NSLC reviews leap in hashish and alcohol gross sales in third quarter

NSLC reports jump in cannabis and alcohol sales in 3rd quarter

The Nova Scotia Liquor Corp. (NSLC) is reporting a rise in gross sales of hashish and alcoholic drinks in its third quarter.

NSLC‘s quarterly monetary outcomes present a 14.three per cent enhance in earnings to $74.9 million for the interval of Sept. 28 to Dec. 27, 2020, in contrast with $65.5 million in the identical interval in 2019.

There was an 11.7 per cent enhance in beverage alcohol gross sales, rising to $187.eight million.

The company says COVID-19 restrictions for bars, pubs and eating places have led to clients shopping for extra liquor from shops.

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Gross sales to personal wine and specialty shops in addition to to company shops had been up by round 29 per cent. However gross sales to bars and eating places had been down in contrast with the 2019 interval, “particularly within the Halifax space because of COVID-19 restrictions.”

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Hashish has seen “very sturdy progress” within the third quarter, with gross sales growing by 27.5 per cent.

NSLC says opening six new hashish shops has resulted in a 23 per cent lower within the common worth per gram, now $7.58.

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“This progress in hashish gross sales signifies we’re making progress in fulfilling our mandate to affect the illicit market with a protected, safe provide of hashish,” stated NSLC CEO Greg Hughes, within the launch.

Within the third quarter, common basket quantities for each alcohol and hashish elevated as effectively, at $39.57 and $41.48, respectively.

Whole gross sales within the third quarter this fiscal yr amounted to simply below $210 million, in contrast with $185.5 million within the prior fiscal yr’s third quarter.

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NSLC has seen important progress in gross sales of Nova Scotian merchandise at its shops. Prepared-to-drink Nova Scotian merchandise noticed a 74.2 per cent enhance in gross sales to $6.2 million.

Nova Scotia spirit gross sales grew by 32.three per cent in contrast with the third quarter within the 2019-20 fiscal yr. Native wine gross sales elevated by 22.7 per cent and craft beer gross sales elevated by 20.eight per cent.

Nova Scotian hashish accounts for 20.1 per cent of all hashish gross sales at NSLC places. Total within the third quarter, native hashish noticed a rise of 31.5 per cent in gross sales to $4.5 million.

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“Gross sales continued to mirror modifications in clients’ buying patterns because of the pandemic,” NSLC stated within the Tuesday launch.

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Final yr, NSLC stated the novel coronavirus offered it with an “unprecedented” first quarter of the 2020-21 fiscal yr. Gross sales elevated by 5.three per cent to $184.2 million between April 1 and June 28, 2020.

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