08:22:01 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 473,796,641
Close 2023-10-20 C$ 0.61
Market Cap C$ 289,015,951
Recent Sedar Documents

FP/CP say Canopy, rivals hear pot retailers struggling

2023-10-23 07:53 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Monday, Oct. 23, edition that since Canada legalized recreational cannabis on Oct. 17, 2018, retailers have had a tough slog. A Canadian Press dispatch to the Post reports that Retail Cannabis Council of B.C. director Jaclynn Pehota says: "There are people who have finally found their strides in the legal market despite the fact that there are myriad restrictions and challenges. There's another category of retailers, and I think that they might be in the majority in much of the country, where they are simply not sustainable in terms of the revenue that they're bringing in." In Alberta, for example, she says the median income for a cannabis shop is less than $85,000 a month. "If you have an overhead of $10,000 in rent and $25,000 in staff costs and then licensing costs and then your products, that means there is literally nothing left over at the end of the month." Supply has been an issue for some stores. Cannabis producers have introduced and discontinued products at a dizzying speed, trying to cater to shifting consumer preferences and knocking down prices to compete with rivals. Sometimes producers can't keep up with demand, other times buyers are barely interested.

© 2024 Canjex Publishing Ltd. All rights reserved.