Cannabis Sales Slide In New Brunswick
SAINT JOHN — Liquor sales in New Brunswick held steady in the second quarter while cannabis sales were down.
NB Liquor and Cannabis NB recently released their unaudited financial statements for the last quarter.
The province’s liquor corporation reported $148 million in sales, up 0.2 percent compared to the same period last year. Meanwhile, net income was down 3.2 percent year over year to $57.4 million.
Sales of wine, spirits, coolers and cider increased during the quarter by a combined $1.4 million, while beer sales were down by $900,000.
Beer sales still accounted for 43.2 percent of all reported revenue, followed by spirits (21.2 percent), wine (20 percent), coolers and ciders (15.5 percent) and non-liquor (0.1 percent)
NB Liquor said a total of 2.1 million transactions were recorded during the second quarter, with customers spending an average of $40.82.
Meanwhile, Cannabis NB reported a drop in sales during the second quarter of this year.
Total product sales were down 3.3 percent to $21.7 million, according to the unaudited financial statements.
Net income, however, rose two percent compared to the same quarter last year to $4.8 million.
Sales of edibles, topicals and concentrates grew a combined $1.5 million last quarter, helping to offset a $2.3 million drop in dried flower, extract, and accessory sales.
Dried flower sales accounted for 53.4 percent of all reported revenue, followed by concentrates (29.5 percent), edibles (9.2 percent), extracts (3.4 percent), accessories (3.3 percent), topicals (1.2 percent) and seeds (0.06 percent).
Customers spent an average of $56.55 per visit, with a total of 143,000 transactions recorded during the second quarter.
Brad Perry is the Regional News Director for New Brunswick at Acadia Broadcasting, Huddle content partners.