Virgin Wines Shares Tumble as Consumer Spending Tightens

The retailer now projects annual revenue of 61 million pounds for the year ending July 3, falling short of the 63.25 million pounds anticipated by analysts. Financial guidance suggests an adjusted EBITDA loss of 200,000 pounds and a pretax loss of 1.5 million pounds, widening the deficit beyond previous market expectations. Shares have now shed 53% of their value since the start of the year.

Chief Executive Jay Wright attributed the slower growth to external market pressures but maintained that the company remains debt-free with a resilient balance sheet. To streamline logistics, the retailer is relocating its operations to a new warehouse in Preston, Lancashire. The company plans to vacate its current Bolton site by February, with management expecting the move to generate economies of scale and structural benefits beginning in fiscal 2028.