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Majestic Wine shares sour as booze seller swings to a loss

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The group said the losses were linked to its radical plans to sell off its 200-store retail estate and focus instead on its fast-growing online division, Naked Wines. While sales nudged up 1.5 per cent to £268million at its stores, the firm admitted that this was hard won, with heavy promotions and discounts eating into its profits.

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