Third Quarter Results
The Nova Scotia Liquor Corporation (NSLC) released its third quarter financial results today, Feb. 16, for Sept. 28 to Dec. 27, 2020.
Sales continued to reflect changes in customers’ purchasing patterns due to the pandemic. Overall, there was an 11.7 per cent increase in beverage alcohol sales to $187.8 million and a 19.7 per cent increase in the average basket size compared to the same time last year.
This growth was driven by customers purchasing from private wine and speciality stores, agency stores and NSLC stores due to pandemic restrictions at bars, pubs and restaurants.
There was a 27.5 per cent increase in cannabis sales to $22.2 million with the addition of new stores and a reduction in the average price per gram.
There was growth in the sale of all Nova Scotia product categories with ready to drink products again leading the growth with a 74.2 per cent increase in sales to $6.2 million. Nova Scotia spirit sales grew by 32.3 per cent to $3.8 million compared to the same quarter the previous fiscal year. Nova Scotia wine sales increased by 22.7 per cent to $4.4 million and craft beer sales grew by 20.8 per cent to $6.0 million. Nova Scotia cannabis sales experienced very strong growth of 31.5 per cent to $4.5 million.
There was a 14.3 per cent increase in earnings this quarter to $74.9 million compared to the same period in the previous fiscal year.
A detailed news release can be found on the NSLC website at: https://www.mynslc.com/About-NSLC/Media-Centre/News-Releases/NSLC-releases-third-quarter-financial-performance