Gourmet Food, How-Tos, Videos & Cooking Tips - whatfoodrecipes
  • Home
  • Drinks
  • Desserts
  • Recipes
  • Healthy
  • Holiday
    • Christmas Food
  • National Cuisine
    • Chinese Food
  • Knowledge
  • News
No Result
View All Result
  • Home
  • Drinks
  • Desserts
  • Recipes
  • Healthy
  • Holiday
    • Christmas Food
  • National Cuisine
    • Chinese Food
  • Knowledge
  • News
No Result
View All Result
Gourmet Food, How-Tos, Videos & Cooking Tips - whatfoodrecipes
No Result
View All Result
ADVERTISEMENT

Naked Wines Reports 15% Sales Decline

Lucy by Lucy
11/12/2024
in News
Naked Wines Reports 15% Sales Decline
ADVERTISEMENT

Online wine retailer Naked Wines has released its performance review for the first half of the year, revealing a 15% drop in sales to £112.3 million. Despite this decline, management asserts that the company is in a stronger financial and strategic position.

In results covering the 26 weeks ending 30 September 2024, Naked Wines reported an adjusted EBIT loss of £3.1 million, a significant decrease from a profit of £5.3 million in the same period last year. However, the company noted that early peak season trading has been “solid,” with liquidity and cash flow showing improvement. These results align with the company’s previous guidance for the fiscal year 2025.

The statutory loss before tax stood at £5.6 million, an improvement from a loss of £9.7 million in the first half of the previous year. Liquidity also increased to £22.9 million, up from £20.1 million year-over-year, slightly exceeding the Group’s treasury policy target, partly due to stock reduction efforts.

ADVERTISEMENT

CEO Rodrigo Maza, who took the helm in February after serving as UK managing director, expressed confidence in the company’s direction. He emphasized the “robust financial foundations” and the loyalty of Naked Wines’ customer base. “Our strategic initiatives focused on customer acquisition and retention are yielding positive insights, and we are currently seeing solid trading during the peak season,” Maza stated.

ADVERTISEMENT

A performance review is currently underway to explore options for maximizing shareholder value, with a report expected at the end of the financial year. Maza also welcomed new CFO Dominic Neary, who joined in November from Mind Gym, and expressed eagerness to work together to prioritize cash flow, profitability, and growth.

Despite a 12% decline in active members (those with Angel or Wine Genie memberships) over the past year, the company reported a two-percentage-point increase in the retention of its core members—customers who have been with Naked Wines for two years or more—bringing the retention rate to 79%. Additionally, the likelihood of customers recommending the company to friends, measured by the net promoter score, rose from 73 to 76 in the last quarter.

In August, Naked Wines reported a pre-tax loss of £16.3 million for the fiscal year ending 1 April 2024, up from £15 million the previous year, with total sales down 18% to £290 million. Repeat business also fell by a quarter compared to the previous year, totaling £65 million. Despite these challenges, founder Rowan Gormley insisted that the company was making “real progress” in its turnaround efforts.

This follows the appointment of debt advisors in March 2024 to explore refinancing options and assess potential restructuring after Naked Wines’ share value dropped nearly a third over the past year.

In December 2023, Gormley increased his stake in the company by purchasing £7,700 worth of shares, marking his second investment round after he and other senior board members bought significant amounts of stock in early November. This followed a decline in share value after the company revised its full-year revenue expectations downward to a range of -12% to -16%. At that time, three of the leading team members collectively invested £75,000 in the company’s stock.

Related Topics:

  • FDA Moves to Ban Controversial Red Food Dye
  • Eastroc Beverage Eyes $1 Billion Hong Kong Listing
  • German Winery Champions Zero-Alcohol Wine as Demand Grows
Previous Post

In 2025, The Challenges Facing the Aged Liquor Industry

Next Post

Absolut and Little Moons Are Collaborating on Cocktails

Lucy

Lucy

Related Posts

How to Make a Celery Smoothie: A Step-by-Step Guide
Drinks

How to Make a Celery Smoothie: A Step-by-Step Guide

01/05/2025
How to Make a McDonald’s Mango Pineapple Smoothie?
Drinks

How to Make a McDonald’s Mango Pineapple Smoothie?

01/05/2025
How to Make Chinese Lamb Skewers? A Step-by-Step Guide
Chinese Food

How to Make Chinese Lamb Skewers? A Step-by-Step Guide

01/05/2025
How to Make Chinese Steamed Pork Buns? A Simple Guide
Chinese Food

How to Make Chinese Steamed Pork Buns? A Simple Guide

01/05/2025
Can Cream Cheese Cookies Be Frozen?
Desserts

Can Cream Cheese Cookies Be Frozen?

01/05/2025
how to store cream cheese after opening?
Desserts

how to store cream cheese after opening?

01/05/2025
Dunkin’ and Kar’s Nuts Launch Caramel Cold Brew and Frosted Donut Trail Mixes
News

Dunkin’ and Kar’s Nuts Launch Caramel Cold Brew and Frosted Donut Trail Mixes

01/05/2025
Starbucks Unveils 2025 Mother’s Day Drinkware Collection Featuring Floral Designs
News

Starbucks Unveils 2025 Mother’s Day Drinkware Collection Featuring Floral Designs

01/05/2025
How Can You Make Apple Cider Vinegar Taste Better?
Drinks

How Can You Make Apple Cider Vinegar Taste Better?

30/04/2025
Next Post
Absolut and Little Moons Are Collaborating on Cocktails

Absolut and Little Moons Are Collaborating on Cocktails

Dunkin’ Unveils First-Ever Holiday Sugar Cookie

Dunkin’ Unveils First-Ever Holiday Sugar Cookie

How Do You Make Mashed Potato Cakes

How Do You Make Mashed Potato Cakes

Tags

Apple Cider Vinegar British Custard Tart Buckwheat Noodles Caramel Pudding Cheesecake Chinese Dumplings Chinese Sauces Chinese Sausage Christmas Dinner Christmas Drinks Christmas Eve Dinner Christmas Snacks Deviled Eggs Diabetes Easter Appetizer Easter Bread Easter Dinner Easter Drink Easter Ham Hot Cocoa Italian Dessert Mascarpone Cheese Matcha Cake Mousse Cake Mung Bean Noodles Pumpkin Cheesecake Quiche Rice Noodles Roasted Chicken Salad Steamed Dumplings Steamed Fish Strawberry Cake Sweet Potato Noodles Thanksgiving Dinner Thanksgiving Side Dishes Tiramisu Trans Fatty Acids Valentine's Dinner Vegetarian Recipes Weight Loss Whole30 Plan Yangzhou Fried Rice

Recent Posts

How to Make a Celery Smoothie: A Step-by-Step Guide
Drinks

How to Make a Celery Smoothie: A Step-by-Step Guide

by Lucy
01/05/2025

Celery is not only a low-calorie, nutritious vegetable, but it is also packed with health benefits. Its crisp texture and...

How to Make a McDonald’s Mango Pineapple Smoothie?

How to Make a McDonald’s Mango Pineapple Smoothie?

01/05/2025
How to Make Chinese Lamb Skewers? A Step-by-Step Guide

How to Make Chinese Lamb Skewers? A Step-by-Step Guide

01/05/2025
How to Make Chinese Steamed Pork Buns? A Simple Guide

How to Make Chinese Steamed Pork Buns? A Simple Guide

01/05/2025
Can Cream Cheese Cookies Be Frozen?

Can Cream Cheese Cookies Be Frozen?

01/05/2025
how to store cream cheese after opening?

how to store cream cheese after opening?

01/05/2025
Dunkin’ and Kar’s Nuts Launch Caramel Cold Brew and Frosted Donut Trail Mixes

Dunkin’ and Kar’s Nuts Launch Caramel Cold Brew and Frosted Donut Trail Mixes

01/05/2025
Starbucks Unveils 2025 Mother’s Day Drinkware Collection Featuring Floral Designs

Starbucks Unveils 2025 Mother’s Day Drinkware Collection Featuring Floral Designs

01/05/2025

Drinks

How to Make a Celery Smoothie: A Step-by-Step Guide

How to Make a Celery Smoothie: A Step-by-Step Guide

01/05/2025
How to Make a McDonald’s Mango Pineapple Smoothie?

How to Make a McDonald’s Mango Pineapple Smoothie?

01/05/2025
How Can You Make Apple Cider Vinegar Taste Better?

How Can You Make Apple Cider Vinegar Taste Better?

30/04/2025
How Do You Make the Apple Cider Vinegar Drink?

How Do You Make the Apple Cider Vinegar Drink?

30/04/2025
Does Organic Apple Cider Vinegar Go Bad?

Does Organic Apple Cider Vinegar Go Bad?

30/04/2025
Is Hard Apple Cider Good for You?

Is Hard Apple Cider Good for You?

30/04/2025
ADVERTISEMENT
Gourmet Food, How-Tos, Videos & Cooking Tips - whatfoodrecipes

Welcome to our recipe hub! If you’re looking for delicious and easy-to-make recipes, then you’ve come to the right place. Our collection of recipes includes everything from quick weeknight meals to decadent desserts, so there’s something for everyone.

Recent Posts

  • How to Make a Celery Smoothie: A Step-by-Step Guide 01/05/2025
  • How to Make a McDonald’s Mango Pineapple Smoothie? 01/05/2025
  • How to Make Chinese Lamb Skewers? A Step-by-Step Guide 01/05/2025
  • How to Make Chinese Steamed Pork Buns? A Simple Guide 01/05/2025
  • Can Cream Cheese Cookies Be Frozen? 01/05/2025

TAGS

British Custard Tart Buckwheat Noodles Caramel Pudding Cheesecake Chinese Dumplings Chinese Sauces Chinese Sausage Christmas Dinner Christmas Drinks Christmas Eve Dinner Christmas Snacks Deviled Eggs Diabetes Easter Bread Easter Dinner Easter Ham

Useful Links

ABOUT US

Disclaimer

Privacy Policy

Copyright © 2024 whatfoodrecipes.com

No Result
View All Result
  • Home
  • News
  • Drinks
  • Desserts
  • National Cuisine

Copyright © 2024 Gourmet Food, How-Tos, Videos & Cooking Tips - whatfoodrecipes.com