Even though the price of an 1/8th ounce of recreational cannabis in Colorado has dropped from $50-$70 to $30-$45 in the last year, revenue is up, because the number of visitors to stores has greatly increased.
A quick look at the latest available state tax data from the Colorado Department of Revenue show these stores in the aggregate beat its 2014 comps from January through April. For example, the state grossed $3.55 million in revenues from the 10% retail sales tax in January, which suggests stores earned $35.5 million in revenue. That’s a 153% increase from the prior year. Revenues in February and March grew by 164% and 126% on the year respectively, while sales rose by 98% y/y to $43.9 million in April. If we use the average of revenues for the first four months of this year – about $40 million – as our monthly run rate for the balance of 2015, total revenues for 2015 could reach $480 million. That would mark a +50% comp to last year’s revenues of $313 million for recreational marijuana sales.
While recreational marijuana was legalized in Illinois on January 1, it is still illegal under federal law. So just a few weeks back, authorities installed “Cannabis Amnesty Boxes” at Chicago airports for travelers to drop their grass before flying. But last week, someone arriving at Chicago’s Midway helped themselves to the stash. From the New […]
Los Angeles’s Cannabis Cafe is the first restaurant in the United States that encourages its patrons to smoke weed inside. They sell cannabis products (including pre-packaged edibles) but none of the items on the menu are prepared with it. Based on Dave Holmes’s review in Esquire, quoted below, the Cannabis Cafe is certainly a high […]
“Volume decline accelerated in 2019, down 3% through November.” The new availability of a wide array of legal marijuana products has is beginning to take a bite out of beer consumption in Canada, reports Bloomberg News.
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There’s overwhelming support for clean energy, and the planet is giving us more reasons to invest in renewable power sources with every passing year. Even in the most inhospitable areas, wind and solar can provide a good chunk of our power, if not all of it. So why aren’t we all taking advantage of it? […]