High Tide Inc Achieves Record Sales on April 20
The TDR Three Key Takeaways regarding High Tide’s Record Revenue
- Record-breaking $1.95 million CAD revenue marks High Tide’s strong sales day.
- Historical sales data underscores High Tide’s growth trajectory on April 20.
- Anticipation builds for High Tide June 12 quarterly earnings report.
High Tide Inc. (NASDAQ: HITI, TSXV: HITI) experienced a significant increase in revenue on 4/20, recording $1.95 million CAD on April 20, substantially higher than its daily average of $1.4 million over the past 12 months. This spike suggests that High Tide could be on track for strong quarterly results when they report on June 12.
The remarkable single-day revenue figure not only demonstrates the company’s ability to generate substantial sales but also aligns with broader industry trends where demand peaks around specific dates. Historically, April 20 has been a significant date for companies in this sector, drawing heightened customer engagement and increased sales volumes.
How does this compare to years past for High Tide? Well, look at a summary of the press release from the year 2020 when High Tide was reporting about the same news.
“CALGARY, April 22, 2020 /CNW/ – High Tide Inc., a retail-focused cannabis company based in Alberta, announced today that it achieved approximately $789,000 in gross revenues from April 18-20, 2020. This represents a 79% increase over the $441,000 earned during the same period in 2019, despite COVID-19 restrictions impacting its physical store operations. Of the total sales, 68% came from High Tide’s 31 branded retail cannabis stores across Canada, and 32% from online accessory sales, mainly on Grasscity.com. “
In 2020, the total reached $789,000 over the three-day weekend, while it was $441,000 during the same period in 2019. This growth to nearly $2,000,000 in one day a few years later highlights substantial expansion. Congrats to High Tide!
As High Tide approaches its quarterly results release on June 12, our coverage will include not only revenue but also other operational metrics critical to the company’s financial health. We will examine profit margins and their impact on net income. In the meantime, the observed sales growth generates optimism for the forthcoming earnings report. Want to keep up to date with all of TDR’s research and news, subscribe to our daily Baked In newsletter.
