RE:Supreme/UpdateMuch appreciated joh, very good news on H&F progress especially product shelved countrywide....it is better to estimate low and come in on the high side for most for sure.
I don't see anything in the Dec guidamce that they should be worried about or having to apologize for, it is an estimate and even without the revised update they appear to be very close to right on target....they are within weeks of Dec estimates of which should be taken as it was, right at the beginning of a lot of changes. Anyone tore up about the so called 'miss' is trying to pick fly shite out of pepper. There was no material miss by any measure.
I am never interested in hearing fluff and bullshite, it only causes me concern and shows weakness or worse....Moore and team have nothing to shy away from, in fact quite the opposite as they have done a stellar job so far.
The numbers will confirm just how good the company's preformance is which is always the case but there is no failure here in the least, this company is much better positioned today than it was in Dec and will be much better yet by the end of current quarter and going forward. Congrats to Moore/team and those that own, JMHO...Opt
johnale wrote: Got a fullsome update from IR - some updates.
Humble and Fume hit the ground running and did a complete audit - determining market penetration of fire products - in every store across the country.
The sales pitch has started -
They have a deep relationship with a lot of these store owners which apparently is a huge bonus in this endevour.
trickle down effect though as stores order more fire products from provinces - which translates into the provinces buying more at their weekly shipments.
I think we will see the full effect of this Q4 - as this only started in march.
lots of education going on with stores as well - and i believe supreme developed an educational online program for budtenders with "supreme" hints, which is gaining popularity with stores to train their staff.
no confirmed numbers or anything like that, but in general - 7g sold very well in ontario, oils mostly sold out, quebec seems to be a big success.
where production seemed to be a limiting factor in Q2 - with 2 12k/day lines running in Q3 and 400% trim rate increase - production wasnt an issue for q3.
new products - I have no ETA - well see when they get here. but western provinces will get vapes first because they cant be flown anywhere - only trucked.
In terms of earnings - I have no handle on this at all ---
analysts in mid feb were calling for around 13mil. (saw a few reports)
but we had a huge spike in sales in march - which nobody foresaw.
the company is also being very cautious - as they had to retract guidance. Colin undertands that game much better - and the feeling is that expectations are being set much lower, to regain credibility.
anectodally - I have seen a lot of people online floating a minor increase in sales this Q - which is consitent with what the company is trying to put out there - with their feb calls with analysts.
My feeling is that this is being done on purpose - to temper expectations and easily beat them.
Supreme has a lot of work to do to gain credibility in the investment community- and I think its starting.