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Cannabis NB is adding two new stores to its network, a pop-up store in Saint John and a new corporate store in Woodstock.
The store in Saint John will be part of the Area 506 Container Village and opened on June 8, with the Woodstock Cannabis NB store planned to open soon after on June 13 at 418 Connell Street.
“We are excited to be adding these new stores to our network in Woodstock and Saint John,” said Lori Stickles, CEO of Cannabis NB. “Like our other Cannabis NB stores across the province, they will provide the same safe, regulated products and customers will have access to our knowledgeable team members to guide them through their purchases.”
The “pop-up” location in Saint John is part of more than 60 containers making up the AREA 506 Vendor Village on the city’s waterfront, featuring a collection of retail shops like the new cannabis store, a performance space, a waterfront Container Lounge, food trucks, public art and other pop-up activities.
This new cannabis location will serve customers in uptown Saint John, while also catering to cruise ship passengers and tourists who visit the area.
The new corporate Cannabis NB store in Woodstock will be a full Cannabis NB experience, offering all the products found in any of its other locations. Cannabis NB is also in the process of finding locations for additional Cannabis NB locations, as well as new private retail stores, following the new legislation that passed earlier this year.
In their most recent quarterly report for the 2021-2022 fiscal year, total sales were $21 million, with $4.2 of that in revenue for the province. This represented a 22% increase in profit compared to the same quarter from the previous fiscal year.
Online sales decreased by about 1% in the most recent quarter, likely due to more in-store purchases with the lifting of covid-related restrictions. Concentrate sales increased by 25.9 percent, up by $1.1 million from last year.
Edibles sales increased 47.1%, up by $0.7 million, dried flower sales decreased 3.3%, down by $0.4 million, sales of extracts decreased 18.9%, down by $0.2 million, topicals sales increased 19.1%, up by $0.02 million, and sales of seeds represented just 0.2% of sales for the quarter at $0.05 million.
Accessories sales increased 5.1%, up by $0.03 million.
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