MONTREAL, Aug. 30, 2021 /CNW Telbec/ - For the first quarter of its 2021-2022 fiscal year, which ended on June 19, 2021, the SAQ reported net income of $284 million, up $40.5 million or 16.6% from the first quarter of the company's preceding fiscal year. Dollar sales rose 8.3% to $832.2 million, while litre sales reached 52.2 million litres, a 3.6% increase. During the first quarter of fiscal 2020-2021, the introduction of various public health measures had an adverse impact on sales, partly explaining the increase in the quarter just ended.
Net income
$284 million +16.6%
| Sales
$832.2 million +8.3% |
Gross margin
$412.5 million +8.1%
| Ratio of net expenses to sales
15.4% |
Store and specialized centre (permit holders, agencies and other customers) network
- Dollar sales in this network totalled $749.9 million, a $71.6 million or 10.6% increase.
- Volume sales rose 3.1 million litres or 7.9% to 42.4 million litres.
- Cooler sales reached $38.9 million, a $13.1 million or 50.8% increase. Volume sales were up 2.3 million litres or 50% to 6.9 million. This performance is attributable to customers' unflagging enthusiasm for these products, especially ones from Quebec.
- Public health measures and the closing of restaurants and bars affected this network's sales in the first quarter of fiscal 2020-2021. The gradual re-opening of the hospitality industry was a contributing factor to the $27.2 million increase in sales to this customer segment.
- The average sales price per litre was $19.77 versus $19.32 in fiscal 2020-2021. The value of consumers' average shopping cart dropped from $85.82 to $69.71. These results point to a gradual return to conventional shopping behaviour, with customers visiting stores more often but spending less each visit.
- Online dollar sales rose 7.9% to $26 million and now account for 3.8% of consumer sales.
Wholesale grocer network
- Dollar sales in this network fell $8 million or 8.9% to $82.3 million.
- Volume sales experienced a 1.3 million litre or 11.7% decrease to end the quarter at 9.8 million litres.
- The public health measures and the closing of the restaurant industry had boosted sales in this network in the first quarter of fiscal 2020-2021.
Net expenses
- Net expenses totalled $128.5 million, compared with $138.1 million for the first quarter of last year, a decrease of $9.6 million or 7%.
- Compared with the corresponding quarter of fiscal 2020-2021, the company lowered its expenses even as it continued following the public health guidelines implemented to protect customers' health and safety.
- Expressed as a percentage of sales, net expenses were 15.4% as opposed to 18% in fiscal 2020-2021.
The SAQ's detailed results, including sales and expense data for the last five years, are accessible to all Quebecers in its Quarterly Report Q1 2021-2022, now available (in French only) on SAQ.COM.
About the Société des alcools du Québec (SAQ)
Created in 1921, the SAQ imports, distributes and sells a broad range of wines, beers and spirits. Its sales network comprises 409 stores and 429 agency stores located throughout Quebec as well as a transactional website, SAQ.com. Driven by the passion and know-how of its 7,000 employees, the SAQ offers Quebecers a world of discovery, with nearly 44,000 products from 3,700 suppliers in 82 countries. In fiscal 2020-2021, the SAQ supported some 300 organizations and events and paid a dividend of $1.219 billion to the Quebec government, while also ensuring its business activities respected local communities and the environment.
For more information, visit the SAQ.COM website, follow us on Twitter (@LaSAQ_officiel) or view our Facebook and LinkedIn pages.
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