High Tide Inc V.HITI

Alternate Symbol(s): HITI

High Tide Inc. is a retail-focused cannabis company. Its segments include Bricks-and-mortar and E-commerce. Bricks-and-mortar operations includes the Canadian bricks-and-mortar locations, inclusive of the Canadian warehouse which supports the distribution of accessories and other items to the Canadian stores. Its E-commerce operations include the Company’s United States and international subsidiaries, inclusive of the United States warehouse which supports the distribution of accessories and other items to the United Sates and international subsidiaries. Bricks-and-mortar sales are conducted under the Company’s Canna Cabana brand, CBD product sales are conducted online under the FABCBD, Blessed CBD and NuLeaf brands, and online sales through e-commerce platforms are conducted under the Company’s Grasscity, Smoke Cartel, Daily High Club and Dankstop brands. Its brand Queen of Bud sells products across Canada both direct to consumers and through third-party licensed cannabis stores.

TSXV:HITI - Post by User

High Tide Inc

<< Previous

Bullboard Posts

Next >>

Post by thebeston Feb 22, 2022 12:22pm

174 Views

Post# 34450580

global and mail report

Globe says High Tide CEO sees small pot shops hurting

2022-02-22 07:34 ET - In the News

The Globe and Mail reports in its Tuesday, Feb. 22, edition that analysts have been predicting the cannabis retail market is due for consolidation. The Globe's Irene Galea writes that Raj Grover, chief executive officer of High Tide, says he is approached weekly by independent business owners interested in selling their retail pot stores. Mr. Grover says many are desperate to recoup costs after having taken second mortgages on their homes to open the stores. Mr. Grover says, "A lot of these smaller groups are realizing that this is a hypercompetitive cannabis retail market, and this may be their only opportunity to cash out." The NASDAQ-listed cannabis retailer, headquartered in Calgary, currently controls 111 locations across Canada. Mr. Grover expects to increase that number to 150 by the end of 2022. Large corporate retailers currently only own about 20 per cent of all bricks-and-mortar stores across the country. Mr. Grover expects they will take an additional 40-per-cent market share from mom-and-pop shops in the next two years. Some say what is coming is not necessarily a wave of takeovers. Instead, the industry could simply see a wave of hundreds of closings as operators go bankrupt.