Naked Wines meets FY25 expectations as turnaround continues

Naked Wines has reported that its FY25 performance remains in line with expectations ahead of its annual results, expected this summer.

In an update for the year ending 31 March, the retailer said it achieved sales of around £250m, in line with management’s expectations across all markets. Underlying profit, excluding inventory liquidation, is expected to fall within the £4m to £9m range.

However, due to its actions to speed up releasing capital from inventory, it said its inventory liquidation costs would be at the top end of its guidance range of £2m and £7m.

It added that this would benefit its cash during FY25 and beyond.

Naked Wines also highlighted its ongoing focus on finalising a limited distribution policy with its financial partners, with an update expected soon.

The company will provide guidance for FY26 during its FY25 results, alongside updates on its new strategic plan.

This update follows Naked Wines’ previous half-year results, where it reported narrowing losses despite falling sales.

For the 26 weeks to 30 September, the retailer posted a pre-tax loss of £5.6m, an improvement from last year’s £9.7m loss, reflecting continued progress in its turnaround strategy.

Last month, Naked Wines also revealed that its founder Rowan Gormley was stepping down from the business, after the launch of its new strategic plan.

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