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Over the last three quarters: Sales remain low at SAQ

Over the last three quarters: Sales remain low at SAQ

Quebecers purchased less from the Société Alcoholique de Quebec (SAQ) during the third quarter of fiscal year 2023-2024, which contributed, among other things, to a decline in the organization's net income.

The average basket of purchases made by consumers increased from $68.95 to $67.65, representing a 1.9% decrease for the quarter ending December 30, 2023 compared to the previous quarter.

While sales in branches and specialized centers remained stable at $1.290 billion.

Significantly, SAQ was able to benefit from a 30% increase in online sales compared to the second quarter, reaching $44.6 million, or 4.1% of sales made to consumers in Quebec.

Fall for three quarters

The company achieved net income of $522.7 million, a decrease of 3.5% compared to the second quarter.

Sales were $1.414 billion, down 0.9%, primarily due to wholesale grocery network sales.

“This slight decline observed over the past three quarters could continue given the economic context,” the company said on Thursday.

In the third quarter, government revenues amounted to $947.4 million, representing a decrease of 3.2%. Of this amount, $774.6 million was allocated to the Quebec Treasury and $172.8 million was allocated to the federal government.

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