High Tide to Open Third Canna Cabana in Hamilton, Ontario
High Tide (Nasdaq: HITI) announced the opening of its third Canna Cabana store in Hamilton, Ontario, marking the company's 187th location in Canada and 73rd in Ontario. The new store, located at 1508 Upper James Street in a former GameStop location, will serve an area with over 150,000 people within a 5-kilometer radius. The opening contributes to High Tide's achievement of 25 new stores across Canada this year, including 19 in Ontario, exceeding their minimum target of 20 new stores. The company plans to focus on underserviced and high-potential markets in Ontario while developing new e-commerce initiatives.
High Tide (Nasdaq: HITI) ha annunciato l'apertura del suo terzo negozio Canna Cabana a Hamilton, Ontario, segnando la 187ª posizione dell'azienda in Canada e la 73ª in Ontario. Il nuovo negozio, situato al 1508 di Upper James Street in un precedente locale di GameStop, servirà un'area con oltre 150.000 persone entro un raggio di 5 chilometri. L'apertura contribuisce al raggiungimento di High Tide di 25 nuovi negozi in Canada quest'anno, di cui 19 in Ontario, superando il loro obiettivo minimo di 20 nuovi negozi. L'azienda prevede di concentrarsi su mercati poco serviti e ad alto potenziale in Ontario mentre sviluppa nuove iniziative di e-commerce.
High Tide (Nasdaq: HITI) anunció la apertura de su tercera tienda Canna Cabana en Hamilton, Ontario, marcando la ubicación 187 de la compañía en Canadá y la 73 en Ontario. La nueva tienda, ubicada en 1508 Upper James Street en un antiguo local de GameStop, atenderá a un área con más de 150,000 personas en un radio de 5 kilómetros. La apertura contribuye al logro de High Tide de 25 nuevas tiendas en Canadá este año, incluyendo 19 en Ontario, superando su objetivo mínimo de 20 nuevas tiendas. La compañía planea centrarse en mercados desatendidos y de alto potencial en Ontario mientras desarrolla nuevas iniciativas de comercio electrónico.
하이 타이드 (Nasdaq: HITI)는 온타리오주 해밀턴에 세 번째 캐나 카바나 매장을 오픈했다고 발표했으며, 이는 캐나다에서 187번째, 온타리오주에서 73번째 매장입니다. 새 매장은 1508 Upper James Street에 위치하며 이전에 GameStop이 있던 장소로, 5킬로미터 이내에 15만 명 이상의 주민들이 있는 지역을 서비스할 것입니다. 이번 매장 개장은 하이 타이드가 올해 캐나다 전역에 25개의 새 매장을 여는 성과를달성하게 하였으며, 이 중 19개는 온타리오주에 위치해 있어 최소 목표인 20개의 새 매장을 초과 달성하는 결과를 가져왔습니다. 회사는 온타리오의 서비스가 부족하고 잠재력이 높은 시장에 집중하는 동시에 새로운 전자상거래 이니셔티브를 개발할 계획입니다.
High Tide (Nasdaq: HITI) a annoncé l'ouverture de son troisième magasin Canna Cabana à Hamilton, en Ontario, marquant le 187ème emplacement de l'entreprise au Canada et le 73ème en Ontario. Le nouveau magasin, situé au 1508 Upper James Street dans un ancien emplacement GameStop, desservira une zone de plus de 150 000 personnes dans un rayon de 5 kilomètres. L'ouverture contribue à l'atteinte par High Tide de 25 nouveaux magasins à travers le Canada cette année, dont 19 en Ontario, dépassant leur objectif minimum de 20 nouveaux magasins. L'entreprise prévoit de se concentrer sur les marchés sous-servis et à fort potentiel en Ontario tout en développant de nouvelles initiatives de commerce électronique.
High Tide (Nasdaq: HITI) gab die Eröffnung seines dritten Canna Cabana Geschäfts in Hamilton, Ontario, bekannt, was den 187. Standort des Unternehmens in Kanada und den 73. in Ontario markiert. Das neue Geschäft, das sich in der Upper James Street 1508 in einem ehemaligen GameStop-Geschäft befindet, wird ein Gebiet mit über 150.000 Menschen in einem Umkreis von 5 Kilometern bedienen. Die Eröffnung trägt zur Erreichung von High Tide bei, in diesem Jahr 25 neue Filialen in Kanada zu eröffnen, einschließlich 19 in Ontario, was das Mindestziel von 20 neuen Geschäften übersteigt. Das Unternehmen plant, sich auf unterversorgte und hochpotenzielle Märkte in Ontario zu konzentrieren und gleichzeitig neue E-Commerce-Initiativen zu entwickeln.
- Exceeded store opening target with 25 new locations in 2023, including 19 in Ontario
- Strategic location in Hamilton with 150,000 population density within 5km radius
- competition in the area
- Expansion to 187 total stores across Canada
- None.
Insights
The new Hamilton location represents strategic retail expansion in a promising market with key demographic advantages. The store's placement in a former GameStop location within Upper James Square offers strong visibility and minimal local competition. The surrounding area boasts a substantial population density of 150,000 within a 5km radius, suggesting solid foot traffic potential.
High Tide has demonstrated strong execution on its expansion strategy, delivering 25 new stores nationwide in 2023, with 19 in Ontario alone - exceeding their minimum target of 20 stores. The company's focus on underserviced Ontario markets shows disciplined site selection. However, while retail growth is positive, Canadian cannabis retail faces ongoing margin pressures and market saturation concerns. The hint at new international e-commerce initiatives could provide additional growth vectors beyond traditional retail.
Opening in a former GameStop location, this Canna Cabana store will have excellent visibility within Upper James Square, a major shopping centre in
"I am thrilled to announce the opening of our newest Cabana, further expanding our reach in the
"While Canadian brick-and-mortar sales remain the heart and soul of our business, innovation in the e-commerce space remains a priority. I look forward to announcing some exciting new offerings that I believe will be as disruptive internationally as our Cabana Club has been in
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 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.
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, and our commitment to opening future stores in prime power centre locations and the expansion of our discount club model. 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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1 As reported by ATB Capital Markets based on store counts as of February 8, 2024 |
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SOURCE High Tide Inc.
FAQ
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