CLS Holdings USA Inc (CLSH): CLS Holdings reports stable monthly reve...

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Tuesday, 07/14/2020 9:58:41 AM

Tuesday, July 14, 2020 9:58:41 AM

CLS Holdings reports stable monthly revenue

In its May and June 2020 financial and operational results, CLS Holdings USA (OTCQB:CLSH) reported net revenues of $1.01M and $1.10M respectively.

Amid challenging economic conditions, June's net revenue increased 5% Y/Y with a gross margin of 51.96% and increasing orders from its wholesale and branded products division, City Trees customer base.

The company expects City Trees revenues to return to pre-Covid levels soon.

In the past 3-months with a 40% reduction in operating hours, CLS' Oasis retail subsidiary managed a consistent increase in average dollar amount per transaction of 35%.

With in-store dispensary sales resuming on May 9, CLS implemented fully functioning curbside pickup and in-store services amid rising demand.

CLS plans to launch a new product line featuring environmentally-friendly packaging this summer.

https://www.clsholdingsinc.com/news-media/press-releases/detail/112/cls-holdings-announces-april-may-and-june-financial

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