Specialist retailer Naked Wines has posted an increase in full-year sales and expects results to be in line with expectations after it beat customer retention expectations.
Naked Wines reported sales up 5% year on year on a constant currency basis and ahead 77% versus two years ago.
The sales retention rate in the year to March 28 was 80% compared to guidance of the “mid-70s”. Repeat customer sales increased 13% year on year.
The direct-to-consumer business, which will report its full-year results in June, said adjusted EBIT was in the ”low single digits”.
Naked Wines chief executive Nick Devlin said: “Our unique model offers a win for both winemakers and consumers and is backed by attractive and well-proven unit economics.
”Our results reflect the hard work and high-quality execution of our teams around the globe and I am especially pleased to see the improvements to our customer experience and product range reflected in sustained retention rates above our expectations.”
Naked Wines reported that its base of ‘angel investors’ – customers who make deposits into an account each month – increased 9% to 964,000 over the year.
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