Virginia ABC has record-breaking year with $1 billion in revenue

Virginia ABC has record-breaking year with $1 billion in revenue
A Virginia ABC store. (Source: Virginia ABC)

RICHMOND, Va. (WWBT) - Liquor sales in Virginia were at an all-time high over the last year as Virginia ABC took in more than $1 billion.

The record-breaking revenue was up more than $71 million from the previous year in fiscal year 2019.

The increased revenue was due to adding seven stores throughout the state as well as season promotional campaigns, according to a press release. The new stores generated about $8 million in sales.

Virginia ABC CEO Travis Hill said in the release that it doesn’t necessarily mean Virginians are consuming more alcohol, but instead Virginia ABC customers are choosing more premium spirits, which come with a higher price tag.

The top five brands purchased through Virginia ABC in fiscal year 2019 were Tito’s Handmade domestic vodka, Hennessy VS cognac, Jack Daniel’s 7 Black Tennessee whiskey, Jim Beam straight bourbon and Fireball Cinnamon. The top two sellers also so the greatest increase in sales from the previous year.

According to an infographic posted to Virginia ABC’s Facebook page, 40 percent of its income goes toward education.

We've got a billion reasons to celebrate... Because this past fiscal year we hit $1 billion in revenue! So where does...

Posted by Virginia ABC on Tuesday, August 13, 2019

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