High Tide Opens Second Canna Cabana in Scarborough, Ontario
High Tide Inc. (Nasdaq: HITI) has opened its second Canna Cabana store in Scarborough, Ontario, marking the company's 188th location in Canada and 74th in Ontario. The new store, located at 2432 Eglinton Avenue East, is situated in a busy shopping complex near the Kennedy GO Train and subway station. The location will serve approximately 20,000 residents within a one-kilometer radius and is part of High Tide's strategy to secure prime real estate in high-traffic areas. This represents the company's 11th store in Toronto and second in Scarborough, a borough with over 630,000 residents.
High Tide Inc. (Nasdaq: HITI) ha aperto il suo secondo negozio Canna Cabana a Scarborough, Ontario, segnando la 188ª posizione dell'azienda in Canada e la 74ª in Ontario. Il nuovo negozio, situato al 2432 di Eglinton Avenue East, si trova in un vivace complesso commerciale vicino alla stazione dei treni GO e della metropolitana di Kennedy. La posizione servirà circa 20.000 residenti entro un raggio di un chilometro ed è parte della strategia di High Tide per acquisire immobili di prima qualità in aree ad alto traffico. Questo rappresenta l'undicesimo negozio dell'azienda a Toronto e il secondo a Scarborough, un quartiere con oltre 630.000 abitanti.
High Tide Inc. (Nasdaq: HITI) ha abierto su segunda tienda Canna Cabana en Scarborough, Ontario, marcando la 188ª ubicación de la empresa en Canadá y la 74ª en Ontario. La nueva tienda, ubicada en 2432 Eglinton Avenue East, se encuentra en un complejo comercial muy concurrido cerca de la estación de tren GO y del metro de Kennedy. La ubicación atenderá aproximadamente a 20,000 residentes dentro de un radio de un kilómetro y es parte de la estrategia de High Tide para asegurar propiedades en áreas de alto tráfico. Esto representa la undécima tienda de la empresa en Toronto y la segunda en Scarborough, un barrio con más de 630,000 habitantes.
High Tide Inc. (Nasdaq: HITI)는 온타리오주 스카보로에 두 번째 Canna Cabana 매장을 열었으며, 이는 회사의 캐나다 내 188번째 매장과 온타리오주 내 74번째 매장을 의미합니다. 새 매장은 2432 Eglinton Avenue East에 위치해 있으며, 케네디 GO 기차 및 지하철역 근처의 붐비는 쇼핑 복합단지에 자리잡고 있습니다. 이 매장은 1km 반경 내 약 20,000명의 주민들에게 서비스를 제공하며, High Tide의 전략의 일환으로 고교통 지역에 주요 부동산을 확보하는 것을 목표로 하고 있습니다. 이는 토론토 내 11번째 매장이자 스카보로 내 두 번째 매장으로, 해당 지역은 630,000명 이상의 주민을 보유하고 있습니다.
High Tide Inc. (Nasdaq: HITI) a ouvert son deuxième magasin Canna Cabana à Scarborough, en Ontario, marquant la 188ᵉ localisation de l'entreprise au Canada et la 74ᵉ en Ontario. Le nouveau magasin, situé au 2432 Eglinton Avenue East, se trouve dans un complexe commercial animé près de la gare de train GO et de la station de métro Kennedy. Cet emplacement servira environ 20 000 résidents dans un rayon d'un kilomètre et fait partie de la stratégie de High Tide d'acquérir des biens immobiliers de premier choix dans des zones à fort trafic. Cela représente le 11ᵉ magasin de l'entreprise à Toronto et le deuxième à Scarborough, un quartier de plus de 630 000 habitants.
High Tide Inc. (Nasdaq: HITI) hat seinen zweiten Canna Cabana Laden in Scarborough, Ontario, eröffnet, was den 188. Standort des Unternehmens in Kanada und den 74. in Ontario markiert. Der neue Laden befindet sich in der Eglinton Avenue East 2432, in einem stark frequentierten Einkaufszentrum in der Nähe des Kennedy GO Train und U-Bahn-Station. Der Standort wird voraussichtlich etwa 20.000 Einwohner innerhalb eines Kilometer-Radius bedienen und ist Teil von High Tides Strategie, erstklassige Immobilien in stark frequentierten Gebieten zu sichern. Dies stellt die 11. Filiale des Unternehmens in Toronto und die zweite in Scarborough dar, einem Stadtteil mit über 630.000 Einwohnern.
- Strategic expansion with new store in high-traffic location
- Continued retail growth reaching 188 total locations
- Prime positioning near major transit hub and shopping complex
- Potential customer base of 20,000 residents within 1km radius
- None.
Insights
The opening of a second Canna Cabana store in Scarborough represents incremental growth but immediate financial impact for High Tide. The strategic location near Kennedy GO Train station and within a shopping complex anchored by major retailers suggests strong foot traffic potential. The catchment area of 20,000 residents within one kilometer provides a solid customer base.
However, with this being store 188 in Canada and 74 in Ontario, the marginal contribution to overall revenue will be modest. While the location demonstrates good real estate strategy, single store openings typically don't move the needle significantly for a company of High Tide's size (
Located in
"I am excited to announce the opening of our second Cabana in
"Our innovative and disruptive retail model, complemented by a strong and strategic real estate portfolio, continues to drive consistent free cash flow generation, fueling our robust brick-and-mortar growth trajectory. We are equally enthusiastic about accelerating momentum in our e-commerce segment as we prepare to launch an exciting and innovative range of offerings," 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 globally by store count1. 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 cannabis retail chain in
Retail Innovation: Fastendr™ is a unique and fully automated technology that employs retail kiosks to facilitate a better buying experience through browsing, ordering and pickup.
Consumption Accessories: High Tide operates a suite of leading accessory e-commerce platforms across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
Brands: High Tide's industry-leading and consumer-facing brand roster includes Queen of Bud™, Cabana Cannabis Co™, Daily High Club™, Vodka Glass™, Puff Puff Pass™, Dopezilla™, Atomik™, Hue™, Evolution™ and more.
CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.
High Tide consistently moves ahead of the currents, having been named one of
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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1 As reported by ATB Capital Markets based on store counts as of February 8, 2024. |
CONTACT INFORMATION
Media Inquiries
Omar Khan
Chief Communications and Public Affairs Officer
High Tide Inc.
omar@hightideinc.com
403-770-3080
Investor Inquiries
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
vahan@hightideinc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: the timing of our new location beginning to sell recreational cannabis products and consumption accessories for adult use; the expected benefits of the store location; the Company's commitment to securing prime real estate in high traffic areas; the Company continuing to drive consistent free cash flow generation; the Company continuing to fuel its robust brick-and-mortar growth trajectory; the Company accelerating momentum in e-commerce; and the Company launching new product offerings. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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SOURCE High Tide Inc.
FAQ
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