LCBO sales up 3.9% to $4.892 billion in 2012-13 fiscal year
Ontario’s LCBO posted net sales of $4.892 billion in their 2012-13 financial results, up 3.9% over the previous year. Net income rose $53 million to $1.711 billion, rising 3.2%.
A dividend of $1.7 billion was transfered to the Ontario government, up $70 million from 2011-12.
“Net sales growth is due in large part to the strategic expansion of our store network, including new stores and renovation of existing stores, as well as solid financial management,” said LCBO President & CEO Bob Peter. “Despite a challenging retail economy, LCBO was able to deliver these results by managing expense, careful product and inventory control and executing store network improvements.”
Sales of beer rose 3.9%, reaching $923 million. Craft beer led all beer segments with growth of 33%.
28 new LCBO stores were opened including 12 new locations and 16 relocations.
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