LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

New Storres Opening in the Next 2 Years.

[Goldbuggy1]

In the Q3 Report LIQ stated that in 2015 they opened 9 new stores. I don't see how they did this unless they did not take into account the stores they also closed in 2015. But more importantly they go on to say that they are committed to opening 10 new stores in the next 2 years. They go on to say it will be 7 stores in Canada and 3 stores in the USA, but I think with the new markets opening up in the USA this has changed some. By this July they would already opened 4 new stores in the USA which already exceeds there 2 year limit there of only 3. Using as a guild on the 2 new Large Format Stores they plan to open in Connecticut and Massachusetts this summer, there cost for both stores was estimated at $5M US, or $7M CAD, so $3.5M CAD per new store. So for 10 large stores it would cost them about $35M. That is not so much. It just seems to me that with new markets opening up, and low interest charges, they could be aiming higher than this. However, if the store sized they are talking about is New Jersey Sizes, then these 10 stores would increase total sale by 50%. Which is not too shabby either within 2 years.