Wednesday, 28 Feb 2024

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

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.

“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.”

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.

“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.

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