Truett-Hurst Inc. on Monday reported sales rose 20 percent in the first quarter, the result of strong sales to online shoppers, tasting room visitors and members of its wine club.
The Healdsburg winery reported a net loss of $100,000 for the three-month period ending Sept. 30, or 3 cents per share, compared to a $33,000 loss from the same period in 2013.
The company, which had its initial public offering in June 2013, reported sales grew to $6.5 million in the quarter, up from $5.4 million from the same period last year. On Monday, it announced Target Corp. has selected at least eight of the winery’s products to carry in 1,300 locations.
“We’re off to a good start to our new fiscal year. Our increased sales and gross margins reflect our efforts to focus on profitable growth and increase average selling prices. We continue to execute on our goals of new customer acquisition and new product developments,” Phillip L. Hurst, the company’s president and CEO, said in a statement.