High Tide Opens New Canna Cabana Store in Cornwall, Ontario
High Tide Inc. (NASDAQ: HITI) announced the opening of a new Canna Cabana retail cannabis store in Cornwall, Ontario, set to begin operations on May 12, 2025. The new location at 525 Ninth Street marks the company's 197th Canna Cabana store in Canada and 81st in Ontario. Strategically positioned beside a national grocery chain in a high-traffic shopping centre, this second Cornwall location serves the east end community with minimal local competition. High Tide expects to reach its 200th store milestone by the end of May 2025. The company, ranked as Canada's second-largest cannabis retailer by store count, continues to demonstrate strong same-store sales performance through its loyalty-focused retail model.
High Tide Inc. (NASDAQ: HITI) ha annunciato l'apertura di un nuovo negozio al dettaglio di cannabis Canna Cabana a Cornwall, Ontario, con inizio delle attività previsto per il 12 maggio 2025. La nuova sede, situata al 525 Ninth Street, rappresenta il 197° negozio Canna Cabana in Canada e l'81° in Ontario. Strategicamente posizionato accanto a una catena nazionale di supermercati in un centro commerciale ad alto traffico, questo secondo punto vendita a Cornwall serve la comunità dell'est della città con una concorrenza locale minima. High Tide prevede di raggiungere il traguardo dei 200 negozi entro la fine di maggio 2025. L'azienda, seconda in Canada per numero di negozi nel settore della cannabis, continua a mostrare una solida performance nelle vendite a parità di negozio grazie al suo modello di vendita al dettaglio focalizzato sulla fidelizzazione dei clienti.
High Tide Inc. (NASDAQ: HITI) anunció la apertura de una nueva tienda minorista de cannabis Canna Cabana en Cornwall, Ontario, que comenzará a operar el 12 de mayo de 2025. La nueva ubicación en 525 Ninth Street marca la 197ª tienda Canna Cabana de la compañía en Canadá y la 81ª en Ontario. Estratégicamente situada junto a una cadena nacional de supermercados en un centro comercial de alto tráfico, esta segunda tienda en Cornwall atiende a la comunidad del este con poca competencia local. High Tide espera alcanzar su hito de 200 tiendas para finales de mayo de 2025. La empresa, clasificada como el segundo minorista de cannabis más grande de Canadá por número de tiendas, continúa demostrando un sólido desempeño en ventas comparables mediante su modelo minorista centrado en la lealtad del cliente.
High Tide Inc. (NASDAQ: HITI)는 2025년 5월 12일에 온타리오주 콘월에 새로운 Canna Cabana 소매 대마초 매장을 개장한다고 발표했습니다. 525 Ninth Street에 위치한 이 새로운 매장은 캐나다 내에서 회사의 197번째 Canna Cabana 매장이자 온타리오주 내 81번째 매장입니다. 전국 식료품 체인 옆에 위치한 이 두 번째 콘월 매장은 유동 인구가 많은 쇼핑센터에 자리잡아 지역 내 경쟁이 거의 없는 동부 지역 사회에 서비스를 제공합니다. High Tide는 2025년 5월 말까지 200번째 매장 달성을 기대하고 있습니다. 매장 수 기준 캐나다에서 두 번째로 큰 대마초 소매업체인 이 회사는 충성도 중심의 소매 모델을 통해 강력한 동일 매장 매출 실적을 지속적으로 보여주고 있습니다.
High Tide Inc. (NASDAQ : HITI) a annoncé l'ouverture d'un nouveau magasin de cannabis au détail Canna Cabana à Cornwall, Ontario, qui commencera ses activités le 12 mai 2025. Le nouvel emplacement au 525 Ninth Street marque le 197e magasin Canna Cabana de l'entreprise au Canada et le 81e en Ontario. Stratégiquement situé à côté d'une chaîne nationale d'épiceries dans un centre commercial très fréquenté, ce deuxième magasin à Cornwall dessert la communauté de l'est avec une concurrence locale minimale. High Tide prévoit d'atteindre le cap des 200 magasins d'ici fin mai 2025. L'entreprise, classée comme le deuxième plus grand détaillant de cannabis au Canada en nombre de magasins, continue de démontrer de solides performances de ventes comparables grâce à son modèle de vente au détail axé sur la fidélisation de la clientèle.
High Tide Inc. (NASDAQ: HITI) gab die Eröffnung eines neuen Canna Cabana-Einzelhandelsgeschäfts für Cannabis in Cornwall, Ontario, bekannt, das am 12. Mai 2025 den Betrieb aufnehmen soll. Der neue Standort in der 525 Ninth Street ist das 197. Canna Cabana-Geschäft des Unternehmens in Kanada und das 81. in Ontario. Strategisch neben einer landesweiten Lebensmittelkette in einem stark frequentierten Einkaufszentrum gelegen, bedient dieser zweite Standort in Cornwall die Ostend-Gemeinde mit minimaler lokaler Konkurrenz. High Tide erwartet, bis Ende Mai 2025 den Meilenstein von 200 Geschäften zu erreichen. Das Unternehmen, das nach Anzahl der Geschäfte der zweitgrößte Cannabis-Einzelhändler Kanadas ist, zeigt weiterhin starke Umsätze bei gleichbleibenden Filialen dank seines auf Kundenbindung ausgerichteten Einzelhandelsmodells.
- Expansion to 197 stores nationwide with strong presence of 81 locations in Ontario
- Strategic location in high-traffic shopping center with minimal competition
- Company approaching milestone of 200 stores by end of May 2025
- Expansion funded through free cash flow, indicating strong financial health
- Leading industry in same-store sales performance
- None.
Insights
High Tide continues strategic expansion with second Cornwall location, nearing 200-store milestone while maintaining industry-leading same-store sales.
High Tide's new Cornwall location represents more than just another pin on the map. This 197th Canna Cabana store showcases the company's disciplined expansion approach and demonstrates several key strategic advantages.
The new east end location complements their existing west end store in Cornwall, creating a two-pronged market coverage strategy in this city of 50,000+ residents. This calculated positioning allows High Tide to efficiently capture different traffic patterns across the municipality while facing "little local competition" as noted in their announcement.
The site selection reveals High Tide's sophisticated retail strategy – positioning beside a national grocery chain within a high-traffic community shopping center. This approach leverages established destination shopping patterns without requiring standalone customer acquisition efforts.
CEO Raj Grover's emphasis on "free cash flow" driving expansion is particularly noteworthy. Unlike many cannabis retailers that expanded aggressively through debt financing, High Tide appears to be funding growth through operational cash generation – a sustainable approach that reduces financial risk while maintaining growth momentum.
The projected 200-store milestone by month-end represents another validation of their expansion model. With 81 locations in Ontario alone, High Tide has established meaningful scale in Canada's largest consumer market, creating operational efficiencies and brand recognition advantages.
Their self-described "differentiated, loyalty-focused retail model" appears to be yielding results through "industry-leading same-store sales" – the retail sector's critical performance metric that measures organic growth rather than just location count increases.
While a single store opening wouldn't typically move the needle for a company with nearly 200 locations, this announcement signals continued execution of High Tide's strategic plan without deviating from their established successful formula.
"We're thrilled to deepen our roots in
"As always, this expansion is being driven by free cash flow and supported by our strategy of securing high-quality, high-traffic real estate. Our same-store sales continue to lead the industry, which we attribute to our differentiated, loyalty-focused retail model and superior site selection. May is shaping up to be a high-impact month for new store openings, and if all goes to plan, we expect to reach our milestone 200th Canna Cabana location by the end of this month," added Mr. Grover.
ABOUT HIGH TIDE
High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant and is the second-largest cannabis retailer globally by store count1. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:
Bricks & Mortar Retail: Canna Cabana™ is the largest cannabis retail chain in
Retail Innovation: Fastendr™ is a unique and fully automated technology that employs retail kiosks to facilitate a better buying experience through browsing, ordering and pickup.
Consumption Accessories: High Tide operates a suite of leading accessory e-commerce platforms across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
Brands: High Tide's industry-leading and consumer-facing brand roster includes Queen of Bud™, Cabana Cannabis Co™, Daily High Club™, Vodka Glass™, Puff Puff Pass™, Dopezilla™, Atomik™, Hue™, Evolution™ and more.
CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.
High Tide consistently moves ahead of the currents, having been named one of
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Media Inquiries
Carter
Communications and Public Affairs Advisor
High Tide Inc.
cbrownlee@hightideinc.com
403-770-3080
Investor Inquiries
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
vahan@hightideinc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: the timing of our new locations beginning to sell recreational cannabis products and consumption accessories for adult use, the expected benefits of the store locations, the level of competition in the area, and our commitment to opening the number of future stores on the timeline indicated herein. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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1 As reported by ATB Capital Markets based on store counts as of February 6, 2025 |
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SOURCE High Tide Inc.
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