First-Quarter Results

The Nova Scotia Liquor Corporation (NSLC) released its first-quarter financial results today, August 24, for April 1 to July 4, 2021.

Total sales for the quarter were up 15.0 per cent with an increase in both beverage alcohol and cannabis. This was driven by extra selling days compared to the same quarter last year, increased store hours due to pandemic restrictions last year, and the addition of new cannabis stores.

There was an 11.9 per cent increase in earnings this fiscal quarter to $71.7 million.

There was a 30.5 per cent increase in the number of store transactions and a 12.8 per cent decrease in the average dollar value of each transaction, indicating a gradual return to pre-pandemic purchasing patterns.

Nova Scotia products experienced growth across all categories with Nova Scotia craft beer sales leading that growth with a 39.1 per cent increase in sales to $6.7 million.

Nova Scotia wine sales grew by 25.9 per cent to $3.3 million compared to the previous fiscal quarter. Nova Scotia ready-to-drink sales increased by 20.9 per cent to $8.7 million and local spirits sales grew by 19.2 per cent to $2.7 million. Nova Scotia cannabis sales again experienced very strong growth with an 85.2 per cent increase in sales to $4.9 million.

Additional Resources:

A detailed news release can be found on the NSLC website at: https://www.mynslc.com/About-NSLC/Media-Centre/News-Releases/NSLC-Releases-First-Quarter-Financial-Performance