Planet 13 Holdings Inc (CSE:PLTH) (OTCQB:PLNHF), a leading vertically integrated Nevada cannabis company, has revealed that it clocked up a record sales day on April 20, 2021 (420), by generating about $543,000 in single-day sales with gross margins during the month in excess of 50%.
April 20, abbreviated 420 or 4/20 in the US, is considered the unofficial marijuana holiday and an occasion for celebrating the smoking of cannabis.
Planet 13's biggest claim to fame is its flagship, uber luxury SuperStore dispensary, the Planet 13 Cannabis Entertainment Complex located not far from the famous Las Vegas Strip. At 112,000 square feet, the SuperStore is the biggest cannabis store in the world, attracting 1 million visitors in 2019.
READ: Planet 13 on growth fast-track with chic Cannabis SuperStore Entertainment Complexes and prized brands
"The demand and acceptance for cannabis is growing across the country, and nowhere is that more evident than in Las Vegas. For tourists returning to Vegas, Planet 13 is synonymous with cannabis and an incredible entertainment experience," Planet 13 co-CEO Larry Scheffler said in a statement.
"The demand is so overwhelming that even with the many improvements we have made to streamline throughput, we still can't capture all of the demand. I'm excited for the relaxing of coronavirus (COVID-19) restrictions on May 1 and our expansion, which doubles our sales floor and points of sale to handle the unprecedented surge in customer traffic."
The SuperStore is a showcase for a growing portfolio of branded products, including vapes, edibles, pre-rolls and concentrates at the top-rated tourist hotspot.
Planet 13 is planning to open a second Las Vegas dispensary, as well as launching the company's first retail location in California.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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