N.B. Liquor Store (staff photo)
NB Liquor and Cannabis NB both did a booming business over the summer months.
According to numbers released by the Crown corporation, president Patrick Parent says ANBL continues to deliver an impactful financial return to the people of New Brunswick.
Key product sales trends for the second quarter (June 29 – September 27) compared to the second quarter last year (July 1, 2019 – September 29, 2019) were:
- wine sales increased 0.8 per cent, up $0.20 million;
- spirit sales increased 12.4 per cent, up $3.27 million;
- beer sales increased 10.6 per cent, up $6.29 million; and
- sales of coolers and cider increased 53.1 per cent, up $7.16 million.
Total sales were $142.9 million – which was 13.4 percent higher than the same period last year.
Cannabis NB reported a profit of $3.3 million dollars in the second quarter with sales up by 87.1 percent year-over-year.
“We promised we would fix our business and we have,” said Parent.
Most sales – about 99 percent – were made in-store while online sales only amounted to about one percent.
Key trends for the second quarter (June 29 – September 27) compared to the second quarter of last year (July 1, 2019 to September 29, 2019) were:
- Dried flower sales increased 53.4 per cent, up by $4.8 million
- Accessories sales increased 71.0 per cent, up by $0.3 million.
- Extracts sales decreased 6.3 per cent, down by $0.08 million.
- Concentrates represented 16.1 per cent of sales for the quarter at $3.2 million.
- Edibles represented 4.9 per cent of sales for the quarter at $1.0 million.
- Topicals represented 0.3 per cent of sales for the quarter at $0.06 million
“Our year to date results are showing that we now have a very profitable and sustainable business. I believe Cannabis NB will only continue to grow, remain profitable and offer New Brunswickers the best return on their investment in us,” added Parent.
