Last week, Minnesota State Auditor Rebecca Otto released her office’s 2017 Municipal Liquor Store Report.
Last week, Minnesota State Auditor Rebecca Otto released her office’s 2017 Municipal Liquor Store Report. The report presents comparative data on municipal liquor operations operated by Minnesota cities.
According to the report, Fiesta City Liquors of Montevideo showed a net profit of $91,292, or 4.2 percent of sales during 2017. The store’s gross profit was $517,914, which was 25.7 percent of sales. Operating expenses totaled $473,383. Operating income was in the black at $88,531. Non-operating revenue was $2,761.
Jeff Andreas, manager of Fiesta City Liquors, said business has been good. “Although 2017 sales were down slightly over 2016, our gross profit was $561,914, which is 25 percent of our sales. The 25 percent threshold is considered a good place to be.”
Total sales at Fiesta City Liquors in 2017 were $2,182,907, with a total cost of sales coming in at $1,620,993.
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