Naked Wines has narrowed its pre-tax losses for the first half of 2024 as it kicks off the peak trading period in a “solid” position.

For the 26 weeks to 30 September, the wine retailer recorded pre-tax losses of £5.6m, an improvement from a loss of £9.7m in the first half of 2023, while total sales declined 15% to £112.3m.

Adjust EBIT excluding inventory costs for the period stood at £600,000, down 77% year-on-year.

However, Naked Wines said its ‘core’ members remain “highly engaged” as customer NPS increased to 76, up from 73 in the year prior and retention of core customers increased to two percentage points to 79%.

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Naked Wines CEO Rodrigo Maza said: “Naked Wines is in a better position, both financially and strategically. We now have robust financial foundations, and our members remain loyal and engaged.

“Our strategic initiatives centred around customer acquisition and retention are generating learnings, and we are currently experiencing solid trading during the peak season period.”

The online retailer’s full-year performance is expected to be in line with the previous guidance, with sales to be in the range of £240m to £270m and with adjusted EBIT excluding inventory liquidation of £3m to £8m.

Naked Wines appointed ex-Reckitt and Just Eat exec Dominic Neary as its new chief financial officer last month.

Maza added: “I am pleased to welcome Dominic as our new CFO. His experience in digital and international businesses have helped him quickly transition, and I look forward to working with him as we focus the business on cash, profitability and growth.”