New Brunswickers spent more than $8 million on cannabis in just four months – New Brunswick

Cannabis NB is touting revenues of more than $8 million dollars in its first quarter.

Those unaudited results show in-store revenue of $8.2 million, online sales of $400,000, oils and capsule sales represented nine per cent of sales at $800,000 and accessories rang in at at $300,000.

Cannabis NB CEO reports steady business as retail marijuana outlets open

“Overall, we are pleased with how the stores and the experience have been received by customers as we enter a new legalized channel of retail,” said Cannabis NB president and CEO Brian Harriman.

“The feedback we have received from customers about the education and the experience at Cannabis NB has been largely positive, and our team has been focused on delivering an informed and positive customer experience.”

WATCH: Supply issues continue to plague New Brunswick cannabis industry

Cannabis NB is the province’s only legal retailer with a focus on public education and reducing the illicit market.

The national supply shortage has had an impact on sales and the variety of products the crown corporation can offer.

Cannabis NB laying off staff

“We continue to work closely with our current partners and engage new licensed producers to expand our portfolio and product volume, but supply is slowly moving in a positive direction,” said Harriman.

Cannabis NB has 20 stores in 15 communities and its results are reported on a retail reporting cycle, which is typically a 52-week year.

© 2019 Global News, a division of Corus Entertainment Inc.

Source link

Content Source

Global News
Global News offers Canadians from coast to coast a host of news and information – from breaking news in their town or city to deep engaging content that puts complex world issues in perspective. Our 11 local sites provide up-to-the-minute community-based news, weather and information, while our new umbrella national site features stories, analysis and deep, engaging content about issues in Canada and abroad.

Leave a Reply