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Naked Wines full year performance driven by repeat customer sales and strong retention

Naked Wines has seen its full year group sales increase by 5% on a constant currency basis as improvements to its customer experience and product range paid off…. View Article

FOOD AND DRINK NEWS UK

Naked Wines full year performance driven by repeat customer sales and strong retention

Naked Wines has seen its full year group sales increase by 5% on a constant currency basis as improvements to its customer experience and product range paid off.

In a trading update, the company said sales climbed by 77% at constant currency in the year to 28 March compared to two years ago, prior to the impact of the pandemic.

Shawn Tabak, Naked Wines chief financial officer, said: “We delivered full year results in-line with our expectations highlighted by strong execution, expense control and positive EBIT.  Our balance sheet remains sound; after a year of building back our inventory levels globally, we ended our fiscal year with cash of approximately £40 million.”

Meanwhile, the company’s sales retention was 80% versus its mid-70s guidance and repeat customer sales increased by 13% year-on-year on a constant currency basis.

Nick Devlin, Naked Wines chief executive, added: “I am especially pleased to see the improvements to our customer experience and product range reflected in sustained retention rates above our expectations. I look forward to further outlining our plans for long-term growth at our full year results presentation in June,”

 

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