NB Liquor reports Drop In Sales, Profits
Profits at NB Liquor fell by $1.1 million during the first quarter of this fiscal year, as compared to the same period last year. The Crown corporation reports that total sales were $99.2 million _ a drop of $4.7 million. Despite the drop, president Daniel Allain says the numbers are in line with expectations. He says beer sales and store visits were expected to drop because of a deep discount on beer last year that accounted for $4.5 million in sales in 2011. Allain says a reduction of $200,000 in operating expenses this year has helped offset the revenue shortfall. The report says that wine sales grew, while spirits, beer and other beverages declined.