Wine woes | Equity raise | Stonking Small Cap delight
News covered here includes another poor update from a popular online wine retailer. The survival of this business looks increasingly doubtful to us, at least as a listed company. Elsewhere, one of our Stonking Small Caps impressed with its full year results, while a well-supported equity raise lifted the shares of one of our Bonkers Bargain opportunities. Read on here for this and other news.
Naked Wines: it’s not looking good
As we feared, it’s gone from bad to worse for online wine retailer Naked Wines (AIM:WINE).
Trading in the US market is weaker than anticipated with full year guidance reduced again. Expectations are now for a decline in revenues of -12% to -16% and fairy tale adjusted EBIT of £2-6m.
CEO Nick Devlin is also standing down with immediate effect, with the founder, and architect of the…
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