BE liquor store only one with a profit
Wells, Kiester, Elmore, municipals all show net losses in 2019
The Blue Earth municipal liquor store was the only one in Faribault County to show a profit in 2019, according to information released last week by the State Auditor’s Office.
The other three, located in Wells, Kiester and Elmore, all showed a net loss.
According to the report, Blue Earth Wine and Spirits liquor store had sales of $1.65 million in 2019, and showed a net profit of $90,497.
Wells Liquor Store had sales of $825,435 and showed a net loss of $35,428 for 2019. (Recently the new Wells Depot Liquors store showed sales of $1.118 million with still one month to go for the 2020 year.)
Elmore’s municipal liquor store showed gross sales at $122,042, with a net loss of $17,410. And, Kiester’s municipal had gross sales of $175,921 with a loss for the year of $10,490.
Blue Earth’s gross sales of $1.65 million put them at 63rd in the state, out of 182 city run municipals. Wells was in 98th place with their $825,435, Kiester was 178th in the state and Elmore was in 180th place.
When it comes to ranking the 182 stores by net profit/loss as a percent of sales, Blue Earth was 94th in the state with 5.5 percent, Wells at 167th with -4.3 percent, Kiester at 171 with -6.0 percent and Elmore at 180th with -14.3 percent.
Top sales at a municipal, city-owned liquor store in the state was $16.288 million in Lakeville. The least amount was $120,248 in Fairfax, but that store was sold during the year.
Overall sales of all municipals in the state, both off-sale only and on and off sale, were $372 million in 2019.