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Editor's Note: Below is a complimentary excerpt from a new research note written by Hedgeye Restaurants analysts Howard Penney and Daniel Biolsi. To access our institutional research email sales@hedgeye.com. |
Skyrocketing Liquor Sales
Americans may be prevented from consuming alcohol in bars and restaurants, but with liquor stores deemed essential businesses sales are up substantially. According to last week’s sales data of 48,000 liquor stores from Womply (CRM software provider) weekly sales were up in nearly every state.
New York state liquor sales increased 100% on March 10 and by the following Monday when bars and restaurants were closed YoY sales increased 340% according to the data from Womply.
Daily grocery sales reflect the initial stockpiling of food.
Sales at local grocers have inflected much more significantly than the large national chains data from Nielsen. The recent deceleration in the local grocers sales from Womply likely reflects a combination of shelves and freezers being full and grocery shelves being empty of items like toilet paper and meat.
To access our institutional research email sales@hedgeye.com