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Vintage Wine Estates stock plummets toward record low after surprise loss, downbeat outlook

Vintage Wine Estates stock plummets toward record low after surprise loss, downbeat outlook

Shares of Vintage Wine Estates Inc. plummeted 40.1% in afternoon trading Wednesday toward a record low, after the winery, with brands including Layer Cake, Clos Pegase and Bar Dog, reported a surprise fiscal fourth-quarter loss and provided a downbeat full-year revenue outlook. The company reported late Tuesday a net loss for the quarter to June 30 that widened to $14.7 million, or 24 cents a share, from $6.1 million, or 18 cents a share, in the year-ago period, as the number of shares outstandi