Files from NSLC release:
The Nova Scotia Liquor Corporation (NSLC) saw a modest rise in sales and earnings for the second quarter of the 2024 fiscal year, covering July to September. Total sales increased by 1.5% to $245.8 million, while profits edged up 0.5% to $83.8 million. Gains in cannabis and ready-to-drink beverages helped offset slower sales in some areas, like bars and restaurants.
The numbers show changing consumer trends, with local products continuing to hold a strong presence despite mixed results. While customer transactions for alcohol dropped, the average spending per visit increased, suggesting a shift toward higher-value purchases. Cannabis, meanwhile, showed steady growth in both sales volume and transaction frequency.
Key Financial Highlights
• Profits for the quarter reached $83.8 million, up 0.5% from last year.
• Total sales grew 1.5% to $245.8 million.
• Alcohol sales rose 1.2% to $213.2 million.
• Cannabis sales climbed 3.9% to $32.6 million.
Local Product Performance
Local products showed varying results:
• Ready-to-drink beverages led the growth, increasing 6.6% to $11.9 million.
• Craft beer sales rose 4.1% to $9.5 million.
• Local cannabis sales dropped 10.1%, but still made up 28.3% of total cannabis sales.
Sales by Channel
Performance across retail channels was mixed:
• NSLC stores brought in $204 million, up 0.9%.
• Sales to private wine and specialty stores jumped 23.9% to $5.6 million.
• Agency store sales grew 4.9% to $20.9 million.
• Sales to bars and restaurants fell 0.8%, totaling $14.6 million.
Customer Spending Trends
• Alcohol transactions dropped 3.5%, but average spending per transaction rose 3.8% to $41.54.
• Cannabis transactions increased 3.4%, with average spending per visit rising slightly to $37.22.