02-25-1985 Council Packet - Laserfiche WebLink

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Analysis of city liquor store operations for 1982 State auditor Decreasing sal, and drdimng net income are evident in the summary analysis of o(y liquor store operations in 1982. In the 348 cities which oper- ated,liquor stores, 44 stores suffered operating losses, while 26 stores had net losses. Seven stores closed during the year. In contrast, 18 stores contnb uted $100,000 or more to the city general fund. which indicates the sharp contrasts in profit among the stores. City liquor store sales decreased $6.8 ndOlon to $139,291,307 in 1982. compared to 1981 sales of $146.152.224. Cost of sales declined slightly from 68.8 percent an 1981 to 68.6 in 1982. Gross profit for all stores increased to 31.4 percent in 1982. up from 31.2 percent in 1981. Operating expense continued to rise to 25.2 per cent as compared to 23.9 percent in 1981. and 23.4 percent in 1980. Open acing income of $8.605,815 Is down from $10.618.860 to 198). Net income of all stores totaled $11,408.184, down sharply from $13.971.092 a year earlier. Contribu. tion of city liquor store profits to other city funds was down slightlyin 1982. amounting to $9,079,436 compared to $9.586,768 for 1981, Twenty -fire city liquor stmes had gross sales in 1982 in excess of $1 million and two. Edina and Richfield. had sales of $5.7 million and $5.5 million, respectively. The most prufita ble city liquor store was Richfield with an operating income of $442.410 fob lowed by St. Anthony and Edina. Twenty-four stores had net wows of over $100.000 in 1982, as cu"wed to 30 stores in 1981. Net income for all stores was $11.408,i84. an average 8 2 percent of sales, compared to 9.6 percent b, 1981. SevenlY,ighl stores made no moon. bulions to other muns-Ipal funds to 1982 and 13 required cornributxrnx fnsn so, - emmrntd fund, NOrerrrber 1983 Summary of 1982 city liquor stores operations On and off -sale stores - 258 cities Percent of sales Item Amount 1992 1981 Sales 90.355.740 100.0 100.0 Cost of sales 49,701.888 61.9 62.5 Gross profit 30,653,852 39.1 37.5 Operating expense 25.978.078 32.3 30.3 Income from operations 4.675,774 5.8 7.2 Nonoperating revenues 2.216.840 2.8 3.3 Nonoperaung expenses 334.947 0.4 0.4 Net income 6.557.667 8.2 10.1 Transfers to other city funds 5.296.846 -- -- Off-sale only stores: 90 cities p /b� ercent of sales Item Amount 01982 1981 Sales S58,935,567 100.0 100.0 Cost of sales 45,799.055 42 % 77.7 78.0 Gross profit 13.136.512 30.3 22.3 22.0 Operating expense 9.206.471 oy, 3 15.6 14.6 Income from operations 3.930,041 (e.p 6.7 7.4 Nonoperating revenues 1.072.305 /.S 1.8 1.6 Nonopenting expenses 151.829 - 0.3 0.2 Net income 4850,517 -7, S 8.2 8.8 Transfers to other sty funds 3:782.590 -- All stores: 348 cities Percent of sales Item Amosmt 1992 1981 Sales $139.291.307 100.0 100.0 Cost of sales 95.500.943 68.6 68.6 Gross profit 43,790.364 31.4 31.2 Operating expense 35.184.549 25.2 Z4.9 Income from operations 8.605,815 6.2 7.3 Nonoperatmg revenues 3,209.145 2.3 2.7 Nonopentmg expenses 486.776 0.3 0.4 Net income 11,408.184 8.2 9.6 Transfers to other cav foods 9,079.436 -- -- Operating income as a percent of sties Percent of Wee Item 1982 1981 1980 On and off sA, sore, 5.8 7.2 8.3 Off sal, oNr sorr, 6 7 7 4 8.0 All storr, 6 2 7.3 82 17