformation’ for the business, having returned to ‘growth and stability’.