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A salutary note: net cash £3 million - customer deposits £71 million. With such a large discrepancy you will need a drink!
Massive director buys recently considering the circumstances. Very interesting times coming?
I've cashed out of ZOO and switched over to this as I feel a recovery is coming, had followed this since 45p and the recent dip.
I really like the service I get from the company and I love the products.
DYOR etc etc as I'm just a guy who likes wine and is financially irresponsible
GLA
I could see the BoD raise funds to take this private again.
With stock in hand and channels set up the business is fully operational now.
If they do take private with an investment fund then looking at 60+ a share
Now in the territory where the market cap is measurably less than the value that can be garnered by operating it as a run-off - not that I think that is the best option.
Assuming that the new management can put forward a credible strategy, this should start to become appealing to institutional investors looking for a business with scale as a relatively low risk recovery play.
Pinning down the price with small auto sells.
And then make bundle buys.
Someone is accumulating on the backend.
Having been a majestic, naked wine, Angel previously, it comes as no surprise that the strategy for sales is now broken and superseded by all the supermarkets who deliver to door.
Hence the significant sp drop and imho has a lot lower to go to meet market expectations, therefore I will not be investing.
See you all at circa 5p.
Would have been great to have a name mention in there BeardedDragon.
However, the good thing about the article is that its a positive for the sector that Naked operate in.
Seems that we are at a good consolidation level now, and expect alot of averaging will be happening.
That six weeks old article about possible on-line wine growth does not even include Naked Wine amongst the top dozen such companies. Rather a poor show I thought, Horis old chap.
I suspect the new MD Rodrigo Maza coming onboard was a wake up to what divisions were underperforming, and this lead to Delvin having to leave.
As such, I would venture that we are at the bottom, considering the global Online Wine Sales Market is poised for growth:
https://www.openpr.com/news/3218497/online-wine-sales-market-in-depth-analysis-by-trends-overview
Looks like it has not. Grabbed some at 27.26 but who knows where this bottoms out. They're going to need a strong Xmas run that's for sure!
Panic selling seems to have finished.
Would expect some large buys now to average down, and the BoD buying up to consolidate their position if they decide to sell the company to maximise their profit.
Good news for Naked Wines current holding:
"Poor weather around the world is likely to cause global wine production to drop to a six-decade low this year."
https://www.bbc.co.uk/news/world-europe-67343009
07-Nov-23 13:50:59 30.00 500,000 Buy* 28.95 29.55 150.00k O
"Hard for management to go wrong from here you would think unless they keep flogging the same old horse." Quite.
I can understand buying mail order from a specialist who supplies the types of wines you won't find in a supermarket but what differentiates WINE from a supermarket? Only this morning I shopped at Sainsbury's who had 25% off 3 Bottles of Taste The Difference wines. I bought a Trentino Chardonnay, a Portuguese Alvarinho and an Alsatian Gewurztraminer.
The latter was £10.50 less 25% = £7.88 which was an absolute bargain - a price from 10 years ago!
"How much for all the wine, the client list, and the set up "Angel" Channel = £80m?" No chance - better to wait for them to go bust and buy it for peanuts. Maybe VINO would be interested? And bear in mind that the wines are not the sort that increase in value - they are very perishable!
How much for all the wine, the client list, and the set up "Angel" Channel
=£80m?
Hmmm, if they look to sell, they are going to be getting peanuts IMHO, as that signals despair.
That would have definitely been a wiser decision 2 years ago.
I know the wine category well, and unfortunately the cost inflation coupled with lower consumer demand signals a lose lose situation. They could go after their overheads (which they really will need to do) and you may have a more profitable, albeit smaller business model, but it won't happen overnight.
Its basically trading at 75% discount to net asset value now - with the net assets essentially being their wine inventories.
Time to be bold with their future plans, look at what their major operational and intangible assets are and pivot. Don't think sale of US business is an option - it doesn't seem to be an easy thing to carve off without also splitting off a chunk of wine makers which would limit what you could offer to UK or Aussie customers, plus US is too good a market to ignore when you've already set up infrastructure over there. Could there also be Naked Beers and Naked Spirits? New UK boss should be able to inject some new brave thinking to the mix.
Hard for management to go wrong from here you would think unless they keep flogging the same old horse.
Will they look to sell the business now? Would seem like a good time to sell the business to an investment firm with a 10 year glide.
Was not expecting great news but that was surprisingly poor. Sold at the start of the day and bought back in at 30. It's still nigh on £300m annual sales in a business where the actual product margins are relatively stable. It's not for the faint hearted for sure but I thought the fact they remained in positive EBIT territory after such an horrific drop was one small plus!
Maybe they could split out and sell the US business?
I can't see losses being huge this or next year unless they are still committed to buying up wine production - but even this seems unlikely as they have been reducing their buying commitments for months now. In their favour, they do have strong purchasing power, so excess stocks should be sellable even if at a lower margin.
The loss this and next year will be huge. I doubt they will make it that long as the U.K. and USA plunge into a recession.
"worthless"
you for real!
Almost worthless. Just the type of product people are cutting down on. Good company with decent product. Just the wrong time. Money is going on mortgages, higher taxation, interest and debt. Not much left to buy much else.
Just bought some...
Should finish above 35p.