Legal cannabis represented $3.96B of Canada’s GDP, as of February–the last month before COVID-19 crashed into the sector. Yet the month was marked by a low increase in sales (4%).
Twitter–@itsdgc, Cannabis Retailer
One reason sales aren’t greater, according to the BCMI Cannabis Report, is that Ontario and Quebec have far too few retail stores per capita. Alberta has one store per 10,000 people.
MJ Biz Daily
- Ontario would need 1,400 more stores (beyond its present five dozen) in order to offer the same per-capita availability.
- Quebec’s 30 stores are 800 shy of one per 10,000 residents. The SQDC has finally launched online-inventory checks, allowing consumers to find out whether preferred products are in stock in store.
Alberta-based REC retail powerhouse Fire & Flower announced it would close three Alberta stores after doubling its net losses last quarter. Some wondered whether Alberta has reached its limit for REC stores. Analysts alleged Fire & Flower’s earnings report contained numerous errors.
Twitter–@drowbb, MJ Biz Daily, Twitter–@Cain, @GoBlueCDN
- Fire & Flower completed a $28M private placement attracting support from megalithic convenience-store firm Couche Tard.
Globe and Mail
Five REC retail companies have “a greater store count than share price,” Marketwatch‘s Max Cherney reported.
Twitter–@chernandburn
Rumours abound that provincial wholesalers are reducing calls and orders for new products due to a large store of unsold inventory.
Twitter–@drowbb
Critics argue cannabis return policies offer little to consumers, who cannot generally return products based on dissatisfaction.
Inside the Jar
