Fire & Flower announced second-quarter 2020 financial results showed that quarterly revenue was up 158% to $28.6 million. According to financial reports, the company generated revenue of $28.6 million including sales of $23.4 million in the Retail channel, $4.3 million in the Distribution channel, and sales of $0.9 million in the Digital Retail and Analytics channel. Furthermore, for the thirteen weeks ended August 1, 2020, the Company recorded a net comprehensive loss of $29.1 million, or net loss per share, and on a fully diluted basis of $0.18. However, on the retail front, Fire and Flower saw an increase of $13.7 million from the prior year and $4.9 million from the previous quarter. Company officials contribute the revenue increase to the company’s recent strategic efforts to improve product assortment by a better understanding of its customers and their product preferences in each local market.
Published Ncv Newswire, New Cannabis Ventures, 09/15/2020 06:59:43
Open article: https://www.newcannabisventures.com/canadian-retailer-fire-flower-q2-revenue-increases-24-sequentially-to-28-6-million/