August Results Significant Year-Over-Year Revenue Growth LAS VEGAS, NV / ACCESSWIRE / September 21, 2021 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced the financial and operational results for its Nevada wholly owned subsidiaries for the month of August 2021 with net revenues of $1.8M and a gross margin of 51.9%. These results represent a 24.8% year-over-year increase in monthly revenue, and a 50.7% increase in revenue when compared to August 2019. Overall August proved to be a great month as the retail side of the business, Oasis Cannabis was open for only 29 out of the month's 31 days. The closure was to reward the hardworking staff with a staff appreciation day and workshops for career advancement.
CLS Nevada August 2021 Financial and Operational Highlights
- August 2021 net revenue increased by 24.8% year-over-year, and by 50.7% over August 2019. The Company met its gross margin goals, achieving 51.9% for the month, compared to 50.6% during August 2020.
- The number of transactions processed at Oasis Cannabis increased 4.95% year-over-year increase with an average order value of $55.34 during August 2021.
- The Company's branded division, City Trees, continued to gain market share and achieved a 90.9% increase in year-over-year revenue.
- The Company continued to add jobs and benefits to the market, hiring a number of employees in August .
- Oasis Cannabis was open for only 29 of the 31 days in August. The closure was a means to reward the staff with a staff appreciation day and workshops for career advancement.
https://www.accesswire.com/664449/Staying-Hot-CLS-Holdings-USA-Inc-Announces-August-Results-with-Significant-Year-Over-Year-Revenue-Growth