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Retail Sales Down in November, Cannabis & Ecommerce Higher

Stockhouse Editorial
0 Comments| January 23, 2019

Retail sales fell 0.9% to $50.4 billion in November from the month before, according to Statistics Canada.

It reported that overall sales were down for six of 11 subsectors, which represents 75% of all retail trade. In volume terms, retail sales fell 0.4%.

While sales dipped at gasoline stations and motor vehicle and parts dealers, excluding those two subsectors, sales increased 0.2%.

Sales at cannabis stores increased 26.2% in November to $54.4 million and general merchandise sales also increased for the third time in four months, rising 1.7%. Food and beverage sales declined within a 1.2% sales dip at supermarkets and grocery stores.

Retail Ecommerce sales reached $2.3 billion in November, accounting for 4.2% of total retail trade. On a year-over-year basis, retail e-commerce increased 20.1%.

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