Naked Wines: Christmas boost and Gormley steps down

CEO Rowan Gormley has stepped down at Naked Wines as the online wine subscription service reported Christmas sales in line with expectations.

Naked Wines founder Rowan Gormley

In the 10-weeks to 31 December, underling revenue at Naked Wines rose 11% compared to last year, the company said, with gross marge one percentage point higher due to sales from repeat customers.

New Group chief executive Nick Devlin, who takes over from Gormley from today, said the team had worked hard to deliver a good performance.

“With the important Christmas season behind us, we are now acutely focused on executing our plans and achieving our huge growth potential,” he said.

“Rowan leaves the business in great shape. We have the internal capability, clarity of purpose and financial resources to push ahead with our growth plans and deliver value for customers and shareholders alike.”

The company is also scaling back its investment in new customers for the year, which as published in its interim results, is expected to be at the lower end of the £20-25m range, a measure that will boost the company’s overall profit in this financial year. In November the company reported it was on track in the first half of the financial year, although losses after tax widened to £6.4 million, on the back of investment in new customers.

Former chairman Greg Hodder also formally stepped down from the Board today, having handed the Chairman role to US retail heavyweight John Walden back in August 2019.

Gormley surprised the industry by announcing his departure in November, saying he was “a startup guy” rather than the one to build the online business in the US. In August, it was reported that Gormley had told investors he would list the company on the American stock exchange following the sale of Majestic Wine in August.

Leave your reply

Most Recent Stories

Drink-driving chef says he had to 'sample new wine list'

A chef caught driving home almost four times over the legal alcohol limit claimed he had been asked to “sample” new wines at work.

WLC Eats - St. Barts

Douglas Blyde finds an ecclesiastical setting, skilful wine list and excellent crunchy cod fritters at Restaurant St. Barts.

England in World Cup quarter final could mean £6m boost for pubs

England is through to the quarter final of the World Cup after a 3-0 win against Senegal, which could provide a lifeline income boost for pubs as punters head out to watch the game.

Birley Wine Club dinner raises £186,651 for ‘Food from the Heart’

Enticed by the promise of a dinner at Annabel’s Club matched with 100-point wines sourced by The Birley Wine Club, guests raised £186,651 for The Caring Family Foundation’s ‘Food from the Heart’ campaign – an increase of £84,651 compared to last year’s event.

Environmental activists target Salt Bae's London restaurant

The Knightsbridge outpost of Nusret Gökçe, known to the world as 'Salt Bae', was targeted by activists from campaign group Animal Rebellion who called for the restaurant famous for its gold-covered steaks to serve sustainably-sourced ingredients.

Most Recent Stories

Drink-driving chef says he had to 'sample new wine list'

A chef caught driving home almost four times over the legal alcohol limit claimed he had been asked to “sample” new wines at work.

WLC Eats - St. Barts

Douglas Blyde finds an ecclesiastical setting, skilful wine list and excellent crunchy cod fritters at Restaurant St. Barts.

England in World Cup quarter final could mean £6m boost for pubs

England is through to the quarter final of the World Cup after a 3-0 win against Senegal, which could provide a lifeline income boost for pubs as punters head out to watch the game.

Birley Wine Club dinner raises £186,651 for ‘Food from the Heart’

Enticed by the promise of a dinner at Annabel’s Club matched with 100-point wines sourced by The Birley Wine Club, guests raised £186,651 for The Caring Family Foundation’s ‘Food from the Heart’ campaign – an increase of £84,651 compared to last year’s event.

Environmental activists target Salt Bae's London restaurant

The Knightsbridge outpost of Nusret Gökçe, known to the world as 'Salt Bae', was targeted by activists from campaign group Animal Rebellion who called for the restaurant famous for its gold-covered steaks to serve sustainably-sourced ingredients.