B.C.’s retail sales cycle looks to have peaked during the fourth quarter as January sales continued to moderate.
Seasonally adjusted sales fell 1% to $7.11 billion, lagging behind a mild 0.3% national gain, due mostly to lower vehicle sales and lower post-holiday sales at various retailers.
Nonetheless, retail demand remains high, with year-over-year unadjusted sales growth of 7.4%, compared with a 5.6% national increase. B.C. has led retail sales growth in recent years owing to strong employment gains, population inflows and wage raises. The growth is particularly impressive given inroads by online retailers.
Edmonton city councillors will begin looking at rules around the sales and consumption of legal cannabis starting with zoning bylaws this week.
TorQuest Partners ("TorQuest") today announced the merger of Amenity Holdings Inc. ("Amenity"), the second platform investment of TorQuest Partners Fund IV, and Rubicon Pharmacies Canada Inc. ("Rubicon"), two complementary operators of retail pharmacies across Western Canada. Going forward, the combined company will do business as Rubicon Pharmacies. Terms of the transaction were not disclosed.