Cordovacann (CSE: CDVA / OTCQB: LVRLF) Provides Update on Star Buds Cannabis Co. Retail Operations
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF) has reported strong growth for its Star Buds Cannabis Co. retail operations in Canada. The company's 11 stores have shown consistent performance, with average monthly revenues of $1.2 million from March to August 2024. Key highlights include:
- 10.3% year-over-year revenue growth for the average store
- 13.9% growth in average monthly revenues for higher-grossing Ontario stores
- Strong aggregate gross margin of 26.9%, an 800 basis point increase year-over-year
- Record-breaking monthly revenues and gross profit in August 2024, surpassing August 2022 figures despite operating fewer stores
The company attributes this success to a diverse product assortment and exceptional customer service. Positive momentum has continued into September, with expectations for a strong finish to the year.
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF) ha riportato una forte crescita per le sue operazioni di vendita al dettaglio Star Buds Cannabis Co. in Canada. I 11 negozi dell'azienda hanno mostrato prestazioni costanti, con entrate mensili medie di 1,2 milioni di dollari dal marzo ad agosto 2024. I punti salienti includono:
- Crescita dei ricavi del 10,3% anno su anno per il negozio medio
- Crescita del 13,9% nelle entrate mensili medie per i negozi dell'Ontario con maggiori incassi
- Margine lordo aggregato forte del 26,9%, un aumento di 800 punti base anno su anno
- Entrate mensili e utile lordo record ad agosto 2024, superando le cifre di agosto 2022 nonostante l'operazione di un numero inferiore di negozi
L'azienda attribuisce questo successo a un assortimento di prodotti diversificato e a un servizio clienti eccezionale. Il momento positivo è continuato a settembre, con aspettative per un finale forte dell'anno.
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF) ha reportado un fuerte crecimiento en sus operaciones minoristas Star Buds Cannabis Co. en Canadá. Las 11 tiendas de la empresa han mostrado un rendimiento constante, con ingresos mensuales promedio de 1.2 millones de dólares desde marzo hasta agosto de 2024. Los aspectos más destacados incluyen:
- Crecimiento de ingresos del 10.3% interanual para la tienda promedio
- Crecimiento del 13.9% en los ingresos mensuales promedio para las tiendas de Ontario de mayores ingresos
- Fuerte margen bruto agregado del 26.9%, un aumento de 800 puntos básicos interanuales
- Ingresos mensuales y utilidad bruta récord en agosto de 2024, superando las cifras de agosto de 2022 a pesar de operar con menos tiendas
La empresa atribuye este éxito a una variedad de productos y un servicio al cliente excepcional. El impulso positivo ha continuado en septiembre, con expectativas de un cierre fuerte para el año.
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF)는 캐나다의 Star Buds Cannabis Co. 소매 운영에서 강력한 성장을 보고했습니다. 회사의 11개 매장은 2024년 3월부터 8월까지 월평균 수익 120만 달러의 일관된 성과를 보여주었습니다. 주요 하이라이트는 다음과 같습니다:
- 평균 매장에 대한 연간 수익 성장률 10.3%
- 높은 매출을 올리는 온타리오 매장의 월평균 수익 성장률 13.9%
- 연간 기준으로 800베이시스 포인트 증가한 26.9%의 강력한 총 매출 이익률
- 2024년 8월, 2022년 8월 대비 더 적은 매장을 운영했음에도 불구하고 기록적인 월평균 수익과 총 이익
회사는 이러한 성공을 다양한 제품군과 뛰어난 고객 서비스 덕분으로 보고 있습니다. 긍정적인 흐름은 9월에도 계속되었으며, 연말에 강력한 마감이 기대됩니다.
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF) a rapporté une forte croissance de ses opérations de vente au détail Star Buds Cannabis Co. au Canada. Les 11 magasins de l'entreprise ont montré des performances constantes, avec un chiffre d'affaires mensuel moyen de 1,2 million de dollars de mars à août 2024. Les points saillants incluent :
- Croissance des revenus de 10,3 % d'une année sur l'autre pour le magasin moyen
- Croissance de 13,9 % des revenus mensuels moyens pour les magasins de l'Ontario à forte recette
- Forte marge brute agrégée de 26,9 %, soit une augmentation de 800 points de base d'une année sur l'autre
- Revenus mensuels et bénéfice brut record en août 2024, dépassant les chiffres d'août 2022 malgré un nombre réduit de magasins en fonctionnement
L'entreprise attribue ce succès à une gamme de produits diversifiée et à un service client exceptionnel. L'élan positif s'est poursuivi en septembre, avec des attentes pour une forte conclusion de l'année.
CordovaCann Corp. (CSE:CDVA / OTCQB:LVRLF) hat ein starkes Wachstum seiner Einzelhandelsaktivitäten Star Buds Cannabis Co. in Kanada gemeldet. Die 11 Geschäfte des Unternehmens haben eine konstante Leistung gezeigt, mit durchschnittlichen monatlichen Einnahmen von 1,2 Millionen Dollar von März bis August 2024. Zu den wichtigsten Highlights gehören:
- 10,3 % Umsatzwachstum im Jahresvergleich für den Durchschnittsstore
- 13,9 % Wachstum der durchschnittlichen monatlichen Einnahmen für besser laufende Geschäfte in Ontario
- Starker aggregierter Bruttogewinn von 26,9 %, ein Anstieg um 800 Basispunkte im Jahresvergleich
- Rekordmonatliche Einnahmen und Bruttogewinn im August 2024, die die Zahlen von August 2022 trotz weniger betriebener Geschäfte übertrafen
Das Unternehmen führt diesen Erfolg auf ein vielfältiges Produktangebot und einen außergewöhnlichen Kundenservice zurück. Der positive Schwung setzte sich auch im September fort, mit Erwartungen an einen starken Jahresabschluss.
- Average monthly revenues of $1.2 million from March to August 2024
- 10.3% year-over-year revenue growth for the average store
- 13.9% growth in average monthly revenues for Ontario stores
- Aggregate gross margin increased by 800 basis points to 26.9%
- Record-breaking monthly revenues and gross profit in August 2024
- Operating three fewer stores compared to August 2022
Star Buds Cannabis Co. Stores Achieve Record Month in August
TORONTO, ON / ACCESSWIRE / September 26, 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 growth in the spring and summer and are expected to sustain this growth heading into the final stretch of the year. The Company's 11 retail stores continue to gain market share and produce consistent gross profit. The stores have won over customers with a strong and diversified assortment of products and a team dedicated to providing exceptional customer service.
During the six-month period from March to August 2024, the Star Buds Cannabis Co. chain recorded average monthly revenues of
In August, the Star Buds Cannabis Co. chain set a record for monthly revenues and gross profit, surpassing the previous record set in August 2022, when the chain operated three additional stores. This performance highlights the efficiency of the current store portfolio, despite operating in fewer locations. Positive momentum in both revenue and gross profit trends has continued into September, and the Company is optimistic about finishing the year strong. Currently, the Company operates its Star Buds Cannabis Co. retail platform via its two subsidiaries, 2734158 Ontario Inc. and 10062771 Manitoba Ltd.
"The Star Buds Cannabis Co. stores have shown strength in 2024, and we are excited about the growth of the platform as we head into the final months of the year," stated Taz Turner, Chairman and CEO of Cordova. "Our team is focused on scaling the Canadian retail business 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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