We'll drink to that: the LCBO has reached an agreement with its union that will avert a strike.

The Ontario Public Service Employees Union and the retailer worked past an earlier deadline of 12:01am on Wednesday to come to the resolution.

The terms are not yet known, but the 7,200 affected employees were concerned about the rights of casual workers. They don't receive vacation, sick time or benefits, and can be called in to work as little as two hours at a time.

As well, there was little opportunity for full time employment.

But the LCBO has countered its business is cyclical and says it doesn't need the extra people all year round. It argues making them part time only makes economic sense and is a better use of taxpayers' dollars. Just under 60 per cent of current employees are casual workers.

There has never been a strike in the history of the company.

The settlement couldn't have come at a better time. The summer sales period is typically a busy one for the retailer. On Tuesday, they saw a record-breaking day in sales as worried shoppers stocked up.

It was a whopping $17 million day, about $10 million more than is usually sold per day in June.

In fact, some shoppers reported seeing empty shelves, and some stores may be temporarily out of stock of popular items as the week continues.