More drinks: NSLC sales up 6.3 percent

The Nova Scotia Liquor Corporation (NSLC) released its second quarter financial results today, Oct. 27, for June 29 to Sept. 27.

It was a very strong quarter with a 6.3 per cent increase in sales to $216.6 million with $194.5 million in beverage alcohol sales and $22.1 million in cannabis sales. This growth was driven by customers purchasing more from NSLC stores given the pandemic restrictions in place at bars, pubs and restaurants.

This continued change in purchasing patterns was reflected by a 10.9 per cent decline in the number of transactions and 21.8 per cent increase in the average dollar value of each transaction as customers purchased larger package sizes in order to make fewer trips to NSLC stores.

Growth in the sale of Nova Scotia ready-to-drink products, primarily vodka coolers and new sweet coolers, continued to lead the growth of local product categories with sales increasing by 58 per cent to $9.6 million. Nova Scotia craft beer sales grew by 2.2 per cent to $6.3 million while Nova Scotia spirit sales grew by 4.8 per cent to $2.7 million compared to the same quarter for the previous fiscal year. Nova Scotia wine sales declined by 4.5 per cent to $3.7 million and Nova Scotia cannabis sales increased by 16.6 per cent to $4.2 million, accounting for 18.9 per cent of all cannabis sales this quarter.

There was a 5.4 per cent increase in earnings this quarter to $77.8 million compared to the same period in the previous fiscal year.

Source: Release

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