RICHMOND, Va. (WFXR) – The Virginia Alcoholic Beverage Control Authority (ABC) released its unaudited draft financial results for fiscal year (FY) 2021.
They report a gross revenue of $1.4 billion – an increase of $163 million over FY 2020.
ABC fiscal year revenues include the sale of distilled spirits, Virginia wines and mixers, and the collection of license fees and other miscellaneous revenues from July 1 through June 30.
Annually, per the Code of Virginia, Virginia ABC remits earnings to the Commonwealth for designated states programs and services.
For FY 2021, ABC contributed a total of $616.4 million – an increase of $71.1 million over the previous year, reflecting $237.3 million in profits from retail sales, $294 million in taxes (retail) and $$85.1 million collected in wine and beer taxes.
“The resourcefulness and dedication of our ABC teammates, especially those in retail and distribution, enabled us to overcome tremendous challenges to achieve a record-breaking year. Leveraging our flexibility as an independent authority and the creativity of our employees, we have become nimbler and more customer-focused, enabling us to better serve Virginians at the highest level for decades to come.”Travis Hill, CEO
During FY 2021, retail sales grew 14.7 percent with six new ABC stores generating nearly $4.9 million in sales.
ABC oversaw four store remodels and 10 store relocations to growing market areas.
Sunday sales also continued to play a role in increasing revenue by 11.8 percent in FY 2021 to $104.9 million.
Online orders also contributed at the start of FY 2021 as customers used in-store pick-up, curbside pick-up and next-day shipping to maintain social distancing.
While the rate of online orders declined over the course of the year as customers returned to in-person shopping, online transactions continued to be well ahead of pre-pandemic levels as ABC expanded the availability of shipping and introduced same-day delivery on a limited basis.
According to FY 2021 sales, the top five brands purchased in a Virginia ABC store were:
- Tito’s Handmade – domestic vodka
- Hennessy VS – cognac/Armagnac
- Jack Daniel’s 7-Black – Tennessee whiskey
- Patron Silver – tequila
- Jim Beam – straight bourbon
Of the top five sellers, Patron Silver tequila saw the most impressive leap in sales, from $20.9 million to $28.9 million – a 38.1 percent increase, followed by Hennessy VS cognac from $46.9 million to $52.8 million – a 12.6 percent increase.
Tito’s Handmade vodka sales also rose from $52.3 million to $57.9 million – a 10.5 percent increase over FY 2020.
For additional information about sales and revenue from Virginia ABC stores, click here.
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