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Research: Alcanna Update

CLIQ news out today looks solid. Sales accelerated a bit in Q320 over Q2. I think it is only going to improve with the trajectory of cases we are seeing in Western Canada and the restrictions just put in place in Edmonton.

Oct Update

  • selling 8 stores for $21mm – $2.625mm
  • these stores contributed $1.9mm of profit in 2019
  • lower volume stores – though they were profitable ones
  • SSS for liquor accelerated to 15% yoy – was 13.4% yoy in Q220
  • Cannabis SSS increased 33% which is decent as well
  • said available capital resources is $70mm so that is down from August but that probably means increased inventory which could be a good thing
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