High Tide Inc., a leading retail-focused cannabis company, announced exceptional financial results for 4/20, showcasing continued year-over-year growth across its business segments.
On April 20th, High Tide generated a remarkable CAD in total retail gross revenues, representing a significant 35% increase compared to the previous Saturday. This surge in sales exemplifies the company’s strong market position and its ability to capitalize on the growing demand for cannabis products.
High Tide’s brick-and-mortar stores contributed significantly to this success, reporting a 30% increase in sales. This growth is attributed to the company’s strategic real estate initiatives and the unique offerings provided by its ELITE and Cabana Club programs. These programs have resonated with customers, enhancing the in-store experience and driving repeat business.
Equally impressive was the performance of High Tide’s e-commerce platforms, which collectively experienced a remarkable 119% increase in sales over the previous Saturday. This surge highlights the company’s strong online presence and its ability to cater to the growing demand for online cannabis accessories and CBD products.
Raj Grover, Founder and Chief Executive Officer of High Tide, expressed his excitement over the company’s continued success on 4/20. He highlighted the company’s unique approach, which combines a curated real estate strategy with innovative offerings, as key factors in outperforming industry averages.
High Tide remains committed to delivering exceptional experiences to its customers. With the opening of new markets and the expansion of its retail network, the company is well-positioned for continued growth in the future.
High Tide, Inc. is a leading community-grown, retail-forward cannabis enterprise that holds the distinction of being the second-largest cannabis retailer in Canada by store count. The company’s diverse operations span all aspects of the cannabis industry, including retail, e-commerce, cultivation, manufacturing, and distribution.
Through its extensive network of Canna Cabana™ stores, Fastendr™ kiosks and smart lockers, and industry-leading e-commerce platforms, High Tide offers a comprehensive range of cannabis products and accessories to consumers across Canada and internationally.
The company’s strong financial performance and continued expansion are a testament to its commitment to innovation, customer satisfaction, and the advancement of the cannabis industry.
