Fine wine news

Majestic Wine has reported a four per cent increase in like-for-like sales over the festive period.

The announcement led to shares in the wine merchant of 15 per cent as it becomes the latest wine retailer to defy the economic gloom on the high street.

According to the retailer, demand for French wine was stronger over the period than it had been before and sales to restaurants and gastropubs also helped.

However, just as other merchants have witnessed, sales of Champagne have been disappointing at a time when they are usually strong. Instead, demand of sparkling wine and prosecco has increased.

More expensive wine was also popular over the celebratory period. Chief executive Steve Lewis explained that the average price of a bottle sold at Majestic was £7.13, a rise of seven per cent.

Wine merchants largely struggled this year, with the administration of Oddbins, but ended 2011 on a high with increased sales and a return in trading from the ill-fated retailer.

Illustrating just how confident some retailers are, London's first Italian-only wine merchant has now opened.

Posted by John Yates