Key takeaways:
- Regional Crown corporation’s sales up 4.5% during foremost 3 quarters of the fiscal year.
- The Newfoundland and Labrador Liquor Corporation’s sales are up too so far this year.
Beer sales increase in Nfld and Labrador:
Caused by beer and ready-to-drink alcoholic beverages, the Newfoundland and Labrador Liquor Corporation has registered a 4.5 per cent boost in sales for the first nine months of its fiscal year.
From April to December, the Crown corporation notched almost $235.7 million in sales, up almost $10.5 million over the exact period in the prior year.
Bruce Keating, president and CEO of the Crown corporation, informed CBC News states the sales boost reflects trends noticed in other regions.
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“It’s been hard to anticipate and forecast what would happen during the pandemic, just because it’s such uncertain times,” Keating stated. “But I guess what we’re seeing is similar to what other jurisdictions are seeing across the country as well. It seems to be a common experience that we’re having in all regions.” Source – cbc.ca
Sales in most types of drinks went up: beer by 11.3 per cent ($26.7 million to $29.7 million); ready-to-drink beverages (such as vodka coolers) by 10.7 per cent ($26.9 million to $29.8 million); and wine by 6.1 per cent, ($61.5 million to $65.3 million). Sales of spirits were comparatively dull, selling $110.4 million in the foremost three quarters the previous year and $110.9 million this year, an addition of just 0.5 per cent.
However, licensed establishments such as bars and restaurants are stumbling through the ups and downs of the COVID-19 pandemic. Numerous shut when the region moved back to Alert Level 4 in early January — tensing public health regulations to tie down on the spread of the Omicron variant — while others face challenges over decreased capacity.
