NB Liquor, Cannabis NB See Sales Jump During Pandemic
FREDERICTON – For the first time since cannabis legalization in October 2018, Cannabis NB has turned a profit of $500,000.
In its fourth-quarter results ending March 31, the Crown corporation says total sales were about 44 percent higher than the same period last year.
Emergency measures were in place during the last two weeks of the quarter which led to a five percent increase in sales.
Dried flower sales were up, while sales of accessories took a big jump.
Edibles and concentrates were new to the market and together they represented 16 percent of total sales.
Cannabis NB had to spend about $27,000 to respond to the virus.
Meantime, NB Liquor saw only a slight jump in sales during its fourth-quarter which ended March 29.
The provincial retailer says total sales were $93-million, which was only slightly higher than the same period last year.
During the final two weeks of the quarter, Covid-19 emergency measures meant that NB Liquor spent $600,000 responding to the virus.
However, sales during that same period jumped by 12 percent.
Overall, sales of wine, beer and spirits all decreased slightly, while sales of ciders and coolers climbed 11 percent.
Allan Dearing is a reporter with 91.9 The Bend, a Huddle content partner.