NEW YORK (TheStreet) -- The holiday season had a healthy start, despite a weak economy. Specifically, liquor stores will see profits boost this season. "A lot of people don't realize that the busiest wine holiday of the year is actually Thanksgiving," said Bruce Long of Hy-Vee Wine and Spirits. "Also, October, November and December are probably the largest three months of the year for anybody in the wine and spirits industry."
The Department of Alcohol Beverage Control (DABC) reported 130% hike in alcohol sales on the eve of Thanksgiving. For the first half of the year, whisky shipments from Scotland soared 19%, after declining in the same period prior year, according to data from the Scotch Whisky Association. Export values rose 22% to $2.9 billion for the first half, outperforming the 10% growth seen in 2010.
DABC expects significant liquor sales during the holiday season. On typical weekdays, statewide liquor and wine sales averaged about $600,000 per day, while Thanksgiving eve sales boomed to more than $2 million, topping $1.6 million recorded previous year. A research report by J.P Morgan shows that sale of wine and constellation wine during October jumped 4.3% and 2%, respectively from the previous month.
A few alcoholic and non-alcoholic stocks are likely to turn favorite during the holiday season, according to analysts polled by Bloomberg.
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