Virgin Wines
This coverage examines Virgin Wines’ commercial activities and strategic position within the UK retail and wine markets. Reporting highlights developments in its direct-to-consumer operations, financial results, wholesale partnerships, digital marketing strategies, and leadership changes — providing insights relevant to retail executives, brand managers, and professionals overseeing wine retail, e-commerce, and supplier relationships.
-
Oct- 2024 -23 OctoberOnline & Digital
Virgin Wines returns to profitability in FY24
Virgin Wines has reported a return to profitability in the year to 28 June 2024, as profit before tax rose by £2.4m to £1.7m, up from a previous loss of £700k. While total revenues held steady at £59m, the wine retailer’s adjusted EBITDA rose 59% to £2.8m and gross profits…
Read More » -
4 OctoberNews-In-Brief
Today’s news in brief-4/10/24
Shein is moving ahead with plans for a highly anticipated London IPO, reportedly set to hold informal talks with investors across Europe. According to sources, Shein’s roadshows aim to assess investor interest ahead of regulatory approval from both UK and Chinese authorities. Having confidentially filed for a £50bn float in…
Read More » -
4 OctoberSupermarkets
Virgin Wines strikes partnership with Ocado
Virgin Wines has announced that it has agreed a strategic partnership with Ocado.com, commencing from this week, which will give the online supermarket’s customers access to an exclusive selection of 50 wines from Virgin’s portfolio. Previously available only to Virgin Wines customers and sold as part of multi-bottle cases, this…
Read More » -
Jul- 2024 -25 JulyNews
Today’s news in brief-25/7/24
Burberry is on the lookout for a new chair to replace Gerry Murphy amidst challenging times in the luxury goods market. Following a profit warning and CEO change, Burberry aims to rejuvenate its struggling business, highlighting ongoing difficulties exacerbated by weakened demand from the Chinese market. Hammerson remains optimistic despite…
Read More » -
25 JulyOnline & Digital
Virgin Wines EBITDA hits £2.8m
Online wine retailer Virgin Wines UK has reported a 260% increase in EBITDA to £2.8m, with its profit-before-tax also expected to be £1.95, up from a loss of £430k, for the year ended 30 June 2024. Meanwhile, its revenue was in line with the prior year at £59m (FY23: £59m).…
Read More » -
2 JulyNews
Today’s news in brief-2/7/24
Shop price inflation in the UK saw a significant slowdown in June, dropping to 0.2% from 0.6% in May, marking the lowest rate since October 2021. This decline was driven by a 1% decrease in non-food prices and a deceleration in food inflation to 2.5%. Helen Dickinson of the BRC…
Read More » -
2 JulyPeople Moves
Virgin Wines makes three leadership appointments
Virgin Wines, one of the UK’s largest direct-to-consumer online wine retailers, has announced three key senior management appointments to bolster its leadership team. Danny Cooper has been appointed chief information officer (CIO) having worked in IT roles for almost three decades. Initially holding Infrastructure and Architecture roles within JP Morgan…
Read More » -
Jan- 2024 -22 JanuaryNews
Today’s news in brief- 22/1/24
John Lewis, as part of its turnaround strategy, has reportedly alerted employees to the possibility of smaller pay rises. The retailer is considering changes in salary policies, aiming for more flexibility and sustainability. Dame Sharon White’s management team would gain control over performance-linked pay rises, potentially leading to fewer staff…
Read More » -
22 JanuaryOnline & Digital
Virgin Wines revenues rise 2% in H1
Virgin Wines has revealed that total revenues rose by 2% year-on-year to £34.3m in the six months ended 29 December, despite a “subdued” consumer economic landscape that impacted the retailer last year. In a trading update, the direct-to-consumer wine retailer reported a “significant improvement in profitability”, which it attributed to…
Read More » -
Oct- 2023 -25 OctoberNews
Today’s news in brief-25/10/23
Asos has pushed back the release of its FY23 results to 1 November 2023, citing the need for its auditor, PwC, to complete planned testing. PwC has assured that the outstanding procedures are of limited scope. Asos confirmed its performance up to 3 September 2023 aligns with the post-close trading…
Read More »
