US: Scheid Vineyards losses grow in Q1
Scheid Vineyards has seen its net losses worsen in the first quarter of its fiscal year.
The California-based wine firm, which deals primarily with bulk wine sales, said earlier today (17 August) that net losses for the three months to the end of May came in at US$1.6m, up from the $1.3m losses of a year earlier. Sales in the quarter, down to $2.6m from $4.7m, were hit by a halving of bulk wine sales, which plunged to $1.8m from $3.9m.
The company operates wine grape vineyards primarily in Monterey County in California.
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