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Virginia ABC releases revenue for fiscal year 2020

RICHMOND, Va. (WFXR) – The Virginia Alcoholic Beverage Control Authority (ABC) released it unaudited draft financial statements for the fiscal year 2020.

Figures indicate a gross revenue of $1.2 billion, which is up $117 million from the prior year.

ABC revenues include the sale of distilled spirits, Virginia wines and mixers, and the collection of license fees and other miscellaneous revenues.

Every year, the Code of Virginia mandates Virginia ABC remits earnings to the commonwealth for designated state programs and services.

For FY 2020, ABC contributed a total of $545.3 million which is an increase of $45.8 million over the previous year reflecting $212.1 million in profits from retail sales, $251.4 million in retail taxes and $81.8 million collected in wine and beer taxes.

“In the months leading up to the pandemic, our sales performance was strong with a 7% increase over the prior year. This growth is a testament to our efforts to improve customer experience by providing an assortment of products geared to consumer preferences and opening new store locations where population growth dictates. While we saw even greater growth as the pandemic took hold, we also had to meet the challenges of keeping our customers and employees safe.”

Travis Hill, CEO of Virginia ABC

Throughout FY 2020, retail sales grew 18-percent with a dozen new ABC stores that generated nearly $18.3 million in sales.

ABC oversaw six more remodels and 13 relocations to improved areas in their respective markets.

Online growth was a significant factor in FY 2020’s earnings, averaging 23 orders per day at the start of the fiscal year, and growing to an average of 419 orders per day in July.

Sales figures to both restaurant and hospitality businesses show the significant impact the pandemic has had on these segments of Virginia’s economy. Licensee sales finished the fiscal year with a 19-percent decrease from the prior year.

From March to July, during the heart of Virginia’s pandemic restrictions, sales to licensees ranged from zero-percent to 10.6-percent of ABC’s overall sales volume.

According to FY 2020 sales, the top five brands purchased from Virginia ABC stores were:

  • Tito’s Handmade – domestic vodka
  • Hennessy VS – cognac/Armagnac
  • Jack Daniel’s 7 Black – Tennessee whiskey
  • Jim Beam – straight bourbon
  • Patron Silver – tequila

Of these sellers, Hennessee VS saw the most impressive leap in sales from $35.3 million to $46.9 million, a 33-percent increase.

Tito’s Handmade also saw an increase from $42.1 million to $52.3 million, a 24-percent increase over last fiscal year.

Final audits will be released in the fall.

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The Official Facebook Page of Virginia Alcoholic Beverage Control Authority. Our goal is to facilita
A new Spirited Virginia magazine is hot off the presses! This quarter's cover features something special - A. Smith Bowman Distillery's John J. Bowman bourbon, the spirit you all selected to go in ABC's new time capsule. Read up on cooking with spirits, holiday entertaining and more online or pick up a copy in any ABC store.
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Experience our interactive, profoundly engaging digital publication!
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Check it out y'all - We're highlighting a new Virginia-made spirit, this one comes from Catoctin Creek and has allll the fall flavor notes!
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Each month we will be featuring Virginia-made products you can pick up at an ABC store! Catoctin Creek Distillery crafts their award-winning Roundstone Rye in n…
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A fall harvest 🍂 of new products is coming to an ABC store near you! Our latest lineup includes 33 new products, 6 of them made right here in Virginia. Check them out and get to shopping here: http://ow.ly/mHZY50Ghaxw
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Another month, another celebration - October is Virginia Wine Month! Did you know Virginia is the fifth largest wine-producing state in the country? With seven distinct grape-growing regions and over 200 wineries, fine wines now come from all over the state. Check out our buying guide for Virginia wines including tasting notes, label info and food pairings, then head over to virginiawine.org to see events and celebrations happening this month! http://ow.ly/89DT50Gfzsx
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This month's SWaM Supplier Spotlight recognizes Treo Enterprise Solutions, a key partner to Virginia ABC’s operations.
Treo serves Virginia ABC with production and supply of millwork store fixtures for Virginia ABC retail stores. Treo works directly with ABC's store planning team and field installers to primarily produce custom check-out counters, end panels, mobile tasting bars and more.
Treo has worked directly with Virginia ABC for four years. They also produce millwork …
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Sours: https://www.facebook.com/VirginiaABC
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Lynchburg, Virginia – Blue Hours – Cinematic Drone
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