Flora Reports $600,000 in Black Friday and Cyber Monday Sales Across JustCBD and Vessel Brands

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) reported sales of $600,000 during the Black Friday and Cyber Monday weekend through its JustCBD and Vessel brands. The company achieved year-over-year growth in both revenue and customer acquisition, attributing the success to strategic promotions, targeted marketing, and an efficient e-commerce platform. CEO Clifford Starke emphasized the company's brand strength and customer trust, expressing confidence in maintaining momentum through the holiday season.

Positive

• Achieved $600,000 in sales during Black Friday/Cyber Monday weekend
• Year-over-year growth in revenue and customer acquisition

Negative

• None.

Insights

Financial Analyst

The $600,000 in Black Friday/Cyber Monday sales represents a meaningful revenue event for Flora Growth, particularly given its small-cap status with a market cap of about $21.3M. While year-over-year growth was mentioned, the absence of specific comparative figures limits the ability to gauge the true performance improvement. For a company of this size in the CBD and cannabis accessories market, capturing substantial holiday sales is important for Q4 performance. However, this single weekend's performance, while positive, should be viewed in the context of the company's broader financial picture and annual revenue targets. The e-commerce success demonstrates effective digital marketing and operational execution, but investors should monitor whether this sales momentum can be sustained throughout the holiday season and beyond.

Market Research Analyst

The strong performance across JustCBD and Vessel brands during the key holiday shopping period indicates effective positioning in the competitive CBD and cannabis accessories market. The successful e-commerce execution suggests Flora has established solid digital infrastructure and consumer engagement strategies. However, the CBD market remains highly competitive with numerous players vying for market share. The sales achievement, while promising, needs to be evaluated against customer acquisition costs and promotion-driven margin impacts. The mention of customer loyalty growth is positive but requires sustained evidence beyond promotional periods to confirm true brand strength. This performance could signal improving market penetration but requires consistent execution in non-promotional periods to validate sustainable growth.

Fort Lauderdale, Florida--(Newsfile Corp. - December 5, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is excited to announce sales of $600,000 over the Black Friday and Cyber Monday weekend. This significant milestone highlights the growing demand for Flora's products under the JustCBD and Vessel brands.

Driven by strategic promotions, targeted marketing, and a seamless e-commerce experience, Flora capitalized on the holiday shopping surge, achieving year-over-year sales growth in both revenue and customer acquisition.

"Our performance this Black Friday and Cyber Monday is a testament to the strength of our brands and the trust our customers place in the quality of our products," said Clifford Starke, Chief Executive Officer.

"We are witnessing not just growth in sales but also in the loyalty of our customers," added Mr. Starke. "Our ability to deliver a seamless online shopping experience, paired with quality products, reflects our dedication to enhancing lives through our innovative offerings."

"As we move into the holiday season, we are confident in our ability to build on this momentum," said Mr. Starke. "Our team is committed to driving value for our customers. This is only the beginning of what Flora can achieve."

About Flora Growth Corp.

Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.

https://justcbdstore.com/

https://www.vesselbrand.com/

https://justcbdstore.uk/

https://www.phatebo.de/home-en

https://www.australianvaporizers.com.au/

Investor Relations:

Investor Relations ir@floragrowth.com

Clifford Starke Clifford.Starke@floragrowth.com

Media:

media@floragrowth.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232550

FAQ

How much revenue did Flora Growth (FLGC) generate during Black Friday and Cyber Monday 2024?

Flora Growth (FLGC) generated $600,000 in sales during the Black Friday and Cyber Monday weekend in 2024 through its JustCBD and Vessel brands.

Which brands contributed to Flora Growth's (FLGC) Black Friday sales in 2024?

JustCBD and Vessel brands contributed to Flora Growth's Black Friday and Cyber Monday sales in 2024.

Did Flora Growth (FLGC) show year-over-year growth during Black Friday 2024?

Yes, Flora Growth reported year-over-year growth in both revenue and customer acquisition during the Black Friday and Cyber Monday weekend in 2024.