The LCBO has recorded its most successful year in its history, according to a provincial news release.
Overall, LCBO sales increased last year by 4.9 per cent, totalling $4.71 billion. Net income for the government rose $98 million to $1.658 billion, up 6.3 per cent.
In 2011-12, the LCBO opened 13 new stores, and carried out two major store upgrades, resulting in $14.5 million in additional sales. Furthermore, through campaigns such as I Love Canada and goLOCAL, sales of local beer and wine are increasing and customers are engaged by taking pride in supporting local producers.
In 2011-12, sales from Ontario Craft Brewers led all product segments with almost 45 per cent growth as more consumers chose to "go local" with Ontario craft beers because of their premium quality and distinctive styles, according to provincial statistics.
Sales of Vintners Quality Alliance table wines increased by nine per cent, reaching almost $106 million. Since 2006-07, sales of Ontario VQA wines have more than doubled, thanks to the craftsmanship of Ontario winemakers who produce high-quality, award-winning products.
Interest in premium wine and spirits continues to grow as VINTAGES releases some 6,000 products a year (120 to 150 new products are released every two weeks).
In order to offer a better shopping experience, increase product selection and enhance service, the LCBO will embark upon its largest store expansion in history, opening approximately 70 new stores over the next two years. This will add almost 20,000 linear feet of Ontario wine shelf space in its stores.
“The LCBO's store expansion will generate a positive financial return for our province, while expanding jobs at craft breweries and wineries and improving service for Ontario consumers,” Dwight Duncan. Minister of Finance, said.
The LCBO currently operates more than 620 retail stores across Ontario and it offers more than 21,000 products from 84 countries to consumers throughout the year.
Over the past 10 years, the LCBO has transferred almost $13 billion in dividends to the provincial government.
- Posted by Jenny Jelen