Nova Scotia Liquor cites rain as one factor for sales dip this year
Published Wednesday, September 4, 2013 11:24AM EDT
HALIFAX -- Nova Scotia Liquor is reporting a drop in sales and profits for the first quarter of this fiscal year, a decline it attributes in part to an increase in precipitation.
The Crown corporation says it earned $57.1 million in profits during the first three months of fiscal 2013-14, about $1.4 million less than the same period last year.
It is also reporting sales of $147 million, down $2 million from last year's first quarter.
Nova Scotia Liquor says a 30 per cent increase in precipitation played a role in lower sales.
CEO Bret Mitchell says this year's results were also due in part to the timing of Easter sales, which were accounted for in the previous fiscal year.
Retail sales were $120.1 million, a 1.6 per cent decrease from the $122.1 million recorded last year.
But sales to restaurants, bars and specialty and agency stores were on par with last year's $27 million.