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US push of Naked Wines adds brilliance to closed sales

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aked Wines today saw blockade revenue and rapid growth in the $ 20 billion US market.

AIM-listed online merchants reported total sales of £ 340m for the year to April, up 68%, and North American sales of £ 161.7m, up nearly 80% year-on-year. did.

The front door delivery company said it is currently paying more attention to the United States, which is currently the largest market, has high profit margins and accounts for almost half of total sales.

The company reported a pre-tax loss of £ 10.7m from £ 5.4m in the previous year. This is what the boss invested in a £ 50m investment in customer offers and other expansion moves. The annual number of active subscribers increased by 53% to 886,000, “improved retention”.

The company has more than doubled its warehouse capacity over the past year, and bosses have highlighted £ 85.1m of cash on hand at the end of the year available to help implement growth plans.

CEO Nick Devlin told Standard that the United States is “a top priority,” and said he was confident that he could continue to do business with many of his lockdown era subscribers.

He states: “The question everyone is asking about online retailers and what happens after Covid … I think Naked is one of the things people have discovered. And” Why am I doing something different? Do you want to? ” And I think you’re seeing it go through the numbers. Sales to members increased by 30% compared to last year, and two years ago this time by 96%. This has effectively doubled the scale of our business in two years.

“Many people who tried us last spring or summer were stuck, so today we have nearly 900,000 members around the world, up 50% from last year and sales to our members. It’s growing steadily-that’s where we ultimately make money. “

Independent retail analyst Nick Bab said, “Given the cost of acquiring new customers, it’s surprising that losses actually increased slightly, but investors are relieved to hear that sales are still increasing. Would be. ”

Naked wine stocks fell nearly 3% on Friday morning.

US push of Naked Wines adds brilliance to closed sales

Source link US push of Naked Wines adds brilliance to closed sales

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