High Tide’s Cannabis Sales Soar; Fire & Flower Clipped By Competition

Fire & Flower lost CA$9.9 million on declining revenue

Two of Canada’s biggest cannabis retailers, Edmonton, Alberta-based High Tide and Toronto’s Fire & Flower, reported small losses in their latest respective quarters.

However, one retailer is feeling the pinch from competitors more than the other.

High Tide reported a net loss of 8.2 million Canadian dollars ($6.3 million) for its quarter ended April 30 on soaring revenue. The loss is smaller than what High Tide incurred a year ago.

The CA$81 million in sales is approximately doubled High Tide’s revenue in the same quarter last year.

Fire & Flower, on the other hand, lost CA$9.9 million on declining revenue.

The retailer’s CA$40.1 million in sales in the quarter represent a significant decline from last year’s revenue of CA$44.1 million in the same three-month period.

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Marijuana Retail Report, is a national daily online trade publication serving retailers of marijuana products and accessories. News and information are geared strictly to select retail channels, with distribution limited to licensed collectives, recreational retailers, accessories retailers, and wholesalers.


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