February 03, 2014 08:30 ET
EDMONTON, ALBERTA--(Marketwired - Feb. 3, 2014) - Liquor Stores N.A. Ltd (the "Company") (TSX:LIQ), North America's largest publicly-traded liquor retailer (based upon number of stores and revenue) today announced that the British Columbia Ministry of Justice has released its Liquor Policy Review Report (the "Report"). Included within the Report is a recommendation to introduce liquor sales into grocery stores. The government has indicated its intention to support all recommendations in the Report, although the timing of any regulatory changes and the specifics of the grocery store model remain uncertain. The Company currently operates 33 retail liquor stores and three wine stores in British Columbia.
"Given the current uncertainties surrounding the actual timing of any provincial legislation and the regulatory model that would eventually be used to phase-in liquor sales to B.C. grocery stores, it is difficult to quantify the potential impact that this may have on our B.C. stores at this time" said Stephen Bebis, President and CEO of Liquor Stores N.A. "We will continue to monitor these developments closely and evaluate appropriate measures to minimize the impact on our B.C. revenues and operating margins, while maintaining our focus on providing the best product selection, service and value proposition for our customers." He added, "Also included within the Report are changes we believe will assist us in creating greater business efficiencies, including new rules permitting the warehousing of inventory and the ability to transfer inventory between stores."
About Liquor Stores N.A. Ltd.
The Company currently operates 246 retail liquor stores in Alberta, British Columbia, Alaska and Kentucky. The Company's common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols "LIQ" and "LIQ.DB.A", respectively.
Additional information about Liquor Stores N.A. Ltd. is available at www.sedar.com and the Company's website at www.liquorstoresna.com.
Liquor Stores N.A. Ltd.Patrick de Grace, CASenior Vice President and Chief Financial Officer(780) 917-4179
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