Statistics Canada released April retail sales for the state, with cannabis selling increasing from the March ranges, up 5.3 % to C$ 428.6 million. On a per- time foundation, revenue sales rose 8.8 %. March was revised lower to C$ 406.8 million. The profits were up only 4.4 % from a year ago. This was lower than the 19.8 % growth rate for August and higher than the 0.1 % annual growth rate for March since legislation was first introduced. In 2023, total sales increased 12.5 % to C$ 5.09 billion, and in 2024 they have increased just 3.0 % from a year ago.
Sales have increased as a result of a rise in the number of stores and falling rose prices, which have helped to draw in customers from the illegal market. In Ontario, the largest province in population, sales were up 3.9 % from March and down 5 % from a year ago. Alberta, which is the second- largest province, was down 0.6 % from March and up 5 % from a year ago. Quebec was up 14.5 % from March and up 26 % from a year ago, while British Columbia was up 8.1 % from March as it fell 2 % from a year ago.
Hifyre IQ had forecast April selling at C$ 445.9 million based upon its information, so this was far above the measure. The data analytics provider has been estimating May sales to be 4.5 % higher, which would be 8.7 % above the actual actual March level and up 12.1 % from a year ago, based upon its data. Hifyre projects sales to be 30.7 % in April and 30.0 % in May when compared to sales made outside of flower and pre-rolls.
On July 19th, the May selling information will be released.
