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Monday, August 08, 2022 11:42:19 PM
Curaleaf is choosing to protect their margins and limiting their exposure in California and Colorado. They claim that they will be increasing their Select Brand in Colorado the second half of the year...but these were their words on California and Colorado during their earnings call:
BORIS -- An example of actions we have taken to improve our profitability improved rationalizing low margin states such as California and Colorado. While having a presence in these markets is critical to long-term brand building, we see no need to participate in rational pricing behavior and prefer to preserve cash and wait for these markets to complete their natural rebalancing.
Meanwhile, speaking about 'rational pricing behavior', Curaleaf is literally initiating a pricing war in Florida in an attempt to steal market share from Trulieve
DARIN -- On the wholesale side, we're focused on growing profitable market share in our core states and improving margins. This is coming as small cost to top line as we saw a 2% reduction in revenue during the quarter, largely as a result of continued price rationalization in California and Colorado.
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