Canadian Cannabis Sales Increased 3.7% Sequentially in April

Statistics Canada released April retail sales for the country, with cannabis sales increasing from March by 3.7% to C$372.4 million. March was revised from C$358.8 to C$359.3. The sales were up 25.8% from a year ago, up from the 20.5% March growth rate:

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 4% from March and up 53% from a year ago, reflecting the increase in the number of stores. Alberta, which is the second-largest province, was up 2% from March and up 10% from a year ago. Quebec was up 18% from March and up 3% from a year ago, while British Columbia was down 6% from March as it advanced 21% from a year ago.

Hifyre IQ had forecast April sales of C$370 million based upon its data. The data analytics provider has been estimating May sales to be 1% lower, which would be 1.7% below the actual April level and up 17% from a year ago, based upon its data. Hifyre estimates non-flower sales at 29.8% in April and 29.2% in May. 

The May sales data will be released on July 22nd.

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