Aurora Cannabis mentioned Tuesday that it plans to close another one at each of its facilities, while laying off roughly eight percent of the company's workforce. The company said its Aurora Polaris property in Edmonton will likely be closed in an organization-wide effort to become a more agile organization. Medical distribution merchandise could move to a nearby facility, while manufacturing will move to a facility in Ontario. The power outage comes after an earlier announcement by Aurora showing it was deliberating shutting down five of its cannabis production facilities as the company tried to align its operations with Canadian supply and demand dynamics. Aurora did not immediately release the specific number of workers affected by the layoffs. The company employed 2,380 employees in September 2020, the latest employee count disclosure. Aurora recently pushed forward the release of its fourth-quarter earnings from Tuesday to the September amendment to allow the U.S. Laws that would allow federally regulated monetary establishments to interact with the U.S. defense spending bill.., Which was delivered by the USA.
Couche-Tard could be one of the US One Bay Road analysts who believe that one of Canada's largest firms is poised to pursue itself as one of the largest cannabis retailers within the US. Couche-Tard Inc. could find out selling cannabis in its more than 7,100 US capitals Graeme Kreindler, an analyst for eight US capitals In a report to buyers this week, Kreindler stated that once the US Couche-Tard was out of stock. You could generate up to $ 4.5 billion in gross sales if you set aside an area in your Circle-K stores for licensed cannabis merchandise. Comfort stores already account for 85 percent of tobacco sales and half of all gross alcohol sales in the US, so cannabis is a logical addition to that particular retail model. Kreindler said in an interview. While the report casts a long-term view speculating how Couche-Tard could benefit from the US legal 10 years, the large convenience store already plays in the cannabis arena. It has a sizable minority stake in leading Canadian cannabis retailer Hearth and Flower Holdings Inc., which has already licensed its brand for a California dispensary and will take a majority stake in the retailer if its workout routines have excellent guarantees to do so.
Eight Capital expects Couche-Tard to see its earnings per share improve by about 24 percent once it hits the US. 2030 and reach around $ 92 billion. The retail sale of cannabis represents an EBITDA opportunity that is projected to be between two instances and eight times greater than the growth plans identified in advance by management. The company already sells alcohol and tobacco products, so it already has experience operating in regulated industries, Kreindler said. You could see some erosion in sales of those goods if cannabis is legalized, with a recent post in the National Tax Journal predicting a 15 percent drop in demand for alcohol and a 5 percent decline in cigarette sales. if the drug is deprogrammed at the federal level. But cannabis can help make up for that lost ground because the drug generates retail sales that are 2.5 cases and seven times higher than tobacco and alcohol, respectively, Kreindler notes. While convenience store owners like Couche-Tard may take a leading position in cannabis retailing, don't rely on the larger dispensaries just yet.
In effect, the applicants claim that this creates a regime in which the licensed market for cannabis appears to assist illicit operators rather than replace them. The lawsuit also alleges that state authorities are aware of what is happening but are doing little to stop it. The California Division of Cannabis Management declined to comment on pending litigation, according to MJBizDaily. Italians will quickly go to the polls to vote on a referendum that could legalize the sale of recreational cannabis next year in the European nation, according to Reuters studies. Referendum supporters have already won more than 500. 000 signatures, securing the vote that would pave the way for a decriminalization vote. One pollster mentioned that 57 percent of Italians would support such a transfer, creating probably the most liberal European international locations on cannabis policy, Reuters reports. Taxing legal cannabis would add up to six billion euros to Italy's treasury a year and add 35,000 new jobs, according to at least one researcher. CIBC analyst John Zamparo cut 12-month value targets at seven Canadian-based cannabis companies in a note to buyers on Thursday, noting that profitability remains elusive for that group. In addition, CIBC also lowered its fiscal 2022 gross sales forecast for Canopy Growth and Tilray. CANNABIS SPOT Price: $ 5.12 per gram – This week's value is up 0.4% from the prior week, in response to Canada's Cannabis Benchmark Cannabis Spot Index. This equates to US $ 1,823 per pound at current alternative rates. WEEKLY BUZZ: $ 4.066 billion – The annual execution fee for Canadian cannabis sales as of July, in line with Statistics Canada. This is the first time that the execution fee has exceeded the $ 4 billion mark.
MedMen Enterprises Inc. Governance Director Tom Lynch said he still expects cannabis users to flock to major marijuana stores, given their larger selection of products and trained staff. Canadians bought $ 338.9 million worth of cannabis in July, hitting a new month-over-month report and beating the $ 4 billion annual execution rate for the first time, according to Statistics Canada. While Canadian comprehensive retail gross sales fell for the month as a result of lower grocery spending, gross cannabis sales bucked the trend and all provinces and cities reported monthly beneficial properties in July. Gross retail sales of cannabis increased 6.2% in July compared to June, rising 45% annually and increasing at a rate of 2-8% per day. Cannabis sales in Ontario, which was the only province thatdoubled gross sales over the past year, leading the country with $ 126.7 million in marijuana offered in July, a 5.5 percent increase from June. Several analysts point out that Hifyre projects August cannabis sales to hit nearly $ 350 million, which would mean an acquisition of about 2 percent.