Location:Home > HEALTH > Napa’s Crimson Wine Group reports 1Q loss

Napa’s Crimson Wine Group reports 1Q loss

Time:2018-05-16 11:38wine - Red wine life health Click:

nbbj_napa nbbj_wine decline sales net

Napa’s Crimson Wine Group reports 1Q loss

Napa’s Crimson Wine Group reports 1Q loss

(1 of ) Napa-based Crimson Wine Group brands include Seghesio Family Vineyards, Pine Ridge Vineyards, Archery Summit, Double Canyon, Malene, Chamisal Vineyards and Seven Hills. (CRIMSON WINE GROUP)

Napa’s Crimson Wine Group reports 1Q loss

BILL SWINDELL

SANTA ROSA PRESS DEMOCRAT | May 15, 2018, 3:23PM

05/15/2018

A version of this story originally appeared on PressDemocrat.com.

Crimson Wine Group of Napa reported a 11 percent decrease in net sales in the first quarter, compared to the same period in 2017, according to the company’s filing Wednesday with the Securities and Exchange Commission.

Crimson, which owns such local wineries as Seghesio Family Vineyards in Healdsburg and Pine Ridge Vineyards in the Stags Leap region of Napa Valley, recorded $13.2 million in net sales for the quarter compared to $14.8 million for the same period last year.

The company reported a net loss of $845,000, compared with a profit of $749,000 for the first quarter of 2017.

In its filing, Crimson noted that it had “harvested substantially all of their 2017 estate grapes” before the October wildfires and that any losses due to the blazes will be partially offset by its insurance policy.

A version of this story originally appeared on PressDemocrat.com.

winewine

Copyright infringement? Click Here!