Interview, Part 1: Florida’s ABC Fine Wine & Spirits On The Pace Of Growth In 2023

Founded shortly after the repeal of Prohibition, Orlando-based ABC Fine Wine & Spirits is the largest liquor store chain in the Sunshine State. With stores stretching from the Panhandle to Miami, ABC currently boasts 126 locations, with more stores on the way. Revenues are estimated at well over a half-billion dollars. Shanken News Daily contributing editor Terri Allan spoke recently with the chain’s Dave Larue, executive vice president, sales, and Sean Kelly, executive vice president, operations and marketing, for an update on company sales and category trends.

SND: How would you characterize your sales trends so far in 2023?

Larue: Overall, business is up slightly, about 1% to 2%, so far for the year. While things are softening a little bit most recently due to trading down within the economy, we feel we’re in a good spot, considering we’re working off some high comps from recent years.

SND: With the important fourth quarter underway, what are your projections for the year end?

Kelly: We’re expecting another big year, following two really great Novembers and Decembers in a row. We’re expecting the same this year in part due to new store openings, store remodelings, and some of the merchandising tactics we’ve put in place. For example, we’ve been working on sharpening our sets and how we display products, as well as enhancing our signage. We’re also in a good position with store staffing.

Larue: Additionally, we continue to benefit from the strength of the Florida economy. Approximately 1,000 people continue to move here every day. We’re hoping the snowbirds—who are loyal to us in a competitive market—will come in strong this year.

SND: What types of trends are you seeing in spirits this year?

Larue: Tequila and RTDs continue to drive a lot of business. While our spirits business has grown over the last few years, the pie is only so big and RTDs are gaining share. They’ve picked up about 200 basis points from spirits, while also stealing from wine and beer. Cordials, driven by Aperol and the spritz craze, are also picking up steam. While Tequila has leveled out, it’s still very strong. Whisk(e)y has also leveled off. American whiskey is up, Canadian and Japanese whiskies are struggling, and Irish whiskey is flat. Scotch is down, but flavored and cream whiskies are performing well.

SND: Looking ahead to next year, where do you see the most opportunity for spirits?

Larue: As we see people beginning to trade down, we remain focused on iconic $100-plus brands, such as Clase Azul, Don Julio 1942, and Johnnie Walker Blue. To promote these brands, we rely on strong merchandising support, including luxury cabinet collections, to make it easy for guests to purchase for gifts or something nice for themselves.

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