Green Growth Brands (CSE: GGB) announced today that the firm has opened its 150th Seventh Sense CBD mall kiosk, marking an impressive run rate for the operation. The first kiosk for the brand was opened in February.
While the amount of Seventh Sense locations across the US has increased rapidly, the firm has indicated that it has no intention on slowing down as of yet. Green Growth stated that it is on a trajectory to have close to 200 shops open by the start of the holiday shopping season this fall, although a hard deadline was not stated. Seventh Sense locations are currently spread across 35 US states.
While hard data in terms of sales was not released by Green Growth attributed to its Seventh Sense brand, during the last reporting period the firm recognized revenues of $0.46 million attributable to its CBD operations. However, this was for the three month period ended March 31, and at the time Green Growth had only six Seventh Sense shops in operations.
The firm is expected to release financial figures for the year ended June 30, 2019 later this month, with the conference call scheduled for October 24. At this time a better understanding of the CBD operations will be provided by the firm.
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Green Growth Brands closed yesterdays session at $1.30.
Information for this briefing was found via Sedar and Green Growth Brands. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
