Your email address will not be published. One of the benefits of the company's measured growth strategy is that unlike rival cannabis companies that have been very aggressive in their expansion, Planet 13 doesn't have to try and manage many different locations across the country and can instead focus on its SuperStore location and making it as efficient and cost-effective as possible. The cannabis megastore just announced their third consecutive month of generating over $7.5 million in revenue. The poorest month of 2020 for out of state residents was undoubtedly April, with adult-use cannabis sales only reaching $7,524,847.47. Located near the Strip, the complex is adding restaurants, cafes, and even has a cannabis museum coming to its 112,000 square foot location. Call Us. We offer local delivery and in-store pick up for your convenience! Join our mailing list to receive the latest news and updates from the Green Market Report.
During the past three months, the company has generated $16.5 million in sales, which is 9.5% of the $174.6 million that the state has generated in cannabis revenue during that same period. Returns as of 11/12/2020. Planet 13 is even more special because currently, they’re only located in Las Vegas, Nevada. The 2020 election clearly shows the country overwhelmingly supports having access to cannabis given five out of five states with cannabis on the ballot voted yes and here in Illinois six out of seven suburbs gave a green thumbs up to allowing adult-use sales in their communities. Let's conquer your financial goals together...faster. Planet 13 (CSE:PLTH) (OTCQX:PLNHF) is potentially one of the most well-known dispensaries around. 25. The state of Illinois reported adult use sales in October to be $75,278,200.15 million, while medical cannabis sales topped off at $33,135,102.46 million. A year ago, however, Planet 13 had an average ticket of $84.69. For having operations in only one state, they sure do gain a ton of attention! Planet 13 Holdings (OTC:PLNH.F) released an update on Feb. 6 announcing that revenue for January was a new record. The company also captured 9.1% of Nevada's total dispensary revenue during the quarter. Data released by the state of Illinois shows out of state data in addition to their in-state data. Nevada has been one of the hottest markets for cannabis in the entire country. Let's conquer your financial goals together...faster.
The total combined sales from both programs reached $108,413,302.61 million. She is a financial reporter for the Green Market Report and a freelance writer for other businesses in the cannabis space. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Americans want the right to safe, regulated cannabis products and understand that this industry is bringing much-needed tax revenue and creating jobs,” said Green Thumbs Industries, a retail store with eight Illinois locations and two cultivation operations.
A year ago, however, Planet 13 had an average ticket of $84.69. The SuperStore, our delivery, and our wholesale are all performing at top levels,” said Bob Groesbeck. Phase II which includes a 15,000 sq. Planet 13’s figures include sales for the SuperStore, as well as Nevada wholesale. Our customer service team are available to help you 24/7 if you have any questions regarding deals & promotions! “These numbers are not surprising as Illinois crosses $100 million in sales a month. “Planet 13 continues to generate strong revenue with three consecutive months over $7.5 million. Cumulative Growth of a $10,000 Investment in Stock Advisor, Planet 13 Reaches Record Sales in January @themotleyfool #stocks $PLNH.F, The Only 3 Marijuana Stocks That Ended February in the Green, Planet 13's Superstore to Sell Mike Tyson's "Undisputed 87" Brand of Cannabis Products in Exclusive Agreement, The 3 Most Important States for Marijuana Stock Investors, These 3 Pot Stocks Were Rocked in January, but Now They're Bargains, Copyright, Trademark and Patent Information. They are incredibly innovative, massive in size, and just all around at the top of the dispensary game.
Planet 13 said that January revenue was ~10% higher than the seasonally slow months of November and December.
This has helped it to keep its costs under control and not incur significant losses. Planet 13 Las Vegas Dispensary Deals.
Last week, the cannabis producer released its quarterly earnings, which continued to show strong growth. Adult-use sales began to pick back up in May, and have been on a steady increase every month since.
There are many reasons to be excited about where the company is headed, especially as it looks not only to expand its SuperStore location but to expand into California as well.
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. In the company's last monthly update in November, Planet 13's revenue for January 2019 was just under $4.1 million. Planet 13 Holdings, Inc. engages in the manufacture and production of cannabis products.
In the earnings release, the company's co-CEO, Larry Scheffler, highlighted some of the things consumers can expect: Our Phase II expansion is progressing at full speed with the goal of opening at the end of Q3. Market data powered by FactSet and Web Financial Group. "As we add additional attractions and store-in-store options we expect the cross promotion and improved customer experience to continue to drive traffic and ticket growth," he said. Sales in excess of $50 million have been the norm for the state, and one company that has been a dominant force there is Planet 13 Holdings (OTC:PLNH.F).
The company’s October revenue clocked out at $7.6 million, with gross margins above 50%.
Cannabis Industry Sees Strong October, Planet 13 & Illinois Sales, Aurora Cannabis Reports Mixed Q1 Earnings, Stocks up 21%, Tilray Reports Flat Sales In Third Quarter, Survey shows 75% of veterans are interested in cannabis, Aleafia Revenue Is Flat, Says Sales Set To Improve, Harvest Health Touts Arizona Potential During Earnings Call, Green Market Report’s Marijuana Money November 6, 2020, Winter Is Coming: Lucky Box Club Launches “Seasonal Collections” with “Winter Collection”, Use of CBD Oils to Battle Anxiety & Depression During COVID-19. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tourism has been a big part of the company's success, with Scheffler noting that close to 80% of the store's visitors have come from outside the state. See you at the top! This is almost 100% because of the coronavirus lockdowns that took place during the month of April.
Kaitlin is a 23-year-old wife and mom to three children. We’re hoping to hit 1,000.… https://t.co/HuD3yJkI3d, $OGI @discoverOGI Shares Plunge On New $60 Million Offering #potstocks #CannabisCommunity #CannabisNews https://t.co/nPWi25WZIY. Our Las Vegas marijuana online ordering service offers Nevada’s best cannabis products. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Planet 13's vision is to differentiate itself from rivals by creating much more than just a dispensary. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis, $HRVSF @HarvestHOC Touts Arizona Potential During #Earnings Call #cannabis #CannabisCommunity #potstocks https://t.co/beZADSogAE, We are over 800 subscribers on our @YouTube channel. The SuperStore is much than just a dispensary, it's become an attraction for tourists.
Adult use cannabis sales reached $67,646,259 and medical sales hit $31,440,440, so records were broken in all three categories. Stock Advisor launched in February of 2002. Market data powered by FactSet and Web Financial Group. Planet 13's co-CEO Larry Scheffler believes there's still potential for the average ticket to rise as the company expands its SuperStore location in Las Vegas. The second lowest month was March, with sales not hitting much higher at $8,805,611.99. Planet 13’s figures include sales for the SuperStore, as well as Nevada wholesale. All rights reserved. Phone: (03) 9824 4180 Fax: (03) 9822 5547 Email: firstname.lastname@example.org While it didn't disclose a specific figure, it said it was approximately 10% more than what it calls the "seasonally slow months of November and December.".
While it's great to see that revenues have nearly quadrupled from $4.4 million to $16.5 million, what's even better is that the company has been able to achieve those results while also posting a stronger bottom line.
In the company's last monthly update in November, Planet 13's revenue for January 2019 was just under $4.1 million. Mount Prospect with 63%, Elk Grove Village with 63%, Park Ridge with 59%, Wilmette with 55%, Batavia with 63%, Glen Ellyn with 51%.
Green Market Report © 2017 – document.write(new Date().getFullYear());. Adjusted EBITDA of $2.7 million was also significantly higher from $505,000 a year ago. Continuing with October’s strength, Illinois’ cannabis sales broke another record last month. These numbers broke those of September, which reported total sales at $99,086,699. Learn More.
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