Second Cup sees sharp sales decline in Q2 while cannabis pivot continues

Coffee-turned-cannabis retailer Second Cup Ltd. (TSX.SCU) saw a more-than-50% drop in café sales during the second quarter of 2020, which ended June 27th.

While the company is not abandoning the java business, as evidenced by its acquisition of Ottawa’s Bridgehead Coffee earlier this year, Aegis (Second Cup’s corporate re-brand) CEO Steve Pelton pointed to cannabis sales as a key value-driver in Friday’s quarterly report.

In addition to opening its first store on July 10th, under the Hemisphere Cannabis branding, the company also announced it is in the early stages of acquiring a partner for a planned CBD-infused beverage.

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