Naked Wines warns over weak gross sales and delays annual outcomes
N
aked Wines has revealed that gross sales had been worse than anticipated over the previous three months and its founder has returned to assist steer the agency’s turnaround.
The drinks retailer noticed shares slide after it additionally advised buyers that its full-year monetary outcomes for the yr to April 3, which had been due for launch on Thursday, will now be delayed.
It revealed that gross sales over the three months since April 3 have been “below expectations”, because it blamed “reduced levels of new customer recruitment”.
The subscription enterprise mentioned it’s prone to ship gross sales of round £300 million for the present monetary yr if present buying and selling tendencies proceed.
I’m excited to return to a a lot bigger enterprise that has an thrilling future forward
Naked added that it noticed revenues of round £350 million for the yr to April and can be on observe for earnings earlier than tax and curiosity in the direction of the highest of its £15 million to £18 million goal vary.
In a separate inventory market assertion, the agency mentioned that present chairman David Stead will depart his function after simply 9 months.
He shall be changed by founder and former chief government Rowan Gormley, who has been working as an adviser to Naked over its transformation plan since late final yr.
Mr Gormley mentioned: “My thanks to David and the team for executing a challenging transition in a turbulent market.
“With a proven ability to deliver profit we now progress to the next stage, and develop plans to deliver profitable, sustainable growth.
“I am excited to return to a much larger business that has an exciting future ahead and I look forward to working closely with the reshaped board to deliver on Naked’s full potential.”
Shares within the firm had been down 8.1% at 90.9p on Tuesday afternoon.