Statistics Canada released June retail sales for the country, with cannabis sales increasing from May by 0.7% to C$377.5 million, despite one less day. May was revised from C$375.8 million to C$373.6 million. The sales were up 23% from a year ago, up from the 19.5% May growth rate and above the lowest annual growth rate of 19.2% in December:
An increase in the number of stores as well as falling flower prices that bring consumers from the illicit market have been boosting sales. In Ontario, the largest province in population, sales were up 3.3% from May and up 41% from a year ago, reflecting the increase in the number of stores. Alberta, which is the second-largest province, was flat from May and up 16% from a year ago. Quebec was down 1.4% from May and up 1% from a year ago, while British Columbia was down 1.7% from May as it advanced 22% from a year ago.
Hifyre IQ had forecast June sales of C$374.3 million based upon its data. The data analytics provider has been estimating July sales to be 7.2% higher, which would be 6.3% above the actual actual level and up 19.8% from a year ago, based upon its data. Hifyre estimates non-flower sales at 29.3% in June and 29.0% in July.
The July sales data will be released on September 23rd.
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