{"id":68730,"date":"2020-10-21T09:50:12","date_gmt":"2020-10-21T13:50:12","guid":{"rendered":"https:\/\/brocku.ca\/brock-news\/?p=68730"},"modified":"2024-09-01T09:55:03","modified_gmt":"2024-09-01T13:55:03","slug":"armstrong-ontarios-cannabis-agency-earns-18-6-million-beating-albertas-but-lagging-quebecs","status":"publish","type":"post","link":"https:\/\/brocku.ca\/brock-news\/2020\/10\/armstrong-ontarios-cannabis-agency-earns-18-6-million-beating-albertas-but-lagging-quebecs\/","title":{"rendered":"ARMSTRONG: Ontario\u2019s cannabis agency earns $18.6 million, beating Alberta\u2019s but lagging Qu\u00e9bec\u2019s"},"content":{"rendered":"<p>Michael Armstrong, Associate Professor of Operations Research in Brock\u2019s Goodman School of Business, wrote a piece recently published in <em><a href=\"https:\/\/theconversation.com\/ontarios-cannabis-agency-earns-18-6-million-beating-albertas-but-lagging-quebecs-148151?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20October%2021%202020&amp;utm_content=Latest%20from%20The%20Conversation%20for%20October%2021%202020+CID_89441b0cf92837fb1c4ea170c647b591&amp;utm_source=campaign_monitor_ca&amp;utm_term=Ontarios%20cannabis%20agency%20earns%20186%20million%20beating%20Albertas%20but%20lagging%20Qubecs\" target=\"_blank\" rel=\"noopener noreferrer\">The Conversation<\/a><\/em> where he compared and contrasted the sale of legal cannabis in Ontario and Quebec.<\/p>\n<p>He writes:<\/p>\n<p><em>\u201cAccording to recently released\u00a0financial statements, the\u00a0Ontario Cannabis Store\u00a0(OCS) earned $18.6 million during its 2019-20 financial year. That\u2019s a welcome reversal from the previous year\u2019s $42-million loss. But while OCS did better financially than its Alberta counterpart, it still lagged behind Qu\u00e9bec\u2019s\u00a0Soci\u00e9t\u00e9 qu\u00e9b\u00e9coise du cannabis\u00a0(SQDC).\u00a0<\/em><\/p>\n<p><em>And even though Canada marked the second anniversary of legalization this past weekend, both Ontario and Qu\u00e9bec still lack enough stores to make legal products widely accessible, unlike in Alberta.<\/em><\/p>\n<p><em>Three main improvements<\/em><\/p>\n<p><em>The first reason for the turnaround was fewer write-offs. Between April 2018 and March 2019, OCS wrote off $12.6 million for retail store preparations it didn\u2019t use. That was because the Ontario government\u00a0reassigned storefront selling to the private sector. During 2019-20, by contrast, the OCS wrote down \u201conly\u201d $2.1 million of inventory, perhaps due to quality concerns.<\/em><\/p>\n<p><em>The second reason was a longer selling period. Cannabis was legal throughout the recent year, versus only half of the previous one. So although OCS\u2019s monthly retail sales dropped 35 per cent, its annual total grew from $57 million to $74 million.<\/em><\/p>\n<p><em>The third and biggest reason was the opening of licensed stores. OCS sold $224 million of products wholesale to those stores, despite there being just 53 of them.\u201d<\/em><\/p>\n<p>Continue reading the full article <a href=\"https:\/\/theconversation.com\/ontarios-cannabis-agency-earns-18-6-million-beating-albertas-but-lagging-quebecs-148151?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20October%2021%202020&amp;utm_content=Latest%20from%20The%20Conversation%20for%20October%2021%202020+CID_89441b0cf92837fb1c4ea170c647b591&amp;utm_source=campaign_monitor_ca&amp;utm_term=Ontarios%20cannabis%20agency%20earns%20186%20million%20beating%20Albertas%20but%20lagging%20Qubecs\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Armstrong, Associate Professor of Operations Research in Brock\u2019s Goodman School of Business, wrote a piece recently published in The Conversation where he compared and contrasted the sale of legal cannabis in Ontario and Quebec.<\/p>\n","protected":false},"author":1,"featured_media":45641,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[54,39,6],"tags":[2852,594,4395,5512],"_links":{"self":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/68730"}],"collection":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/comments?post=68730"}],"version-history":[{"count":1,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/68730\/revisions"}],"predecessor-version":[{"id":68731,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/68730\/revisions\/68731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media\/45641"}],"wp:attachment":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media?parent=68730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/categories?post=68730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/tags?post=68730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}