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102786.1 <br />3j <br />TO: Mayor and City Council G C i 2 U <br />FROM: Mark Bernhardson, City Administrator�,� <br />DATE: October 27, 1986 err' <br />SUBJECT: Third Liquor Store Report <br />ISSUE - Information for the Coucil to commence deliberations <br />regarding the future of the liquor store. <br />DISCUSSION - While the results from the se.-)nd quarter were less <br />than targeted fiqures the results from the third quarter have <br />shown a substantial turnaround. These include in comparison to <br />the f irst 9 months of 1985 <br />- Sales up 14% <br />- Cost of sales up 7.8% <br />Gross profit up 15.2% <br />- Expenses down. .6% <br />- Income up $15-16,000 <br />- Inventory 39.2% <br />RESULTS THRU SEPTEMBER 1986 <br />1986 <br />83 <br />84 <br />85 <br />Target <br />Actual <br />Net Sales <br />327,858 <br />314,879 <br />319,237 <br />350,000 <br />364,189 <br />Cost of Sales <br />233,293 <br />224,964 <br />237,322 <br />253,840 <br />256,011 <br />Gross Profit <br />94,565 <br />89,915 <br />84,694 <br />95,880 <br />97,629 <br />Expenses <br />83,660 <br />86,723 <br />93,098 <br />92,250 <br />90,522 <br />Operating Income <br />10,905 <br />3,187 <br />(8,404) <br />3,630 <br />7,107 <br />Non Op Revenue <br />2,776 <br />2,814 <br />1,691. <br />1,550 <br />2,130 <br />Net Income <br />13,681 <br />6,002 <br />(6,713) <br />5,180 <br />9,237 <br />Inventory <br />106,909 <br />1.33,609 <br />100,000 <br />81,300 <br />