Author Topic: WINE - Majestic Wine Plc  (Read 6088 times)

bjakes00

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Re: WINE - Majestic Wine Plc
« Reply #20 on: April 04, 2019, 01:24:04 PM »
Wanted to flag that it is worth reading the executive compensation part of the annual report. The company is clearly setup for and focused on creating shareholder value. The CEO turned down an increase in salary as growing the value of his stake in the company is far more meaningful in the long run. Additionally he gave up incremental stock based comp so that more of it could be allocated to employees and incentives aligned.
Another positive sign.


aglittell

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Re: WINE - Majestic Wine Plc
« Reply #21 on: April 04, 2019, 02:48:33 PM »
Gormley also owns upwards of 6% of the company, if I recall correctly.

whistlerbumps

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Re: WINE - Majestic Wine Plc
« Reply #22 on: April 05, 2019, 07:35:54 AM »
Yup.  Rowan owns ~6%, voluntarily waived his bonus entitlement in FY 17, and is not even the highest paid employee at his company.  He also previously declined his LTIP bonus and instead asked for it to be distributed to his staff.  Overall, I think he is highly aligned with shareholders and fully focused on delivering long-term value.

bjakes00

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Re: WINE - Majestic Wine Plc
« Reply #23 on: May 11, 2019, 03:00:28 PM »

whistlerbumps

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Re: WINE - Majestic Wine Plc
« Reply #24 on: August 02, 2019, 09:15:15 AM »
They sold the Majestic Retail and commercial division for 100mln with a potential additional 10mln to come from a rumored sale of Lay & Wheeler.  At these prices, I think you are getting a very cheap valuation on the remaining Naked business.

whistlerbumps

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Re: WINE - Majestic Wine Plc
« Reply #25 on: September 04, 2019, 03:10:09 PM »
Couple of updates here.

1) Naked won best wine club from USA Today

The top 10 winners in the category Best Wine Clubs are as follows:
   1. NakedWines.com
   2. Wine of the Month Club
   3. Underground Cellar
   4. Plonk Wine Club
   5. Firstleaf
   6. Winc Wine Club
   7. Through The Grapevine Natural Wine Club
   8. Primal Wine Club
   9. VINEBOX
   10. Wine Access
A panel of experts partnered with 10Best editors to pick the initial 20 nominees, and the top 10 winners were determined by popular vote.
Congratulations to all these winning wine clubs!
https://www.10best.com/awards/travel/best-wine-club

2) Naked competitor WINC (#6 above) is looking to raise its Series D at a $110mln valuation which is 2.69x 2018 revenues.
https://www.modernretail.co/startups/why-winc-is-turning-to-equity-crowdfunding-to-raise-capital/

WINC roughly half the size of Naked and is growing more slowly but Naked  is valued at 0.67x FY 4/19 sales.  At 2.69x 4/19 sales, Naked would be worth ~650p per share plus the proceeds from the Majestic Sale (~100p). 

Not saying that WINC's valuation is right but there is a long way between Naked's implied valuation currently and the valuation of a weaker peer.



peterism

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Re: WINE - Majestic Wine Plc
« Reply #26 on: September 08, 2019, 03:01:09 AM »
Thanks for posting this information!