Majestic Wine’s share price has plunged more than 25% after the company issued a profit warning because of a failed marketing campaign in the US and weak sales to business customers. “If the pound remains down over the long term, at some point wine prices will have to go up to reflect that, and that will be the same for all retailers. Regal wines from Majestic | David Williams Read moreAfter making an unexpected profit for Majestic last year, Naked Wines is expected to make a small loss in the current financial year. Despite the profit warning, Majestic said it was on track to resume dividend payments this year and to achieve its goal of £500m sales by 2019. Connor Campbell, an analyst at Spreadex, said: “It looked like someone at Majestic Wine had smashed a crate of claret over its chart on Wednesday, with the stock plunging 25%.

Source: The Guardian September 21, 2016 07:50 UTC