Statistics Canada released September retail sales for the country this morning, with cannabis sales growth slowing sequentially off of a revised higher August level but accelerating annual growth to 108.5%. Sales of C$256.3 million grew 1.8% from August.
Hifyre IQ had forecast sales of $261 million based upon its data. The data analytics provider had estimated October growth to be 3% above its September forecast.
All of the growth came from Ontario, which accounted for a $3 million sequential gain, and British Columbia. Value-priced flower and the expansion of next-generation products, like vapes, is helping along with store expansion.
Hifyre IQ estimated that product categories have been stable, with pre-rolls decreasing slightly.
The October sales will be released on December 18th.
