Net income for beer consortium falls by half in 2016 over previous
Ontario’s decision to allow grocery stores to sell beer and the growth of craft breweries are two of the main forces driving declining sales at the Beer Store, according to an Ottawa industry expert.
According to its annual report released last week, the Beer Store generated about $7.2 million in net income in 2016 — less than half of the approximately $14.7 million the foreign-owned consortium reported in 2015.
The report also showed sales were down $10.5 million in 2016 to just over $400 million from $411 million in 2015.
Significantly, 2016 also marked the first full year that beer was available for Ontarians to purchase in grocery stores and supermarkets.