|
Tito's Handmade Vodka is top brand for 6th year Virginia Business - PUBLISHED AUGUST 31, 2023 BY COURTNEY MABEUS-BROWN Tito’s Handmade Vodka notched its sixth year as the commonwealth’s most popular liquor at Virginia Alcoholic Beverage Control Authority stores in fiscal 2023. According to VABC, the Austin, Texas-based craft vodka accounted for $72 million in sales in fiscal 2023, up $5.1 million over the prior year. Tito’s out-guzzled other spirits by a long shot; Hennessy VS cognac ranked No. 2 in sales at $44 million, Jack Daniel’s Old No. 7 whiskey chased behind, ranking No. 3 at $30.1 million, followed by Patron Silver tequila, at $28.6 million, and Jim Beam straight bourbon whiskey, which accounted for $24 million in sales. Among the top 10 best-sellers, Jameson Irish whiskey rose to No. 6 and Maker’s Mark straight bourbon remained at No. 7. Crown Royal Canadian whiskey dropped to No. 8, Grey Goose vodka rose to No. 9 and Lunazul Blanco tequila joined the top 10, rising 10 spots to No. 10. Fireball whiskey fizzled, dropping to No. 14. The spirit, which has been among the state’s top 50 products, saw the year’s largest decline at 18.4%, with total sales dropping by $3.2 million. The best-sellers list, released Tuesday, follows a report of record revenues for ABC in fiscal 2023. The authority topped off at $1.47 billion in gross revenues last year, up $54.3 million over the previous fiscal year. Among Virginia’s top-selling categories for fiscal 2023, vodka led at 1.64 million cases sold, followed by tequila at 885,876 cases, an 18.4% increase from the previous year. Tequila, which grew from an 11.8% to 13.7% market share, shot past straight bourbon whiskey, which accounted for 780,777 cases in fiscal 2023, followed by cordials/liqueurs at 514,517 cases and rum at 470,292 cases. The fastest-growing categories were moonshine at 25.6%, tequila at 18.4%, specialty drinks (such as gift sets) at 14.8%, domestic ready-to-drink cocktails at 10.1% and straight rye whiskey at 9.8%. The biggest declines were seen in Cognacs/Armagnacs at 14.6%, and Canadian whiskey at 10%. Sloe gin grew 64% but is Virginia ABC’s smallest category, with only 141 cases sold. Sales of Virginia-distilled spirits increased to $24.1 million in sales, with more than 1 million bottles sold. Top sellers in that category included Bowman Brothers Virginia straight bourbon, at $1.6 million, Cirrus Vodka at $1.2 million, John J. Bowman Virginia straight bourbon, with $841,852 in sales, Isaac Bowman port finish whiskey at $623,848 and Virginia Highlands War Horn Whiskey, which accounted for $446,898. Virginia ABC added four stores in fiscal 2023, bringing its total to 399. Here are the top five stores by gallons sold:
August 30, 2023
News Release Contact:Virginia ABC Communications - (804) 213-4413 Email: pubrel@virginiaABC.com Virginia ABC Adjusting Store HoursAll stores to close at 6 p.m. on Labor Day The Virginia Alcoholic Beverage Control Authority (ABC) will adjust its store hours effective September 1. Virginia ABC reviews store hours annually as part of its budget process. The decision on closing times is driven by an analysis of store sales during the last two hours of the day.
These changes to retail store hours are part of the authority’s focus on efficiency opportunities while maintaining customer service as a top priority. Customers can visit Virginia ABC’s website at http://www.abc.virginia.gov to search for stores, determine the availability of products at any retail location and order spirits online for in-store or curbside pickup or home delivery in select areas. Virginia ABC encourages customers to make mindful choices about alcohol during all of life’s celebrations. Resources are available at https://www.abc.virginia.gov/sip-responsibly. News Release Contact:Virginia ABC Communications - (804) 213-4413
Email: pubrel@VirginiaABC.com Virginia ABC’s Fiscal Year 2023 Revenue IncreasesThe Virginia Alcoholic Beverage Control Authority (ABC) released its unaudited financial results for fiscal year (FY) 2023 after the ABC Board of Directors adopted a revised FY2024 budget. Fiscal Year 2024 Budget In actions taken Tuesday, the Board adopted an amended budget that projects profits from retail sales of $244.3 million, a $23.7 million increase over FY2023 results. The adopted budget forecasts a 5.1% growth in revenue while focusing on investing in ABC teammates, maintaining core business systems and continuing to enhance regulatory services to ABC licensees. “The ABC Board met and unanimously approved a new FY2024 budget for ABC that will deliver $244.3 million to the general fund of the Commonwealth,” said ABC Chairman Tim Hugo. “This result was thanks to the collaborative efforts of ABC’s executive leadership team working with the Governor’s administration. This revised budget will strengthen ABC and serve our Commonwealth.” The Board also adopted its five-year forecast that will be used to inform the upcoming biennial budget submission. As part of that forecast, the Authority will continue to focus on growing revenues while controlling costs and enhancing its service to licensees. Fiscal Year 2023 Results FY 2023 results show gross revenue of $1.5 billion, up $54.3 million over FY 2022. ABC revenues include the sale of distilled spirits, Virginia wines and mixers and the collection of license fees and other miscellaneous revenues. Each year, per the Code of Virginia, Virginia ABC remits earnings to the commonwealth for designated state programs and services. For FY 2023, ABC contributed a total of $609.7 million, an increase of $2 million over the previous year, excluding a one-time net gain of $15.1 million in FY 2022 from the sale of ABC’s old corporate headquarters and warehouse. This reflects $220.6 million in profits from retail sales, $307.7 million in taxes (retail) and $81.4 million collected in wine and beer taxes. ”Virginia ABC continues to focus on its mission of strengthening the Commonwealth through public safety, education and revenue from the responsible regulation and sale of alcoholic beverages,” said CEO Travis Hill. Providing these essential services to all Virginians is only possible thanks to our dedicated workforce and their tireless commitment to service.” Sales trends Overall sales revenue for the authority in FY2023 grew by $54.3 million to $1.472 billion. Total sales volume grew from 6.32 million cases to 6.46 million cases. Throughout the year, sales rose on each day of the week, except for Thursdays. Sunday sales increased by $3.4 million to $102.3 million. Saturday led all days, with $280.4 million of sales. Sales to licensees increased by $20.9 million to $250.4 million, indicating the continued strength of Virginia’s hospitality industry. Sales to retail customers also increased by $44.6 million, to $1.18 billion. Online sales totaled $8.8 million. Virginia ABC has transferred over $900 million in profits to the Commonwealth in the last four years, exceeding its profit transfer requirement – an amount set in the Commonwealth’s biennial budget that is adopted by the Virginia General Assembly – in each of those years. The authority has contributed $77.6 million above that requirement during that period. Virginia ABC’s final, audited results will be released in the fall. For more information about ABC’s sales and revenue, visit www.abc.virginia.gov. ### The Virginia Alcoholic Beverage Control Authority (ABC) is a major source of revenue for the commonwealth, contributing nearly $2.9 billion to the general fund in the last five years. Profits from in-store and online retail sales provide funding for designated state programs and services. Virginia ABC currently operates 399 state stores and provides alcohol education and prevention programs for people of all ages. Its Bureau of Law Enforcement oversees nearly 21,000 ABC licensed establishments. Now marking its 89th year, ABC remains committed to progress and innovation in carrying out its vision of bringing good spirits and excellent service to Virginia. by: Tyler Englander - WRIC
Updated: Aug 17, 2023 / 06:37 AM EDT $550K stolen from Va. ABC stores so far in 2023 RICHMOND, Va. (WRIC) – Liquor thieves are targeting Virginia ABC stores in large numbers. Data obtained by 8News shows there were 2,881 shoplifting incidents at ABC stores from January 1, 2023 through June 30, 2023. Over 9,700 bottles of alcohol were stolen with a total value of $551,662. “Retail shrink is a growing national issue and Virginia ABC sadly is not immune to that problem.” Virginia ABC Public Relations Specialist Pat Kane said. Less than a month ago, Richmond Police Chief Rick Edwards told reporters that shoplifting at ABC stores was contributing to a rise in crime in Virginia’s capital city. “ABC stores, for whatever reason, are being targeted and thieves are walking in and just walking out,” Edwards said. One store in Portsmouth was robbed 116 times, losing over $21,000 in liquor. Meanwhile, in Williamsburg, a thief made out with a bottle of Remy Martin Louis XIII Cognac worth $4,699.99. Kane says, as a result, security changes are being made. “Another item that we are doing is really looking on a store-by-store basis, what are those top stolen, top pilfered items and can we move them within the store to make them less visible to thieves, to reduce the inventory of those specific items,” Kane said. Despite the high number of thefts, ABC has no plans to lock up valuable products. “This is a balancing act that all retailers are looking at, which is how do you make the store open, friendly, a positive shopping experience versus how you reduce those theft opportunities,” Kane said. “Locking up products is part of that discussion, but we are not moving in that direction at this specific time.” It’s important to note that these statistics only include thefts by the public. ABC says it doesn’t keep track of employee thefts.
Author: Matt Pusatory (WUSA9) Published: 2:20 PM EDT August 16, 2023
Updated: 2:20 PM EDT August 16, 2023 Here are some of the biggest changes to the lottery system.
RICHMOND, Va. — If you're a connoisseur of fine liquors and spirits in the Commonwealth, chances are you have heard of the Virginia Alcoholic Beverage Control Authority's online lotteries. Throughout the year, Virginia ABC offers special releases of products, including highly sought bourbons, whiskeys and other small-batch spirits offerings, for purchase by lottery. Some big changes are coming to the lottery process.
To enter a lottery, an entry form is available online for a period of at least three days. Odds depend on the number of entries received and the number of bottles available. At the close of the lottery period, Virginia ABC uses a random drawing process to select the winning entries for each product code offered in the lottery. The next lottery is being held Aug. 21-25. Here are the changes taking effect:
The next lottery is for 72 bottles of Reservoir Hazmat Rye Whiskey. Winners and non-winners will be notified on Sept. 1. |
Details
Archives
June 2023
Categories
All
|