The Nova Scotia Liquor Corporation (NSLC) released its first-quarter financial results Tuesday. The total sales reported from April 1 to June 29 were $218.8 million, a 1.7 per cent decrease from the previous year. Alcohol sales were down 2.9 per cent at $185.7 million, while cannabis sales saw an increase of 5.9 per cent to $33.1 million. Overall, the total earnings for the quarter decreased 5.4 per cent to $66.6 million. “The removal of U.S. products, combined with the continuing trend of declining beverage alcohol sales volume, definitely had an impact on our first quarter financial results,” says Greg Hughes, president and CEO of NSLC. “Despite these challenges, our team continues to adapt and share their expertise with our shoppers, especially with those looking for alternative products that are made closer to home.” The removal of U.S. products spurred an increase in the sale of local products, with overall local beverage sales up 10.6 per cent to $27.5 million compared to the same time last year. The report also attributed the lower sales to “wet weather” throughout the spring. As well as the Federal Tax Break over last year’s holiday season, which ended in mid-February. The NSLC says this prompted shoppers to buy in bulk in the fourth quarter of last year. Sales to bars, pubs and restaurants saw a decline of 1.9 per cent to $13.3 million, while sales to private wine and specialty stores declined 13.3 per cent to $5.1 million. NSLC agency stores saw a slight increase by 1 per cent to $18 million. Nova Scotia cannabis products account for 28 per cent of all cannabis sales, despite a 1 per cent decline in local cannabis sales to $9.3 million. For more Nova Scotia news, visit our dedicated provincial page
