Crippling service disruptions at two of Canada’s biggest government-run cannabis wholesalers in August do not appear to have meaningfully impacted the broader market, interim data for the month suggests.
Nationwide cannabis retail sales in August rose an estimated 16% year-over-year, according to data from analytics firm Hifyre.
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The data was cited in a research note by Toronto-based BMO Capital Markets analyst Tamy Chen, who wrote that August’s estimated sales were in line with BMO’s outlook.
“It does not appear that industry sales in August were meaningfully impacted by the cyberattack on Ontario’s cannabis distributor or the labor strike at B.C.’s liquor board distribution center,” according to Chen’s note.
However, some industry insiders say the evident top-line growth doesn’t paint a full picture of potential sales had there been no disruptions.
Nor does it account for consumers who returned – some permanently – to the illicit market or stores
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