Online wine retailer’s shares plummet
By Sarah Wood | 27th June 2022
Online wine retailer, Naked Wines, saw shares fall by almost 40 per cent last week.
The retailer warned shareholders its sales would take a hit this year due to the uncertainty in the economy, as reported by Retail Gazette.
Naked Wines warned of a gradual decline in customer retention and slower growth, meaning sales could go down by as much as four per cent in the year to the end of March.
It said it intends to trade at around breakeven this year, taking into account economic uncertainty and customers' changing spending priorities.
In the year to the end of March, Naked Wines had a customer retention rate of 80 per cent, down from 88 per cent the previous year.
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