Rocky Mountain Liquor Reports Mixed Financial Results for 2024

Rocky Mountain Liquor Inc. (TSX-V:RUM) has disclosed its financial results for the year ended December 31, 2024. The company experienced a decrease in annual sales, down to $39.7 million from $41.7 million in 2023. Gross margins maintained stability at 23%, but net comprehensive income saw a drop, recording a loss of $2.1 million compared to a profit in 2023.

Despite challenges like increased competition and infrastructure issues affecting store access, the fourth quarter saw improved margins, supported by strategic inventory management and cost control measures. The successful implementation of a modernized point-of-sale (POS) system across all locations marked a significant milestone.

The year was impacted by a $1.96 million goodwill impairment charge, influencing the net income figures. Going forward, Rocky Mountain remains focused on enhancing value through pricing strategies and product offerings, alongside navigating the evolving Alberta retail landscape.