CordovaCann (CSE:CDVA)(OTCQB:LVRLF) Provides Year-End Update On Star Buds Cannabis Co. Retail Operations
CordovaCann's Star Buds Cannabis Co. reported strong performance in Q4 2024, with monthly revenues of $1.3 million in October and $1.2 million in November across its 11 retail stores. The chain demonstrated significant growth, with average stores showing 9.2% and 10.1% year-over-year revenue growth in October and November respectively. Ontario stores performed particularly well, with monthly revenues growing by 12.4% and 14.1% in the same periods.
The company maintained robust gross margins of 26.3% in October and 26.2% in November, with similar trends expected for December. Management expressed optimism about continued growth in 2025 and plans to expand beyond their current 11 locations through organic growth and acquisitions.
CordovaCann ha riportato performance solide per Star Buds Cannabis Co. nel quarto trimestre del 2024, con entrate mensili di 1,3 milioni di dollari in ottobre e 1,2 milioni di dollari in novembre attraverso i suoi 11 negozi al dettaglio. La catena ha mostrato una crescita significativa, con negozi medi che hanno registrato una crescita delle entrate del 9,2% e 10,1% anno su anno in ottobre e novembre rispettivamente. I negozi dell'Ontario hanno performato particolarmente bene, con entrate mensili in crescita del 12,4% e 14,1% nei medesimi periodi.
L'azienda ha mantenuto margini lordi robusti del 26,3% in ottobre e del 26,2% in novembre, con tendenze simili previste per dicembre. La direzione ha espresso ottimismo riguardo a una crescita continua nel 2025 e piani di espansione oltre le attuali 11 sedi attraverso crescita organica e acquisizioni.
CordovaCann ha informado un rendimiento sólido para Star Buds Cannabis Co. en el cuarto trimestre de 2024, con ingresos mensuales de 1,3 millones de dólares en octubre y 1,2 millones de dólares en noviembre en sus 11 tiendas minoristas. La cadena demostró un crecimiento significativo, con tiendas promedio mostrando un crecimiento de ingresos del 9,2% y 10,1% interanual en octubre y noviembre respectivamente. Las tiendas de Ontario tuvieron un rendimiento particularmente bueno, con ingresos mensuales que crecieron un 12,4% y 14,1% en los mismos períodos.
La empresa mantuvo márgenes brutos sólidos del 26,3% en octubre y del 26,2% en noviembre, con tendencias similares esperadas para diciembre. La dirección expresó optimismo sobre el crecimiento continuo en 2025 y planes de expansión más allá de sus actuales 11 ubicaciones a través de crecimiento orgánico y adquisiciones.
CordovaCann은 Star Buds Cannabis Co.가 2024년 4분기 동안 강력한 성과를 보고했으며, 10월에 130만 달러, 11월에 120만 달러의 월 수익을 기록했다고 전했습니다. 이 체인은 평균 매장에서 각각 9.2% 및 10.1%의 전년 대비 수익 성장률을 보이며 크게 성장했습니다. 온타리오 매장은 같은 기간 동안 월 수익이 12.4% 및 14.1% 증가하며 특별히 좋은 성과를 보였습니다.
회사는 10월에 26.3%, 11월에 26.2%의 강력한 총 매출 이익률을 유지했으며, 12월에도 비슷한 추세가 예상됩니다. 경영진은 2025년에도 지속적인 성장에 대한 낙관적인 전망을 밝혔으며, 현재의 11개 매장을 넘어 유기적 성장 및 인수를 통해 확장할 계획입니다.
CordovaCann a rapporté une performance solide pour Star Buds Cannabis Co. au quatrième trimestre 2024, avec des revenus mensuels de 1,3 million de dollars en octobre et 1,2 million de dollars en novembre à travers ses 11 magasins de détail. La chaîne a montré une croissance significative, avec des magasins moyens affichant une croissance des revenus de 9,2% et 10,1% d'une année sur l'autre en octobre et novembre respectivement. Les magasins de l'Ontario ont particulièrement bien performé, avec des revenus mensuels en hausse de 12,4% et 14,1% pendant les mêmes périodes.
L'entreprise a maintenu des marges brutes robustes de 26,3% en octobre et de 26,2% en novembre, avec des tendances similaires attendues pour décembre. La direction a exprimé son optimisme quant à une croissance continue en 2025 et prévoit de s'étendre au-delà de ses 11 emplacements actuels par le biais d'une croissance organique et d'acquisitions.
CordovaCann hat eine starke Leistung von Star Buds Cannabis Co. im vierten Quartal 2024 berichtet, mit monatlichen Einnahmen von 1,3 Millionen Dollar im Oktober und 1,2 Millionen Dollar im November aus seinen 11 Einzelhandelsgeschäften. Die Kette zeigte ein signifikantes Wachstum, wobei die durchschnittlichen Geschäfte ein Umsatzwachstum von 9,2% und 10,1% im Vergleich zum Vorjahr im Oktober und November erzielten. Die Geschäfte in Ontario schnitten besonders gut ab, mit monatlichen Einnahmen, die in den gleichen Zeiträumen um 12,4% und 14,1% wuchsen.
Das Unternehmen hielt starke Bruttomargen von 26,3% im Oktober und 26,2% im November aufrecht, wobei ähnliche Trends für Dezember erwartet werden. Das Management äußerte Optimismus über kontinuierliches Wachstum im Jahr 2025 und plant eine Expansion über die aktuellen 11 Standorte hinaus durch organisches Wachstum und Akquisitionen.
- Monthly revenues of $1.3M and $1.2M in October and November 2024
- Strong year-over-year growth: 9.2% in October and 10.1% in November
- Ontario stores showed higher growth rates of 12.4% and 14.1%
- Consistent gross margins above 26%
- Plans for retail footprint expansion beyond 11 locations
- Slight revenue decline from October ($1.3M) to November ($1.2M)
Star Buds Cannabis Co. Stores Close Out 2024 On a High Note
TORONTO, ON / ACCESSWIRE / December 18, 2024 / CordovaCann Corp. (CSE:CDVA)(OTCQB:LVRLF) ("Cordova" or the "Company"), a cannabis-focused consumer products company, proudly announces an update on its Star Buds Cannabis Co. retail operations in Canada.
Star Buds Cannabis Co. stores produced strong results through the first two months of the quarter ending December 31, 2024 and are expected to sustain this growth through the final weeks of the year. The Company's 11 retail stores continue to gain market share and produce consistent gross margin. The stores continue to win over customers with a diversified and well-regarded assortment of products and a team dedicated to providing exceptional customer service.
During the months of October and November, the Star Buds Cannabis Co. chain recorded monthly revenues of
The continued strong performance of the Star Buds Cannabis Co. chain highlights the efficiency of the current store portfolio. Management is optimistic that the positive momentum in both revenue and gross profit will continue in 2025 and is working to expand the retail footprint beyond the current 11 locations.
"The Star Buds Cannabis Co. stores have performed admirably in 2024, and we are excited about growing the platform organically and through accretive acquisitions in 2025," stated Taz Turner, Chairman and CEO of Cordova. "Our team is focused on expanding the retail business in Canada and will continue to explore ways to achieve that goal."
About CordovaCann Corp.
CordovaCann Corp. is a Canadian-domiciled company focused on building a leading, diversified cannabis products business across multiple jurisdictions including Canada and the United States. Cordova primarily provides services and investment capital to the retail, processing and production vertical markets of the cannabis industry.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable Canadian securities laws, including statements with respect to the Company's planned business activities, the anticipated benefits of the opening of the store and the prospect of opening additional retail stores. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including anticipated costs and ability to achieve business objectives and goals.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the Company's ability to retain key management and employees; intense competition and the Company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on EDGAR and SEDAR. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by applicable law
Company Contact:
Taz Turner
Chief Executive Officer
taz@cordovacann.com
(917) 843-2169
SOURCE: CordovaCann Corp.
View the original press release on accesswire.com
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