As part of efforts to meaningfully engage with our partners as we work together to serve Ontarians, we’ve created Quarterly Trade Updates that provide key facts and figures about our business, including on corporate performance, category sales and trends, and campaigns.
Fiscal Year 2023-24 is off to a strong start. Critical work is underway on key projects, we continue to respond to trends and customer preferences, and there are shared successes to celebrate. Despite ongoing economic challenges affecting our industry and consumer spending, at $1.58 billion, LCBO sales are trending over last year’s sales with seasonal celebrations, events, and warmer weather playing a part. Customers continue to favour lighter choices, white wines and RTDs. Channel sales continue to normalize to pre-pandemic levels, with a shift of retail consumer sales to wholesale licensee sales.
We also celebrate the wrap up of our annual Pride campaign, Love Pairs with Everything, which raised almost $2 million. I am grateful for the impact we’re able to make, thanks to the support and generosity of our passionate employees, partners, and customers.
As we head further into Q2 and the key summer months, we remain laser-focused on reimagining the customer experience, effective and efficient operations, and planning for upcoming milestones including our annual local campaign in support of Ontario wine, with an emphasis on VQA, United Way fundraising, and Food & Drink’s 30th anniversary celebrations.
Thank you for your partnership,
George Soleas
President & CEO, LCBO
LCBO Quarterly Update Q1 2023
