quote:
Originally posted by Stevey:
I only saw the consolidated P&L view and do not know results for Vintages only but according to their latest published Annual Report, results are improving year-to-year so I'm not sure where the "shitty records" are. I don't know who Tom Wilson is either but LCBO is not a normal business as the only game in town, so any reductions in sales volume of higher end products can be attributed to the economy and not to any loss in market share to which management may be responsible. And if Tom is concerned about his financials today then holding inventory for a few years isn't going to help his financials now and if you say he's been getting "shitty" results already, then he could be fired long before the '05's are back on the shelves in a few years, not helping him at all.

In other words, I just don't see how holding onto any '05 clarets can be of any help. It's a risk that even if prices do go up in a few years, how much higher into the stratosphere can LCBO mark up their bordeaux? Are we going to see $500 for the '05 Leoville Barton in a few years? Is there a price ceiling that above which the public will simply refused to pay? I don't know but I know, for me, the ceiling has already been reached.

But if the agent has inside information, then I guess he knows better.


I have to agree with Darcy. If the LCBO lowers the price significantly across the board for their 2005 bordeaux's they have to write down the whole value of them. That's a big paper loss. As you so rightly said, as the LCBO is the only game in town, they don't have to mark-to-market their assets/inventory against any other companies (they are the market...)so they can afford to sit on those '05's as they "appreciate in value" or sit on them as they "ride through this economic downturn".

I think we also overstate the importance of this to the LCBO. Fine wine is important to us, but to the LCCBO, on the balance sheet of a few BILLION, the inventory of 2005 bordeaux is propbably less than $10-15 million or so.
quote:
Originally posted by Rob_Sutherland:
quote:
Originally posted by Stevey:
I only saw the consolidated P&L view and do not know results for Vintages only but according to their latest published Annual Report, results are improving year-to-year so I'm not sure where the "shitty records" are. I don't know who Tom Wilson is either but LCBO is not a normal business as the only game in town, so any reductions in sales volume of higher end products can be attributed to the economy and not to any loss in market share to which management may be responsible. And if Tom is concerned about his financials today then holding inventory for a few years isn't going to help his financials now and if you say he's been getting "shitty" results already, then he could be fired long before the '05's are back on the shelves in a few years, not helping him at all.

In other words, I just don't see how holding onto any '05 clarets can be of any help. It's a risk that even if prices do go up in a few years, how much higher into the stratosphere can LCBO mark up their bordeaux? Are we going to see $500 for the '05 Leoville Barton in a few years? Is there a price ceiling that above which the public will simply refused to pay? I don't know but I know, for me, the ceiling has already been reached.

But if the agent has inside information, then I guess he knows better.


I have to agree with Darcy. If the LCBO lowers the price significantly across the board for their 2005 bordeaux's they have to write down the whole value of them. That's a big paper loss. As you so rightly said, as the LCBO is the only game in town, they don't have to mark-to-market their assets/inventory against any other companies (they are the market...)so they can afford to sit on those '05's as they "appreciate in value" or sit on them as they "ride through this economic downturn".

I think we also overstate the importance of this to the LCBO. Fine wine is important to us, but to the LCCBO, on the balance sheet of a few BILLION, the inventory of 2005 bordeaux is propbably less than $10-15 million or so.


I think you are right....it is easy to miss the fact that VINTAGES sales account for such a small protion of the overall P&L of the LCBO. Having said that, I would love to see them sell the 05's off below futures prices.......I can see it already. All of us line up with our reciepts to get our money back and buy it at the cheaper price.
This latest online exclusive has to be the biggest rip-off in LCBO history.

$200 for a mag of Fontalloro! Even at the extremely overpriced Ontario retail of $70/750ml that's a HUGE premium for a mag... I can still buy this in the states for $42/bottle or $88/mag! The Galatrona is the same... $375 for a mag when I believe the '04 sold for about $100/bottle last year. Are these mag's made out of gold???? Is the wine better in a mag????
I totally hear you.....is it me or is the selection getting increasingly worse with every online release.....I wonder who the wizards are sourcing and selecting the LCBO's wines......
Gee -- a sales only at ONE store ... hmmm ... Rideau & King Edward is a nice store -- but --no transfers ..?

first wine I look at ...HITCHING POST ST. RITA'S EARTH PINOT NOIR 2005 ...need some more Pinot & Like Lafond & Sanford from area .. gee ...at WS rating of 76 points .... you better drop that price just a bot more ..:-(

Greg
quote:
Originally posted by Wayne1979:
It makes me sad seeing all the cheap vintage port on winebid.com that we can't order here in Ontario =S


I totally hear you....I am a 1977 baby and have had to source all of my birthyear port form the states....
Nothing really caught my eye on the whole list. And 20% off really isn't a sale. It probably brings some of the wines close to US retail prices, at best.

Greg H, the LCBO never transfers wine unless it's at the full retail price. When you have no real competition, you don't have to make the effort.
quote:
Originally posted by Dave Canada:
I totally hear you....I am a 1977 baby and have had to source all of my birthyear port form the states....


Such a pain. I need to find someone in the states that comes to Toronto now and then.

How did you go about getting your ports ?
quote:
Originally posted by Darcy Kelley:
Nothing really caught my eye on the whole list. And 20% off really isn't a sale. It probably brings some of the wines close to US retail prices, at best.

Greg H, the LCBO never transfers wine unless it's at the full retail price. When you have no real competition, you don't have to make the effort.

IMO the wines which are worth buying are:

RIESLING SPÄTLESE 2007 Wehlener Sonnenuhr (Wegeler) $27.60
BAROLO LA VILLA 2004 (Seghesio) $52.65
BAROLO GINESTRA 2004 (Paolo Conterno) $51.05

I think both the Seghesio and Wegeler are a little below US pricing. Paolo Conterno isn't imported to the US.
quote:
Originally posted by Dave Canada:
quote:
Originally posted by Wayne1979:
It makes me sad seeing all the cheap vintage port on winebid.com that we can't order here in Ontario =S


I totally hear you....I am a 1977 baby and have had to source all of my birthyear port form the states....


Last year i bought a 1977 Smith Woodhouse 1.5L at LCBO @ $391.70. Don't know whether it worth or not. Roll Eyes
quote:
Last year i bought a 1977 Smith Woodhouse 1.5L at LCBO @ $391.70. Don't know whether it worth or not.



I would say no, except of course that we in Ontario have no options unless we can buy in the US or elsewhere while travelling. Vintage ports, like bordeaux, is massively over-priced in Ontario, like twice as much as the average price in the US. That said, sometimes the prices are closer and I have bought many bottles here.

Welcome, BTW! Smile
LCBO leaves us no choice if we don't travel. Like Bordeaux Future, did any one ever see the price on shelves is lower then the future release? 2007?

Maybe we should immigrate to the states. Razz
I was just in the Queens Quay store and couldn't believe how packed the shelves were!!

I can just imagine how full the warehouse must be. They must be moving as much inventory to the stores as possible to make room.

Nice to see you can pick up decent bottles on sale as well (Roncaglie 2004 Barbaresco).

Cheers

MP
The 2007 Fontanafredda Barbera is back on the LCBO shelves. This wine supposedly sold out in December, but it appears as though the LCBO only sold out of the sale price bottles since it's back at regular price.
It's a Vintages Essentials product now. I don't think it's worth $15.95 a bottle, personally. $12.95, that's a different story.
For anyone interested, someone returned a couple bottles each of 2001 Yalumba The Signature and 2004 Haan Shiraz Prestige to the St. Lawrence Market LCBO. There is also a full case of 2001 Clarendon Hills Grenache which is an ISD for this Saturday's release.
2006 Henri & Gilles Remoriquet Nuits St. Georges

I bought this wine for $30 in the August 29 bin-end sale - the cheapest NSG I have ever purchased. It's also surprisingly good - on par with many others at twice the price.

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