BULL POINTS:
â– Best-in-class customer service
â– Gaining market share from failed competitors
BEAR POINTS:
â– Shares trading close to record high
â– Weak UK wine market
â– Underlying growth rates slowing
â– Constraints to store opening programme
IC TIP:
Sell
at
451p
In a tough consumer environment, retailers need to be at the top of their game, and no one can accuse Majestic Wine of being anything other than a top-class operator. That it has gone from strength-to-strength in a market that has seen three major competitors collapse over the past three years is testament to how good a job its management team, under the leadership of chief executive Steve Lewis, is doing.