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Vintage Wine Estates, Inc. - $VWE STOCK NEWS

Welcome to our dedicated page for Vintage Wine Estates news (Ticker: $VWE), a resource for investors and traders seeking the latest updates and insights on Vintage Wine Estates stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Vintage Wine Estates's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary
Seth Kaufman has joined Vintage Wine Estates, Inc. as President and CEO. He brings extensive leadership experience from large consumer-oriented brand enterprises. Vintage Wine Estates is one of the fastest-growing wine producers in the U.S. with a leading direct-to-customer platform.
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Vintage Wine Estates reports fiscal 2023 revenue of $283 million and 30.1% gross margin
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Vintage Wine Estates amends credit agreement to support Five-Point Plan
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Vintage Wine Estates to release Q4 and FY2023 results
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Vintage Wine Estates, Inc. will restate its previously issued financial statements for the first, second, and third quarters of fiscal 2023 due to a reassessment of technical accounting matters. The restatements will delay the filing of the fiscal 2023 10-K and the finalizing of amendments to the credit agreement. The company expects to file amended 10-Qs and fiscal 2023 10-K as soon as practical. The revenue expectations for fiscal 2023 have been revised from $290 million to approximately $280 million with a gross margin of approximately 30%. Seth Kaufman will join the company as President and CEO on October 30, 2023.
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Vintage Wine Estates appoints Seth Kaufman as President and CEO
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management
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Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) provided an update on its fiscal 2023 results and fiscal 2024 expectations, including a preliminary unaudited revenue of $290 million and a 700 basis point gross margin expansion in fiscal 2024. The company's Five-Point Plan aims to drive improvements through margin expansion, cost reduction, cash management, asset monetization, and revenue growth. Organizational restructuring and cost savings are expected to result in a $20 million reduction in SG&A expenses for fiscal 2024.
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Vintage Wine Estates, Inc.

Nasdaq:VWE

VWE Rankings

VWE Stock Data

21.56M
38.57M
46.5%
20.52%
0.43%
Wineries
Manufacturing
Link
United States of America
SANTA ROSA

About VWE

vintage wine estates is a privately held collection of vintner family-owned winery estates and brands based in santa rosa, california. we are an industry leader across all sales channels and dedicated to providing wine consumers with a range of wine selections from $10 to $150 dollars. customer service is central in our culture, with focus on both our external and our internal customers. vintage wine estates is a dynamic, growing organization. we value individuals with an entrepreneurial spirit who enjoy working with a professional, results-driven team in a collaborative environment. careers: http://www.vintagewineestates.com/careers the portfolio includes clos pegase, cosentino winery, girard winery, viansa sonoma, windsor vineyards, b.r. cohn winery, cartlidge & browne, sonoma coast vineyards, ray’s station, swanson winery, cameron hughes wines, middle sister, wine sisterhood, pro-mis-q-ous, monogamy, girl & dragon, purple cowboy and a number of exclusive wine brands.