Virgin Wines ‘confident’ of hitting profit target after ‘positive’ half-year Retail Virgin Wines has said it is confident it will meet its profit target after reporting "positive" half-year results.
Virgin Wines sees sales tick up despite ‘subdued’ consumer landscape Virgin Wines Virgin Wines has reported that sales ticked up in the second half of 2023, despite a “subdued consumer economic landscape” which has weighed heavily on the sector's bottom line over the last year.
Virgin Wines expects customers to dodge the pub for drinks at home RAISING A GLASS Virgin Wines has anticipated customers will host more social gatherings at home rather than heading to the pub. In annual results, the online wine retailer said it was “mindful” of the potential impact of the cost of living crunch on frequency and order values. However, it said it expected people would be “more likely to [...]
Virgin Wines: Share price falls and major review announced after Christmas ‘challenges’ drink into profits March 14, 2023 Virgin Wines‘ share price tumbled this morning as the online wine bank reveals it is undertaking a full review after a shift in consumer confidence which knocked profits in the first quarter. Shares in the online wine retailer slumped 1.50 per cent when the market opened this morning as the group revealed its profits before [...]
Virgin Wines battles shifting consumer habits as share earnings slip March 15, 2022 Virgin Wines earnings per share and pre-tax profit have stunted in the past six months, as the online wine retailer battles shifting consumer habits. With spiralling inflation and soaring energy prices, UK consumers are increasingly holding back splurging on non-necessities such as wine. The company, a subsidiary of the Virgin Group, earned an average of [...]
Virgin Wines lowers guidance following Omicron and supply chain issues February 3, 2022 Online wine retailer Virgin Wines was forced today to lower its profit and revenue for the year ending June 2022 following disruption caused by Omicron and supply chain issues. “Like many businesses, we experienced several operational challenges in the Period due to well-publicised, external, macroeconomic factors including labour market shortages caused by the emergence of [...]
Supply chain woes: Virgin Wines stocks up for Christmas year in advance October 28, 2021 Virgin Wines revenue has jumped around a third to £73.6m in the past year, buoyed by strong levels of customer demand. In comparison with pre-pandemic figures, revenue has soared 73 per cent in the year to 30 June. Meanwhile, profit before tax and exceptional items has surged 86 per cent to £5.2m. The retailer has [...]
Wine sellers bottle it as middle-class customers scale back amid cost of living crisis October 25, 2023 Virgin Wines' chief executive officer, Jay Wright, is "confident" in the group's longer-term prospects — despite a 10 per cent drop in share price.
“E-commerce winner” Virgin Wines confident in post-pandemic sales July 20, 2021 Wine subscription service Virgin Wines raised its annual financial forecasts as a result of strong customer demand, it told markets this morning. Their customer base grew by 24 per cent in the previous 12 months. The pandemic saw people at home stock their bars and fridges causing increased demand in alcoholic products over lockdowns, as [...]
Booze subscription service Virgin Wines to list on AIM in £100m move February 16, 2021 Booze subscription service Virgin Wines to list on AIM in £100m move