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.
Vintage Wine Estates, Inc. (VWE) is a Santa Rosa-based collection of family-owned wineries offering premium and accessible wines through diverse sales channels. This news hub provides investors and wine industry stakeholders with timely updates on financial performance, strategic initiatives, and market developments.
Access official press releases, earnings reports, and analysis of operational milestones. Track updates on new wine launches, distribution partnerships, and sustainability initiatives that shape VWE's position in the competitive wine sector. Our curated news selection helps users monitor the company's blend of traditional winemaking heritage with modern business strategies.
Discover updates about VWE's portfolio management, customer service innovations, and leadership in California's wine country. Bookmark this page for streamlined access to essential information supporting informed decisions about this unique wine enterprise.
Vintage Wine Estates has appointed Jessica Kogan as the new Chief Growth & Experience Officer. Kogan, who has been with the company since 2017, will spearhead digital transformation initiatives aimed at enhancing customer engagement and operational efficiencies. Under her leadership as Chief Digital Officer, the company’s direct-to-consumer revenue surged from $30 million to over $90 million. This strategic move is anticipated to bolster VWE's position in the eGrocery market and further its growth in the competitive beverage alcohol sector.
Labaton Sucharow is investigating Vintage Wine Estates (NASDAQ: VWE) for potential violations of federal securities laws. The investigation stems from a September 13, 2022, press release in which Vintage Wine disclosed non-cash inventory adjustments totaling $19.1 million. These adjustments included $12.4 million for physical inventory count corrections, $3.7 million for inventory reserves, and $3.0 million for remediation efforts, contributing to a significant loss in Q4 2022. Following this news, Vintage Wine's stock plummeted over 40% on September 14, 2022.
Labaton Sucharow has launched an investigation into Vintage Wine Estates (NASDAQ: VWE) for possible violations of federal securities laws. The inquiry is prompted by Vintage Wine's admission of $19.1 million in non-cash inventory adjustments, which it claims were part of efforts to enhance inventory management. These adjustments contributed to larger losses reported in the fourth quarter of 2022. Following the announcement, Vintage Wine shares fell over 40% in a single day.
Labaton Sucharow, a prominent shareholder rights firm, is investigating Vintage Wine Estates (NASDAQ: VWE, VWEWW, BSPE) for potential violations of federal securities laws. The focus is on allegations of misleading statements and lack of disclosure by the company. A significant concern arises from a press release dated September 13, 2022, revealing $19.1 million in non-cash inventory adjustments, which contributed to a larger fourth-quarter loss. Following this announcement, Vintage Wine's shares dropped over 40% on September 14, 2022.
Vintage Wine Estates reported strong financial results for fiscal 2022, with revenue rising 33% to $293.8 million, driven by B2B and DTC sales growth. Fourth-quarter net revenue was $75.5 million, a 32% increase, while B2B sales surged 55%. Despite a $14.7 million net loss due to non-cash inventory adjustments, adjusted net income improved to $10.0 million. The company anticipates fiscal 2023 revenue between $300 million and $310 million, with adjusted EBITDA expectations of $55 million to $65 million.
Vintage Wine Estates (Nasdaq: VWE, VWEWW) announced its plans to release the fourth quarter fiscal year 2022 results on September 13, 2022, after market close. The release will be followed by a conference call at 4:45 p.m. ET to discuss financial and operational results, along with corporate strategy and future outlook. Vintage Wine Estates, a leading U.S. wine producer, focuses on the premium wine segment, emphasizing a direct-to-consumer sales strategy.
On August 26, 2022, Kentucky Derby-winning racehorse Rich Strike donned a custom blanket to support the Tough Enough to Wear Pink™ (TETWP) breast cancer awareness campaign during the Traverse Stakes at Saratoga Racecourse. Owner Rick Dawson collaborated with TETWP's Executive Director Lacey Wheatley to promote this noble cause, which has raised over 37 million dollars for breast cancer support since its inception in 2004. TETWP aids families facing breast cancer treatment and recovery, with funds primarily supporting local communities.
Vintage Wine Estates reported a strong performance for Q3 FY2022, achieving net income of $2.8 million or $0.05 per diluted share, with adjusted earnings at $0.08. Revenue surged 68% to $78.9 million, driven by a 205.3% increase in B2B sales, reaching $33.7 million. The company raised its fiscal 2022 revenue guidance to $290-$295 million and adjusted EBITDA expectations to $62-$64 million. Despite facing supply chain and inflation challenges, VWE is optimistic about ongoing growth and acquisitions.
Vintage Wine Estates (Nasdaq: VWE, VWEWW) has launched NexDrinx, a new product line focused on alternative beverages. This initiative aims to diversify its offerings while leveraging synergies with its existing wine business. Led by Tracey Mason, the portfolio includes ACE Cider and the newly acquired Gem + Jane, targeting the growing market of non-alcoholic beverages. The company aims to launch alcohol-removed, hemp-CBD-infused products by late 2022, enhancing its market presence.
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