Naked Wines PLC (AIM:WINE, OTCQX:NWINF), the online wine distributor, is expecting sales in the 2024 financial year to slow as it struggles to battle with reduced levels of new customers.
Sales for the full year are forecast to reach £300mln should the tough trend continue throughout the twelve months, a statement from the group revealed.
Results for the financial year to April 2023 were delayed on Tuesday having been scheduled for release on Thursday 6 July.
Sales are predicted to come in at £350mln while underlying earnings are expected to be between £15mln and £18mln.
The retailer also announced founder Rowan Gormley would be taking over as chairman from David Stead with immediate effect.
Gormley set up Naked Wines in 2008 and built-up revenues of nearly £200mln during his time in charge.
Stead said: “I am pleased to be handing over the chairmanship of Naked to Rowan as the business develops plans to deliver profitable growth over the long term.”
Jack Pailing will also get a seat on the board, albeit as an independent director.