Brief: Vintage Wine Estates Inc Executed Actions To Realize About $10 Million Of Annualized Profit Improvement
05/04/2023 22:59
April 5 (Reuters) - Vintage Wine Estates Inc VWE.O :
* VINTAGE WINE ESTATES INC- TO DATE, EXECUTED ACTIONS TO
REALIZE
ABOUT $10 MILLION OF ANNUALIZED PROFIT IMPROVEMENT
* VINTAGE WINE ESTATES INC- REDUCED FULL-TIME HEADCOUNT BY
APPROXIMATELY 4%, STRATEGICALLY RAISED PRICES ACROSS DIRECT TO
CONSUMER SEGMENT
* VINTAGE WINE ESTATES INC- IN PROCESS OF DEVELOPING A
COMPREHENSIVE BUSINESS DEVELOPMENT AND RESTRUCTURING PLAN
* VINTAGE WINE ESTATES- EVALUATING OPTIONS INCLUDING
CUSTOMER
CONTRACT RENEGOTIATIONS, SIMPLIFICATION OF BUSINESS, FOCUS ON
KEY BRANDS, SKU REDUCTION
* VINTAGE WINE ESTATES INC- IS ALSO EVALUATING FURTHER ASSET
MONETIZATION OPPORTUNITIES
* VINTAGE WINE ESTATES- TOTAL NON-CASH IMPAIRMENT CHARGES
FOR Q2
FISCAL 2023 THAT ENDED DEC 31, 2022 EXPECTED TO BE IN RANGE OF
$130 MILLION TO $145 MILLION
Source text for Eikon: ID:nGNX5Xx5d8
Further company coverage: VWE.O
((Reuters.Briefs@thomsonreuters.com;))
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