THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Naked Wines upgrades underlying profit forecast

Naked Wines has said solid festive trading has led it to increase its full year adjusted EBIT outlook despite medium term conditions remaining challenging. The company… View Article

FOOD & DRINK

Naked Wines upgrades underlying profit forecast

Naked Wines has said solid festive trading has led it to increase its full year adjusted EBIT outlook despite medium term conditions remaining challenging.

The company now expects EBIT to come in at £13 million to £17 million compared to a previous guidance of £9 million to £13 million.

While total sales were flat in its third quarter ending 26 December, sales in the UK and Australia fell by 1% and 3% respectively. However sales in the US recorded an uplift of 2%.

Naked Wines is expecting to spend £20 million to £24 million on new customer investment in the current financial year, which is around 40% below FY22 levels. It said this is likely to result in a modest decline in revenue in FY24, although the company will be evaluating a number of options to improve this outlook .

Nick Devlin, group chief executive of Naked Wines, said: “Against a challenging market environment the robust performance of our repeat customers reflects the enduring appeal of Naked’s core proposition combined with strong operational performance – with increased throughput from our investment in warehouse automation supporting an especially strong peak in the UK.

“Costs have remained tightly controlled with SG&A spend outlook at the bottom end of our guidance. Combining this with repeat contribution profit at the top end of expectations we now expect FY23 adjusted EBIT to be in the range of £13 million to £17 million.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News