For the first quarter of its 2022-2023 fiscal year, which ended on June 18, 2022, the SAQ reported net income of $325.6 million, a $41.6 million or 14.6% increase from the same quarter of the preceding fiscal year. Dollar sales rose 9.7% to $913.1 million, while litre sales reached 53.7 million litres, a 2.9% increase.

The sales growth is attributable to the resumption of business activities in the hospitality industry (restaurant and bar).

Net income

$325.6 million


$913.1 million

Gross margin

$460.0 million

Ratio of net expenses to sales



Store and specialized centre (permit holders, agencies and other customers) network

  • Dollar sales in this network totalled $830.5 million, an $80.6 million or 10.7% increase.
  • Volume sales rose 1.7 million litres or 4% to 44.1 million litres.
  • The reopening of restaurants and bars was a factor contributing to the $93 million increase in sales to this customer segment. Restaurant sales have now reached prepandemic levels, with consumer sales dropping $12.2 million as a result.
  • Online dollar sales totalled $23.8 million, an 8.5% decrease. They now make up 3.6% of all consumer sales.
  • The average sales price per litre rose to $20.36 versus $19.77 for the corresponding quarter of last fiscal year.
  • The value of the average shopping cart of in-store customers dropped from $69.71 to $65.40. The 6.2% decrease is mainly due to consumers’ gradual return to their former shopping habits; they now shop more frequently, as is shown by the 4.6% increase in store traffic, but spend less each visit.
  • For the first quarter of the 2022-2023 fiscal year, sales of Quebec products totalled $128.2 million, a 12.1% increase. Quebec products now account for 19.2% of consumer sales. Of the total, $7.2 million was for Origine Québec products, which now make up 5.6% of all Quebec product sales.

Wholesale grocer network

  • Dollar sales in this network rose $0.3 million or 0.4% to $82.6 million.
  • Volume sales experienced a 0.2 million litre or 2% decrease to end the quarter at 9.6 million litres.
  • It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales made in this network do not necessarily correspond to the sales these establishments made to consumers.

Net expenses

  • Net expenses totalled $134.4 million as opposed to $128.5 million for the first quarter of fiscal 2021-2022, a $5.9 million or 4.6% increase.
  • Expressed as a percentage of sales, next expenses in the first quarter were 14.7%, compared with 15.4% for the same quarter last fiscal year.

The SAQ’s quarterly financial results, including its sales and expense trends for the last five years, are accessible to all Quebecers in its Quarterly Report Q1, now available (in French only) on SAQ.COM.