Willamette Valley Loss Narrows in Year
Willamette Valley Vineyards Inc. reports net sales revenues of $33.9 million for all of 2022, up 6.8% from $31.8 million a year earlier. Net loss was $646,492, substantially less than the $2,445,463, for 2021. Jim Bernau, Founder and CEO, said, "In 2022, we
Willamette Valley Vineyards Inc. reports net sales revenues of $33.9 million for all of 2022, up 6.8% from $31.8 million a year earlier.
Net loss was $646,492, substantially less than the $2,445,463, for 2021.
Jim Bernau, Founder and CEO, said, "In 2022, we incurred additional product costs and inventory delays at the start of the year that negatively impacted our sales through distributors in the year. We have also incurred additional expenses in the year in connection with the opening of four new tasting room and restaurant locations in 2022 as we significantly grew our footprint in the direct to consumer segment. We expect higher costs and reduced margins and earnings in the near term as we bring these new locations fully online in 2023."
