Statistics Canada released February retail sales for the country, with cannabis sales decreasing from the January levels, down 7.6% to C$404.7 million.  January, originally reported at C$418.3 million, was revised higher to C$437.9 million. The sales in February were up 0.6% from a year ago. This was down from the 20.3% August 2023 growth rate and below the prior lowest annual  growth rate since legalization commenced  of -0.9% in September, but it was down sharply from the December growth of 9.1%.  In 2024, total sales increased 4.0% to C$5.37 billion, and they are up 4.8% so far in 2025.

An increase in the number of stores as well as falling flower prices that bring consumers from the illicit market have been boosting sales. In Ontario, the largest province in population, sales were down 8.5% from January and up 9% from a year ago. Alberta, which is the second-largest province, was down 10.1% from January and up 2% from a year ago. Quebec was down 3.1% from January and down 18% from a year ago, while British Columbia was down 3.8% from January as it fell 14% from a year ago. Note that there were substantial revisions to the historical data this month.

The March sales data will be released on May 23rd.

Exclusive article by Alan Brochstein, CFA

Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email