Total Wine Primed For Push Into Tennessee MarketFebruary 25, 2016
Total Wine & More is eyeing a major expansion into the Tennessee market. The Tennessee legislature lifted the state’s cap on the number of liquor stores allowed per retailer in 2014 as part of a bill to sanction wine in grocery stores (Tennessee will start allowing grocery wine sales July 1). A bill this year to reinstate the former two-store cap has now stalled, paving the way for chain activity in the market.
According to The Tennessean, Total Wine has already signed leases in West Nashville and Cool Springs, with stores expected to open this year, and envisions an eventual eight to 10 locations in the Volunteer State, focusing on Nashville, Chattanooga, Knoxville and Memphis. Total Wine added that its average ring nationwide is now more than $60, with wine accounting for 60% of sales. Across its 130 stores in 18 states, Total Wine’s revenue increased 14% to $2 billion in 2015, the report noted.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.