Retailer’s long-term future in question, experts say.
www.thestar.com
This is in contrast to the LCBO, which has seen sales rise during COVID, despite an increase in supermarkets selling booze.
Consumer sales at The Beer Store have not plummeted. Though they are down a bit.
There was no expansion of grocery store sales in the last 12 months.
The real culprit here is the fall-off in restaurant sales.
Keg sales are in the toilet.
There is no 'wholesale' beer market in Ontario.
The Beer Store sells retail to restaurants, with stores acting as warehouses for that purpose.
So the stores are essentially the wholesale distribution arm of the brewers in Ontario; in addition to being retail stores.
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I fully expect 'The Beer Store' to contract, and points of sale to widen further; irrespective of the current government.
But that's more a long term secular trend, particularly in Toronto, where the real estate holdings of TBS have simply been deemed too valuable for their current use.
The keg sales will return when restos/bars fully re-open, presumably later this year.
But TBS will continue selling off its store network.........
Which, will, of course, also depress the sales figure.