Montreal, March 28, 2022 – For the third quarter of its 2021-2022 fiscal year, which ended on January 1, 2022, the SAQ reported net income of $495.7 million, up $37.1 million or 8.1% from the third quarter of the preceding fiscal year. Dollar sales rose 6.8% to $1.354 million, while litre sales rose 75.8 million litres, a 1.2% increase.

This sales growth is partly attributable to developments in the pandemic situation in Quebec. The easing of public health measures during the second quarter continued until the end of December, helping to boost the SAQ’s sales. In addition, the continuation of some of the restrictions on travel outside Quebec contributed to a positive tourism balance sheet, with more Quebecers spending their vacations in the province.

Net income
$495.7 million


$1.354 billion


Gross margin

$675.4 million


Ratio of net expenses to sales


Store and specialized centre (permit holder, agency store and other customers) network

  • Dollar sales in this network totalled $1.231 billion, a $112.7 million or 10.1% increase.
  • Volume sales rose 4.3 million litres or 7.5% to 61.6 million litres.
  • Cooler sales reached $23.6 million, a $7.3 million or 44.8% increase, while volume sales climbed 1.2 million litres or 41.4% to 4.1 million litres. This performance is attributable to customers’ sustained enthusiasm for these products.
  • The gradual re-opening of bars and restaurants during the quarter was a contributing factor to the $92.6 million or 64.3% increase in sales to this customer segment.
  • The average sales price per litre rose to $21.84, compared with $21.70 in the corresponding quarter of fiscal 2020-2021.
  • The value of consumers’ average shopping cart decreased from $78.42 to $71.45. This 8.9% drop is mainly due to the gradual return to conventional shopping behaviour, with customers visiting stores more often but spending less each visit.
  • Online dollar sales fell 6.2% to $36.5 million and now account for 3.4% of consumer sales.
  • As at January 1, 2022, the end of the first 40 weeks of its 2021-2022 fiscal year, online sales were 5% higher than in the preceding fiscal year.

Wholesale grocer network

  • Dollar sales in this network declined $26 million or 17.4% to $123.2 million.
  • Volume sales experienced a 3.4 million litre or 19.3% decrease, ending the quarter at 14.2 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 that these establishments make to consumers.

Net expenses

  • Net expenses totalled $179.7 million, compared with $176.8 million for the third quarter of fiscal 2020-2021, a $2.9 million or 1.6% increase.
  • Expressed as a percentage of sales, net expenses were 13.3% as opposed to 14% in the corresponding quarter of the preceding 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 Q3 2021-2022.