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Naked Wines PLC sees increased sales momentum pushing into the autumn season

Naked Wines Plc (LON:WINE) CEO Nick Devlin tells Proactive the group is continuing to see increased sales momentum push into the autumn season.

Analysts are taking note, as the company's stock was upgraded to ‘Buy’ from ‘Hold’ by Peel Hunt as analysts believe sales expectations are likely to be exceeded short term.

The broker said the wine retailer’s US business is thriving after the population noticed wine can be bought online during lockdown, while the UK “continues to excel”. The group is expecting to report half-year results in November.

Quick facts: Naked Wines Plc

Price: 698 GBX

Market: AIM
Market Cap: £510.67 m

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Naked Wines PLC sees acceleration in growth within US market, sales up 75%

Naked Wines PLC (LON:WINE) CEO Nick Devlin tells Proactive the group has seen an acceleration in growth within US market, with sales up around 75%. Devlin says during the pandemic while people continue to stay home and seek out relief, there is increased demand for its products, including a rate...

on 08/27/2020

2 min read