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.
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Oct- 2023 -25 OctoberOnline & Digital
Virgin Wines sales fall by £10m in FY23
Virgin Wines has seen revenues fall to £59m in FY23, down from £69.2m, as the group battled with economic headwinds and the launch of a new Warehouse Management System over the period. As well as a fall in sales, profit before tax fell to £0.6m, down from £6.2m, while adjusted…
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Jul- 2023 -17 JulyOnline & Digital
Virgin Wines FY trading meets forecast
Virgin Wines has reported that full-year revenues are expected to be £59m, and profits of “no less than £0.5m” for the year ended 30 June 2023, with trading in line with expectations. It comes as the group said it continued to execute its “disciplined strategic approach” to customer acquisition, which…
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7 JulyHigh Street
Virgin Wines agrees strategic partnership with WH Smith
Virgin Wines has announced it has signed a new strategic partnership with WH Smith Travel which will see it stocked in a number of stores. The company said the agreement represents “significant progress” for Virgin Wines as part of the group’s strategic focus on commercial partnerships. An exclusively curated range…
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May- 2023 -4 MayOnline & Digital
Virgin Wines sales to be lower than expected in FY23
Virgin Wines expects FY23 sales to be “slightly” lower than market expectations at around £60m, with the group’s underlying profit before tax to be in the region of £0.5m and £1m. This comes as the wine retailer experienced operational issues with its software, which affected the implementation of the new…
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Mar- 2023 -14 MarchOnline & Digital
Virgin Wines launches business review as profits plummet
Virgin Wines has launched a full review of the business after profits tumbled to £0.1m in its half-year results, down from £3.2m the prior year, as the business was hit by challenges “particularly” over the peak Christmas trading period. In the six months ended 31 December 2022, total revenues were…
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Oct- 2022 -26 OctoberHigh Street
Virgin Wines posts profit upturn as it warns of oncoming crisis
Virgin Wines has said that its profits before tax rose to £5.1m for the year ended 1 July 2022, up from £1.7m in 2021. While group revenues fell year-on-year from £73.6m to £69.2m, it remains 63% above pre-pandemic levels three years ago. Meanwhile the group’s cash balance was down from…
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Aug- 2022 -2 AugustAnalysis
Naked Wines on uneven footing for the future
The specialty wine retailer, Naked Wines, has experienced a downward trend in its sales, with full-year sales rising by only 3% after peak pandemic trading, and shares in the company down 4.2% at 158.10p each. The company’s chief financial officer even departed the company by “mutual agreement” amid a recent…
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Jul- 2022 -28 JulyEconomy
Virgin Wines revenue up 63% on pre-Covid levels
Online wine retailer, Virgin Wines, has revealed that the company’s revenue is up 63% on a three-year, pre-Covid basis, compared to the FY19 result of £42.4m, highlighting that the business has retained much of the substantial growth achieved during the pandemic. However, it is reported that the company has a…
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Mar- 2022 -15 MarchOnline & Digital
Virgin Wines earnings slip in H1
Virgin Wines has seen its EBITDA fall to £3.7m in the half-year ended 31 December 2021, down from £4.5m the previous year, as it grappled with changing consumer habits and rising costs across the business. The group’s profit also slipped slightly in the period, falling from £3.4m in H1 2021…
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Feb- 2022 -3 FebruaryOnline & Digital
Virgin Wines revenues surge 55% to £40.5m
Virgin Wines UK plc, the online wine retailer, has reported its revenues surged 55% to £40.5m in the six months ending 31 December 2021, compared to £26.2m in H1 FY20. The group also witnessed repeat sales from core channels growing 6.2% year-on-year to £29.6m, and up 59% compared to H1…
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