Flat sales.
BUSINESSCanadian cannabis sales flat in September at $355M
Statistics Canada significantly lowered its sales data for August as well
Thomm Bonno
Canadian cannabis sales flat in September at $355M September cannabis sales stalled in every Canadian jurisdiction except Ontario.
In its monthly release of retail trade data on Friday, the agency said September retail cannabis sales were $354.7 million.
That number is just a hair above $354.0 in August, a figure which StatsCan revised significantly from the $356.9 million reported a month ago.
That update alters the month-over-month outlook for B.C. in particular, where the August sales figure was revised to $49.7 million from $52.3 million.
Ontario was the only region with any notable increase in September, with sales climbing nearly 2 per cent to $141.6 million from $139.0 million.
Sales were either flat or fell slightly in every other region.
While StatsCan says overall retail contracted by 0.6 per cent to $56.6 billion in September, led by weak sales in the motor vehicle sector. Core retail fell by 0.3 per cent.
But the agency’s outlook improves for October.
“Given the rapidly evolving economic situation, Statistics Canada is providing an advance estimate of retail sales, which suggests that sales increased 1.0 per cent in October.”
“Owing to its early nature, this figure will be revised. This unofficial estimate was calculated based on responses received from 50.3 per cent of companies surveyed. The average final response rate for the survey over the previous 12 months has been 89.5 per cent.”
