Naked Wines Share Discussion Threads

[goliard] 07/11/2023 08:26

Whilst it is not nice to watch a company failing there is something satisfying about watching reality replace hype as it always had to at some point.

[bigbigdave] 22/9/2023 06:41

Can't see any reason to use anyone other than the wine society

[creditcrunchies] 21/9/2023 19:23

I've been a nw customer for about 6 years I kind of know the growers and grape styles I like they've always been better than what you get at supermarkets. The problem with UK supermarkets is they have a small selection of different wines of each region in the world taking up several aisles. Always hit and miss. NW do have a problem they have got a massive inventory of wine from growers that aren't so popular. That is the problem they've got how do you value hard to sell wine without dumping below cost? All of the wines I choose are the fine wines that have drink before dates 10 to 15 years from now that age really well racked. Trouble is cheaper wine has a shelf life of only 3 years. Look at what's on offer at supermarkets cheaper wines with 3 yr shelf life. I'd be cautious as an investor for that reason

[thebutler] 21/9/2023 11:07

Maybe so, ACT, and yes their stories behind the wines did create some kind of attachment.

They still send me the odd email to try and entice me back, the latest saying they had a stonking great deal cos they needed to free up some warehouse space for their xmas stock. It's stuff like this which makes you think they're taking customers for fools.

[arlington chetwynd talbott] 21/9/2023 10:44

Our experience has been that NW is a cut above the supermarkets and other wine clubs, but I guess it is all subjective when it comes right down to it. We've certainly enjoyed the way that NW present and engage you with the story behind the bottle you are drinking. Perhaps that has made the wine taste better than it actually is!

[thebutler] 21/9/2023 09:47

I did get some very disappointing overpriced wine at Naked. It didn't take long for me to realise that all those "brilliant deals" offered at huge discounts were simply discounting vastly overpriced wines in the first place.

OK, the supermarkets will try the same stunt, but not as bad as these "wine clubs".

[bookbroker] 21/9/2023 09:41

Depends which supermarket you use, Sainsbury’s always has great selection of good quality everyday wine at good prices. Majestic is an absolute racquet, the beer is also overpriced for the same product. They may have obscure vineyards on their books, but the terroir is likewise.

[arlington chetwynd talbott] 21/9/2023 07:57

If it was a choice between an £8.99 NW bottle and a £11.99 supermarket bottle reduced to £8.99, I would bet on the NW wine every time.And do NW customers really build up significant deposits over time? The figure may be significant in aggregate but individually? We never let much of a balance build up. Who does? Is there much of a panic risk if there are comparatively few people with really significant balances?

[thebutler] 19/9/2023 11:14

Yes, if there is a run by the customers to retrieve their deposits, it appears there isn't enough cash to cover such a run.

Used to be a Naked Wine customer but got fed up of hanging around waiting for delivery, and the supermarkets also gave generous 25% discounts for decent wine.

[columbarius] 19/9/2023 11:04

Good point Agnes. The business model relies on payment up front. In future, customers may be more reluctant to give cash in the expectation of receiving future goods when there is an auditor's going concern qualification in the accounts. The question is, what percentage of customers will be aware of that?

[bigbigdave] 19/9/2023 07:33

WINE finding it tough going

[agnes] 24/8/2023 12:37

I think it is legal as it's within the Terms and Conditions of Angels. A parent company guarantee is stated as well but that is only as good as Naked Wines. However, other than wine stock, the biggest asset is the cash that belongs to customers. If this were to end badly, consumers would be struggling to get their money back.

[callumross] 24/8/2023 11:15

Would that be legal Agnes? I know Virgin Wines (VINO) ring fences its wine club members money from their other £6m cash. VINO been recovering strongly in recent weeks which shows the value of balance sheet strength with no debt and lots of net cash.

[agnes] 23/8/2023 15:29

The company is using over £80 million of non-segregated customer deposits as working capital. Will interesting to see how this plays out

[terminator101] 23/8/2023 12:53

Those results are going to show a loss imo. And this will tank. Was a lockdown darling and now just another struggling retailer.

[waldron] 09/8/2023 08:13

can it bounce off support or will it fall thru




I see results pencilled in for late November

[iandippie] 08/8/2023 09:46

How long can they delay results?

[creditcrunchies] 17/7/2023 12:14

They issued a huge price to members aka Angels said it was extra taxation. I think they'll be struggling on revenue as they're totally reliant on repeat order customers

[castleford tiger] 04/7/2023 12:58

20% duty rise on the 1st of August might cause more panic.

[tr200g] 04/7/2023 11:04

interesting times

[bigbigdave] 04/7/2023 10:43

Not so clever then, no position.

[sbb1x] 03/7/2023 11:13

Not invested, but Reckon it will rise

[sbb1x] 03/7/2023 11:08

Red or black gamble this week on update

[drcheinstein] 01/5/2023 08:45

Latest statements seem to paint the picture there’s no exposure to any svb downside and it’s business as usual in that regard.

[creditcrunchies] 20/3/2023 09:31

Yes they are exposed by it. There was an RNS that stated: The online wine retailer says its contractual assessment to date shows it having 0.6 million pounds of cash to be at risk. Company adds that 14 million pounds of cash is held in an SVB account who acts as a custodian for third party money funds.