New York’s First Recreational Marijuana Shop Sold $12 Million In Six Months
“We definitely anticipated this amount of revenue”
Housing Works, the first legal adult-use marijuana shop to open for business in New York, announced Monday that it sold $12 million in cannabis in its first six months of operations. It opened its doors just two days before New Year’s Eve.
The nonprofit retailer – which devotes all of its proceeds to helping underprivileged members of the community – has managed to average about $2 million a month, said Sasha Nutgent, Housing Works’ retail manager. Nutgent said that’s in line with sales projections the business had drawn up last year, and that sales even slightly “exceeded” internal expectations despite a “lull” over the July 4 holiday.
She predicted that cannabis will follow traditional retail patterns, meaning sales should begin to increase again in September.
“We definitely anticipated this amount of revenue,” Nutgent said, but added that from what she’s heard through the cannabis grapevine, other legal shops aren’t faring quite as well.
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