(Bloomberg) — Locked down shoppers have taken less than a week to snap up all Naked Wines Plc’s U.K. Christmas offers, crashing the retailer’s website in the process.
Promotional packs containing items such as bottles of wine and olive oil sold out in about three to four days, according to Chief Financial Officer and U.K. Managing Director James Crawford. In a normal year, this would have taken two or three weeks, he said. Such was the demand, the Naked Wines website went down for about 40 minutes on Nov. 12.
“People are expecting to be buying online,” Crawford said in an interview after Naked Wines reported first-half results and increased its forecast of full-year sales growth. “They know that it’s going to be challenging because of courier and warehouse capacity and all of that stuff. And actually they’re making sure that they get their order in early.”
Shares of Naked Wines, which also does business in the U.S. and Australia, rose 0.2% to 500 pence at 12:12 p.m. in London. The stock has more than doubled this year, benefiting from higher online spending during lockdown.
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