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SQDC Reports $26.4M Profit

The Société québécoise du cannabis (SQDC) recently reported total sales of $190.5 million in its third quarter, a $17.5 million or 13.3% increase from the third quarter in the prior year. The company reported $26.4 million in profit, compared to $23.3 million in the prior year.

From September 12, 2021, to January 1, 2022, 34,582 kg of legal cannabis was sold totalling $180.9 million. Around 4.3 million in-store transactions were completed. Online sales reached 1,736 kg of cannabis for total dollar sales of $9.6 million. 117,554 online transactions were completed.

Over the last quarter, the SQDC opened four new stores. As of January 2022, the company had 83 stores. Quebec has the highest average sales per store, when comparing provinces across Canada, with Montreal, Quebec City, and Gatineau topping the list of cities with the highest average per month.

The province started requiring a vaccine passport to gain entry into its cannabis stores on January 18, 2022. This was phased out a month later, with plans to drop the vaccine passport requirement for all public spaces by March 14, 2022.

Tags: Cannabis retail stores (33), Quebec cannabis (10), Quebec cannabis sales (4), Société québécoise du cannabis (15), SQDC (28)