Statistics Canada released July retail sales for the country, with cannabis sales increasing from June by 4.5% to C$394.8million. The month was longer by 3.3%. June was revised from C$377.5 million to C$377.9 million. The sales were up 17.8% from a year ago, down from the 23.2% June growth rate. The growth was the lowest ever, behind the previous 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 4.4% from June and up 30% from a year ago, reflecting the increase in the number of stores. Alberta, which is the second-largest province, was up 2.9% from June and up 14% from a year ago. Quebec was up 0.4% from June and down 4% from a year ago, while British Columbia was up 5.9% from June as it advanced 17% from a year ago.
Hifyre IQ had forecast July sales of C$404.8 million based upon its data. The data analytics provider has been estimating August sales to be 0.6% lower, which would be 1.9% above the actual actual level and up 15.5% from a year ago, based upon its data. Hifyre estimates non-flower sales at 29.0% in July and 28.9% in August.
The August sales data will be released on October 21st.