Latest news with #SociétédesalcoolsduQuébec
LeMonde
6 days ago
- Business
- LeMonde
Canadian wine benefits from trade war with the US
Even as smoke from wildfires in western Canada obscured the outlines of his vineyards, nothing dampened the optimism of Charles-Henri de Coussergues, a winemaker originally from Avignon, France. He has been established in Canada for nearly half a century. "It's really been a wonderful year so far," he said, gazing out over his estate in Dunham, southern Quebec, just 15 kilometers from the US border. Since March, his sales have surged, with increases ranging from 5% to 35% depending on the bottle. This upswing has been one of the side effects of the trade war waged by US President Donald Trump, who has imposed a series of tariffs on Canada. On March 4, in retaliation for a 25% US tax on Canadian products imported to the United States, most Canadian wine and spirits stores – including those of the government-owned corporation Société des alcools du Québec (SAQ) – pulled American bottles. The empty shelves were partially restocked with Canadian products. Since then, from east to west, Canadian wines have ridden a wave of patriotic buying that shows no sign of slowing. The Conseil des vins du Québec estimated that sales of Quebec wines at the SAQ went up by 63% between March 1 and May 20. Producers in neighboring Ontario also saw sales jump by nearly 40% compared to 2024. And in the West, home to some of the country's most renowned wines, including whites from the Okanagan Valley, Jeff Guignard, CEO of the association Wine Growers British Columbia, has observed a similar trend: "Sales are increasing, and since our harvests were not abundant in 2024, particularly due to forest fires and frost, our stocks are not unlimited... But demand is strong! We are happy about that!"
Cision Canada
05-06-2025
- Business
- Cision Canada
The SAQ announces net income of $1.401 billion for fiscal 2024-2025 Français
, June 5, 2025 /CNW/ - For its 2024-2025 fiscal year, which ended on March 29, 2025, the Société des alcools du Québec (SAQ) reported net income of $1.401 billion, a $27.3 million or 1.9% decrease from the preceding fiscal year. The 2024-2025 fiscal year consisted of 52 weeks. The results are compared with those of the 2023-2024 fiscal year, which comprised 53 weeks. A $1.401 billion dividend, corresponding to the entirety of the net income earned, will be remitted to the Quebec government. Government revenues totalled $2.609 billion, down $84.3 million from the preceding fiscal year. The goods and services tax (GST) break accounts for $27.6 million of the decrease. Altogether, $2.130 billion is destined for the Quebec treasury and $478.4 million for the federal government. Overall dollar sales decreased 1.4% to end the fiscal year at $4.042 billion. Volume sales fell 3% to 216.4 million litres. Sales in the SAQ's store and specialized centre network dropped $90.4 million or 2.4% from the preceding fiscal year, with the corresponding volume sales declining 8.7 million litres or 4.6%. The trend toward lower volumes noted in the last two years is largely due to changes in customers' shopping habits *. The SAQ will continue deploying initiatives to deal with market conditions and the trend toward lower volumes. * Information evaluated on a comparable fiscal year-over-year basis. Detailed results: Store and specialized centre network (permit holder, agency store and other customers) Dollar sales in this network totalled $3.682, a $90.4 million or 2.4% decrease. Volume sales fell 8.7 million litres or 4.6% to 178.8 million litres. Online sales were up 2.6% from the preceding fiscal year, reaching $107.3 million and accounting for 3.6% of consumer sales. The value of consumers' average shopping cart increased 0.3%, going from $63.13 to $63.35. For consumer sales overall, the average per-litre sales price rose to $22.03, compared with $21.68 for the preceding fiscal year. Wholesale grocer network Dollar sales in this network grew $31.9 million or 9.7% to reach $359.9 million. Volume sales totalled 37.6 million litres, compared with 35.5 million litres for the preceding fiscal year, a 2.1 million litre or 5.9% increase. It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales made in this network do not necessarily correspond to the sales these establishments made to consumers. Net expenses Net expenses rose to $618.7 million versus $603.6 million for the preceding fiscal year, a $15.1 million or 2.5% increase. Expressed as a percentage of sales, net expenses ratio ended the year at 15.3%, compared with 14.7% for the preceding fiscal year. The SAQ makes its results available to all Quebecers in its Annual Report 2024-2025. About the Société des alcools du Québec (SAQ) Created in 1921, the SAQ imports, distributes and sells a broad range of wines, beers and spirits. Its sales network comprises 408 stores and 429 agency stores located throughout Quebec as well as a transactional website, Driven by the passion and know-how of its nearly 7,000 employees, the SAQ offers Quebecers a world of discovery, with close to 40,000 products from more than 6,000 suppliers in 77 countries. In fiscal 2024-2025, the SAQ remitted $2.1 billion to the Quebec government and supported some 250 organizations and events while also ensuring its business activities respected local communities and the environment.
Yahoo
05-06-2025
- Business
- Yahoo
The SAQ announces net income of $1.401 billion for fiscal 2024-2025
MONTREAL, June 5, 2025 /CNW/ - For its 2024-2025 fiscal year, which ended on March 29, 2025, the Société des alcools du Québec (SAQ) reported net income of $1.401 billion, a $27.3 million or 1.9% decrease from the preceding fiscal year. Results in brief The 2024-2025 fiscal year consisted of 52 weeks. The results are compared with those of the 2023-2024 fiscal year, which comprised 53 weeks. A $1.401 billion dividend, corresponding to the entirety of the net income earned, will be remitted to the Quebec government. Government revenues totalled $2.609 billion, down $84.3 million from the preceding fiscal year. The goods and services tax (GST) break accounts for $27.6 million of the decrease. Altogether, $2.130 billion is destined for the Quebec treasury and $478.4 million for the federal government. Overall dollar sales decreased 1.4% to end the fiscal year at $4.042 billion. Volume sales fell 3% to 216.4 million litres. Sales in the SAQ's store and specialized centre network dropped $90.4 million or 2.4% from the preceding fiscal year, with the corresponding volume sales declining 8.7 million litres or 4.6%. The trend toward lower volumes noted in the last two years is largely due to changes in customers' shopping habits*. The SAQ will continue deploying initiatives to deal with market conditions and the trend toward lower volumes. Net income $1.401 billion -1.9% Sales $4.042 billion -1.4% Gross margin $2.020 billion -0.6% Ratio of net expenses to sales 15.3% 14.7% in fiscal 2023-2024 *Information evaluated on a comparable fiscal year-over-year basis. Detailed results: Store and specialized centre network (permit holder, agency store and other customers) Dollar sales in this network totalled $3.682, a $90.4 million or 2.4% decrease. Volume sales fell 8.7 million litres or 4.6% to 178.8 million litres. Online sales were up 2.6% from the preceding fiscal year, reaching $107.3 million and accounting for 3.6% of consumer sales. The value of consumers' average shopping cart increased 0.3%, going from $63.13 to $63.35. For consumer sales overall, the average per-litre sales price rose to $22.03, compared with $21.68 for the preceding fiscal year. Wholesale grocer network Dollar sales in this network grew $31.9 million or 9.7% to reach $359.9 million. Volume sales totalled 37.6 million litres, compared with 35.5 million litres for the preceding fiscal year, a 2.1 million litre or 5.9% increase. It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales made in this network do not necessarily correspond to the sales these establishments made to consumers. Net expenses Net expenses rose to $618.7 million versus $603.6 million for the preceding fiscal year, a $15.1 million or 2.5% increase. Expressed as a percentage of sales, net expenses ratio ended the year at 15.3%, compared with 14.7% for the preceding fiscal year. The SAQ makes its results available to all Quebecers in its Annual Report 2024-2025. About the Société des alcools du Québec (SAQ) Created in 1921, the SAQ imports, distributes and sells a broad range of wines, beers and spirits. Its sales network comprises 408 stores and 429 agency stores located throughout Quebec as well as a transactional website, Driven by the passion and know-how of its nearly 7,000 employees, the SAQ offers Quebecers a world of discovery, with close to 40,000 products from more than 6,000 suppliers in 77 countries. In fiscal 2024-2025, the SAQ remitted $2.1 billion to the Quebec government and supported some 250 organizations and events while also ensuring its business activities respected local communities and the environment. For more information, visit the website, follow us on X (@LaSAQ_officiel) or view our Facebook and LinkedIn pages. SOURCE Société des alcools du Québec (SAQ) View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBC
11-03-2025
- Business
- CBC
Quebec liqueur company caught in crossfire of U.S. alcohol ban
A liqueur company says it's been bottled up with its American counterparts and pulled from SAQ store shelves — despite being based in Laval, Que. The founder of LS Cream Liqueur, Stevens Charles, says he started receiving concerned text messages from customers unable to find the Haitian-style drink after U.S. President Donald Trump's tariffs came into effect last week. "The way that it looks right now, it looks like LS Cream is part of the problem," he told CBC's Daybreak. Though headquartered in Laval, Charles says the company bottles its product in the U.S., a decision it made after it struggled to enter the Quebec market via the call for tender process when it was starting out around 2014. After a year in business, Charles says the province's liquor board, the Société des alcools du Québec (SAQ), began placing orders for his product. "We've been a fairly good success for all those years because as you know, if you don't perform, they never reorder again. And we've been selling out all our orders ever since," he said. The cream liqueur is inspired by the Haitian celebratory drink crémas, which is infused with nutmeg, cinnamon, star anise, among other ingredients reminiscent of the holidays. The SAQ, for its part, says it considers LS Cream Liqueur to be a U.S. product, reiterating the statement it issued when the Quebec government asked it to pull American alcohol from its shelves. The removal "includes wines, spirits, locally bottled American products, and beers in transit intended for brewers," according to the statement. LS Cream is produced in Buffalo, N.Y., bottled in Florida, then shipped to a depot in New Jersey where the SAQ typically picks it up for import to Canada. Charles says he's reached out to the board about his unique situation but says he hasn't heard back, adding that he hopes a compromise can be reached. He says that he understands the ban but hopes the board can see that his is not the "embodiment of a U.S.-based company." Last year, the board featured an interview with Charles and his co-founder Myriam Jean-Baptiste on its site highlighting them for Black History Month. "We're Haitian-Canadians that bottle [an] ancestral recipe from Haiti. That's the story. We're not a chameleon, we're not trying to be Canadian here, U.S. there." Charles, who lives with his family in Laval, says he's looking into possibly adding operations in Canada, but says it's complicated.
CBC
06-03-2025
- Business
- CBC
Americano? Nope. Try a Canadiano at this Montreal café as trade war heats up
Social Sharing Montreal cafés, bars, and restaurants are getting their elbows up and removing American products from their menus to send a bold message to the United States after President Donald Trump slapped a 25 per cent tariffs on Canadian goods. At a café in the West Island, one item is sparking conversation. Ashley Murdoch, co-owner of Coco & Bean café, says her café is doing its part to take a stand against the United States by renaming the Americano coffee to the "Canadiano." "We wanted to, without getting too political, have fun with the idea and switch our name ... to really show how we support and how we're trying to support our community," said Murdoch. "We love our community and we want to show them that we're all in it together." This shift comes after Trump's tariffs took effect on Tuesday, prompting Prime Minister Justin Trudeau to impose 25 per cent retaliatory tariffs on U.S. products. At Murdoch's coffee shop, she says most of the ingredients are Canadian. For the few that are American, she is committed to finding alternative suppliers. She noted that her clients have responded positively to the changes so far and she applauds other local business owners who are joining the movement. "I love it, I think it's great that we're standing together. We have to do something, it's our voices that are going to make a difference at the end of the day," she said. WATCH | Montreal venues take a stand against tariffs: Montreal cafés, venues take a stand in ongoing U.S. trade war 3 minutes ago Duration 2:44 John Edward Gumbley, president of JEGantic group, which runs Yoko Luna bar, has been outspoken about tariffs since Trump's threats began making headlines. In February, he posted a series of videos on Instagram called "Trump for Dummies" to share his thoughts and explain the situation to his followers. "[Trump] scared the American population into worrying about what's going to happen to them, why can't they afford bacon and eggs," said Gumbley. "And now, he's putting forth policies that are going to make bacon and eggs cost more." In response, he is removing several American alcohol brands from his establishments, including a wine from California, a vodka brand from Miami and even Jack Daniel's whiskey — a bestseller at his bars and clubs. Gumbley anticipates Canada's counter-tariffs could increase the cost of the ingredients he purchases by 25 per cent, but says he won't pass the burden onto customers. This could cause a "lot of pain" for his businesses, forcing them to absorb the additional costs. Still, he believes it's the right course of action. "This is Canada first and everybody has to do their part because the only way to really end this issue is if they feel the pain as well," he said of the U.S. "We have to find ways to fight back and slowly develop independence from them so this can't happen again." As of Tuesday, the Société des alcools du Québec (SAQ), Quebec's liquor board, started pulling American products from its shelves at the request of Premier François Legault. Morrie Baker, owner of Burger Bar Crescent, also chose to remove Jack Daniel's whiskey from his shelves, even though it's his "major sponsor" during the Formula One weekend in the city. "This is all happening so quickly, in real time, that nobody really has a chance to plan and to react," he said. He's revised his drink recipes, replacing the iconic American Tennessee whiskey with Canadian Club rye whiskey. While he anticipates an influx of American tourists in the city this summer because of the low value of the Canadian dollar, he says for now, he's determined to support Canadian products. "We're not shopping American. We believe in elbows up. We're Canadian and we have to support ourselves," he said.
