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Replies to post #3777 on Chalice Brands Ltd (CHALF)
“Management believes that GLH is substantially undervalued compared to its peers. We have demonstrated the ability to achieve significant growth while navigating the COVID-19 crisis, and its impact on the market as well as our partners in each jurisdiction,” stated Jeff Yapp, Chief Executive Officer of GLH.
Record quarterly revenues from continuing operations of $5.5M, an increase of 40% compared to the second quarter of 2019 and 16% greater than the first quarter of 2020. This increase was led by record second quarter Chalice Farms retail revenues of $3.7M.
Retail growth was driven by an increase in total tickets of 16% and average ticket size of 16% compared to the second quarter of 2019.
Record year to date revenues from continuing operations of $10.2M, an increase of 40% compared to the first half of 2019, driven by Chalice Farms retail revenues and Oregon wholesale revenues.
Same store sales growth in the Chalice Farms network of 34% versus the three months ended June 30, 2019 and 25% for the six months ended June 30, 2020.
Oregon wholesale revenues up 96% year over year driven by improved supply chain and forecasting resulting in stabilization of inventory levels.
Lowest quarterly cash used in operations in Company history of $137,000.
