3/16/2023 0 Comments Naked wines![]() This contribution is yours to spend on the wines you want, when you want them. By Geoffrey Smith - Shares in Naked Wines (LON:WINEW) jumped 26 on Thursday as the struggling wine merchant said that its measures to stabilize the business are gaining traction. Peel Hunt cut its target price for Naked Wines to 120p from 240p, versus the closing price yesterday of 94.4p. When you contribute 40/month into your own Naked Wines piggy-bank, we call you an Angel. That is coming home to roost and there is an overhaul of strategy that means a much lower marketing spend on attracting new customers," they said.Įxisting Angels are performing well, the Peel Hunt analysts noted, "so that underlying pool of EBIT is still there and is now more visible (hence the upgrades today), but this was always about the top line and growth there is set to stall." ![]() The former chief winemaker at Craggy Range now makes wine exclusively for Naked Wines. (1,001 reviews) Vivino: Top 2 of wines in the world. "Too much optimism about the future meant that management took on too much stock and added too many costs. Rod Easthope Reserve Sauvignon Blanc Hawke's Bay. ![]() "We welcome the return of the old CFO James Crawford who is clearly making sensible decisions and the renegotiated covenants removes short-term concerns," the Liberum analysts said.Īs for Peel Hunt's analysts, they noted that Naked Wines management were no longer pursuing top-line growth. Liberum removed its 'sell' rating on the shares, moving to 'hold'. The lower level of marketing and general and admin costs will result in lower sales in the near-term but should translate to underlying earnings of £9mln-£13mln. The Naked Wines PLC strategic review is "sensible", according to analysts at Liberum Capital, and "should allay some fears about the covenants", said those at fellow City broker Peel Hunt.Ĭutting costs, significantly reducing marketing spending and slowing intake of stock were the top-line points from the online wine seller's half-year trading statement-cum-strategy update, with the plan to drive an improvement in paybacks and return the group to profitability. Is Naked Wines worth it Check out the Reverse Wine Snob review How it works, the best wines and tips to get your moneys worth. Naked Wines has made around 6 of its workforce redundant after a failed growth strategy forced a restructuring. Online wine retailer and membership club Naked Wines held a press tasting in London this September, its first Naked-only trade tasting in several years, showcasing 100 wines from its UK market portfolio.
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