Welcome to our dedicated page for High Tide news (Ticker: HITI), a resource for investors and traders seeking the latest updates and insights on High Tide stock.
High Tide Inc. (HITI) maintains its position as Canada's leading vertically integrated cannabis retailer through continuous innovation in retail operations and e-commerce solutions. This news hub provides investors and industry observers with essential updates on corporate developments, financial milestones, and strategic initiatives within the evolving cannabis market.
Access authoritative information about HITI's retail expansions, technology implementations like the Fastendr kiosk system, and quarterly performance metrics. Our curated collection features official press releases covering earnings announcements, partnership agreements, product launches, and regulatory compliance updates.
Key focus areas include Canna Cabana store network growth, cannabis accessory innovations, and operational efficiency improvements. Users can track the company's progress in enhancing customer experiences through both physical retail locations and digital platforms while monitoring its competitive positioning within North American markets.
Bookmark this page for streamlined access to verified information about High Tide's business strategies, leadership decisions, and market responses. Regular updates ensure you maintain current awareness of developments affecting this dynamic cannabis enterprise.
High Tide Inc. (NASDAQ: HITI) reported a remarkable 88% revenue growth to $72.2 million in Q1 2022, marking the second-highest quarterly revenue for a Canadian cannabis company. Gross profit surged 56% to $23.0 million, though the profit margin slipped to 32%. Adjusted EBITDA fell to $3.0 million, down 36% year-over-year, but was up 80% sequentially. The company also saw significant growth in its Cabana Club membership, increasing to over 381,000 members. Retail expansion continues with 113 locations now operational, and plans for further market penetration in Ontario and British Columbia.
High Tide Inc. (HITI) announced the entry of its UK subsidiary, Blessed CBD, into the German market, launching online sales of various CBD products via www.BlessedCBD.de. Germany, projected to capture half of the EU cannabis market by 2024, positions itself as the largest CBD market in Europe. The global CBD demand is expected to hit US$56 billion by 2028. This strategic move aims to diversify High Tide's revenue streams while leveraging their existing infrastructure in Europe.
High Tide Inc. (HITI) announced the launch of its Delivery on Demand program in Alberta, allowing customers to receive orders within two hours. This initiative capitalizes on new regulations enabling private cannabis retailers to offer e-commerce services. Additionally, High Tide opened its 113th retail cannabis store in Waterloo, Ontario, marking its third in a rapidly growing region. The company aims to enhance competition against illicit markets and strengthen its market position in Alberta, further solidifying its status as the largest cannabis retailer in the province.
High Tide Inc. (HITI) has announced the launch of its FAB CBD Subscribe-and-Save discount program in the U.S., aimed at enhancing customer convenience through customizable orders and lifetime discounts of 20%. This initiative is expected to increase the lifetime value of customers and create a predictable recurring revenue stream for the company. CEO Raj Grover highlighted the program as a part of their strategy to leverage acquired businesses for consistent revenue growth, emphasizing future plans including the launch of a similar service in the U.K.
High Tide Inc. has opened its 112th retail cannabis store in Edmonton, Alberta, enhancing its footprint in Canada. This new location focuses on recreational cannabis sales and is strategically placed in a high-traffic area known for its local business community. The launch coincides with the anticipated private sector e-commerce and delivery services in Alberta, potentially increasing customer access to High Tide's offerings. The company plans to announce its first quarter financial results on March 17, 2022, which will provide insight into its operational performance.
High Tide Inc. (HITI) announced the opening of its 112th retail cannabis location at 8927 82 Avenue, Edmonton, Alberta. This store, part of the Canna Cabana brand, will offer recreational cannabis products and consumption accessories. It marks the company's eighth outlet in Edmonton, strategically situated in a popular, well-trafficked area near local businesses and educational institutions. CEO Raj Grover highlighted the positive demographic profile of Edmonton and announced upcoming e-commerce options for Alberta. The company will report its first quarter financial results on March 17, 2022.
High Tide Inc. (HITI) announces the acquisition of four retail cannabis stores under the Crossroads Cannabis brand in Ontario for CAD $2.5 million. The stores are located in Stratford, Woodstock, Hanover, and Markdale, generating annualized revenue of CAD $7.6 million and EBITDA of CAD $0.7 million for the last quarter of 2021. This acquisition, valued at 3.5x EBITDA, is part of High Tide's strategy to consolidate the market and aims to expand its presence in Ontario, targeting 150 stores by the end of 2022.
High Tide Inc. (Nasdaq: HITI) has launched a new cannabis Delivery on Demand service at select Canna Cabana locations across Canada. Customers can enjoy guaranteed delivery within two hours or select an hourly slot for CAD$9.99, with no minimum purchase required. The initial rollout includes stores in Ontario, Manitoba, and Saskatchewan, with plans for expansion to all locations, including Alberta starting March 8th. This initiative aims to enhance customer experience and compete with the illicit market.
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