Finance - September 29, 2017

PLCB releases numbers for fiscal year 2016-17

In the last year the PLCB has opened up sales of wine and beer into grocery stores across the Commonwealth; allowing for increased customer convenience. And it seems to have helped improve overall sales. The PLCB reported sales of $2.01 billion; that’s up 3.9 percent from last year. While that is a record single year sales number, it is all encompassing of the sales at state stores and bulk sales to bars, restaurants and now grocery stores.  It is difficult to determine how much of an overall impact the sales at grocers had this year because the breakdown of that $2 billion is not yet available. With the introduction of those sales there were concerns about a loss of workforce and sales at state stores. The PLCB has reported that employment is actually up and five new state stores have been opened. The Board has said they do need more time to understand any long-term impacts of liquor reform; the numbers, though, are promising in this first year. While the impacts are positive, the Governor has said he’s not considering any other liquor reforms at this time.