Statistics Canada released May retail sales for the country, with cannabis sales increasing from April by 0.7% to C$375.8 million. April was revised from C$372.4 million to C$373.4 million. The sales were up 20.1% from a year ago, down from the 26.1% April growth rate and near 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 0.5% from April and up 37% from a year ago, reflecting the increase in the number of stores. Alberta, which is the second-largest province, was up 1% from April and up 9% from a year ago. Quebec was up 0.7% from April and up 2% from a year ago, while British Columbia was up 4% from April as it advanced 29% from a year ago.
Hifyre IQ had forecast May sales of C$367.4 million based upon its data. The data analytics provider has been estimating June sales to be 0.8% higher, which would be 1.5% below the actual May level and up 20.6% from a year ago, based upon its data. Hifyre estimates non-flower sales at 29.0% in May and 29.3% in June.
The June sales data will be released on August 19th.
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