Virginians’ love for Hennessy VS cognac and Tito’s Handmade vodka helped the Virginia Alcoholic Beverage Control Authority (ABC) increase gross revenue in fiscal year 2020 by more than $100 million.
Unaudited financial statements for fiscal 2020 showed a gross revenue of $1.2 billion for Virginia ABC, which was a $117 million increase over fiscal year 2019. State-law-required earnings returned to the state totaled $545.3 million, a $45.8 million increase over fiscal 2019.
The contribution to the commonwealth included $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 percent increase over the prior year,” Virginia ABC CEO Travis Hill said in a statement. “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.”
Virginia ABC is an independent political subdivision and administers ABC laws in the state while overseeing the sale and consumption of alcohol. ABC manages the statewide sale and distribution of distilled spirits at the wholesale level, and ABC stores are the only retail outlets in Virginia where customers can purchase liquor.
Virginia ABC revenues include sales of distilled spirits, Virginia wines and mixers, and the collection of license fees and other miscellaneous revenues. ABC operates 389 state stores, and its Bureau of Law Enforcement oversees more than 18,000 ABC licensed establishments.
Online ordering grew significantly in fiscal 2020, Virginia ABC said. An average of 23 online orders were placed each day at the start of the fiscal year, but that number grew to 419 orders a day by July. ABC started offering curbside pickup at 370 stores in May.
The top five brands of liquor bought at Virginia ABC stores were Tito’s Handmade vodka, Hennessy VS cognac, Jack Daniel’s 7 Black whiskey, Jim Beam straight bourbon and Patron Silver tequila.
Sales of Hennessy VS cognac jumped 33 percent over the previous fiscal year, from $35.3 million to $46.9 million. Sales of Tito’s Handmade vodka, the top seller in Virginia ABC stores, jumped from $42.1 million to $52.3 million, a 24 percent increase over fiscal 2019.
