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Naked Wines shares slump almost 40% to below Covid lows
Highlighting the economic uncertainties ahead, Naked Wines, previously Majestic Wines, has said it's going to be a difficult period ahead. Shares are down almost 40% as those uncertainties offset good news elsewhere.
There was a return to profit which was driven by repeat business.
That repeat business uses a unique business model of early engagement of consumers to pay for wine before it’s bottled and in return buyers received produce at discounted prices.
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