Duckhorn’s Sales Climb 18% In Second QuarterMarch 11, 2022
The Duckhorn Portfolio posted net sales up 18% to $99 million for its fiscal second quarter ended in January, with comparable adjusted EBITDA rising 12% to $34 million. “Leading the growth for the quarter were our flagship winery brands, Duckhorn Vineyards and Decoy, as they appeal to a broad group of consumers,” said president and CEO Alex Ryan. According to Impact Databank, the Duckhorn Vineyards brand jumped 28% to 275,000 cases in the U.S. last year, while Decoy rose 19% to just under 1.3 million cases.
Ryan added that the company is raising its fiscal year guidance based on the solid showing to date. Duckhorn now expects sales of $364 million to $369 million and adjusted EBITDA of $121 million to $125 million for the year ending in July.
In addition to announcing its results, Duckhorn has appointed Gayle Bartscherer as executive vice president, chief marketing and DTC officer. Bartscherer joins Duckhorn from Jackson Family Wines, where she spent 14 years and was most recently SVP, international sales, marketing, and business development. She replaces Carol Reber, who Ryan cited as “instrumental” to Duckhorn’s growth over the past 12 years.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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