The company was hit hard by the coronavirus pandemic, having closed its retail stores in mid-March for a number of weeks, in addition to a decline in demand for its recreational products from consumers.$107.9 million Canadian dollars, representing a 13% decline from its previous quarter.Overall, the company lost CA$1.3 billion in the quarter, with roughly half of that loss attributed to a"mostly non-cash" restructuring charge.
Product sales to other dispensaries plunged 31% in the quarter as a decline in flower and pre-roll joints sales overpowered the growth in softgels, oil, and cannabis-infused products. Canopy CEO David Klein commented,"... we have taken steps to align our capacity with the current market demand ..."
I did not expect that - pot usage drops whilst people are in quarantine?