High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that on April 20, 2024 (‘4/20’), it generated CAD $1.965 million in total retail gross revenues (“Total Sales”) across all retail platforms, representing a 35% increase from the previous Saturday. The Company’s Canadian bricks-and-mortar stores reported a 30% increase, while sales across its e-commerce platforms (Grasscity.com, Smokecartel.com, Dailyhighclub.com, Dankstop.com, Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk, and BlessedCBD.de) reported an increase of 119% over the previous Saturday.
“I am excited to report continued year-over-year growth in our 4/20 sales across our retail ecosystem. Our bricks and mortar sales have been powered by a selectively curated real estate strategy, and our unique ELITE and Cabana Club offerings, which have also ensured that our store network continues to outperform industry averages. At the same time, our online customers, who have become accustomed to steep 4/20 deals on offer through our network of online stores selling consumption accessories and hemp-derived CBD, helped deliver a 119% week-over-week sales increase through our e-commerce platforms,” said Raj Grover, Founder and Chief Executive Officer of High Tide.
“While 4/20 is always an important day for the cannabis community, this year is extra special as it was the first time the day was celebrated legally in Germany and possibly the final time as a Schedule I drug in the United States. We were happy to mark this occasion once again with our annual car giveaway, which was recently completed. Although the contest was open to all Canadians, I am thrilled that this year’s winner happens to be an ELITE member from our first ever Canna Cabana store. We will continue innovating and delivering exciting offerings to our customers through our first of its kind discount club model here in Canada and beyond as new and exciting markets begin to open up,” added Mr. Grover.
About High Tide
High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world’s most powerful plant and is the second-largest cannabis retailer in North America by store count2. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including Bricks & Mortar Retail: Canna Cabana™ is the largest non-franchised cannabis retail chain in Canada, with 168 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
