Planet 13 Holdings Inc (CSE:PLTH, OTCQX:PLNHF). has reported $11.9 million in sales during July.
During the first month of operations the company's new Orange County store generated around $800,000 in sales, while gross margin for the company during the month was in excess of 50%.
READ: Planet 13 Holdings adds Moxie as third store-in-store in its new Orange County SuperStore
"Based on the early results we've seen from the Orange County store we are confident in the trajectory of sales and the quality of service and product we are providing. Sales have grown week over week as we start to gain traction as one of the top dispensaries in Orange County," said Bob Groesbeck, co-CEO of Planet 13 in a statement.
"Looking back at the early days of Planet 13 Las Vegas is a good reminder that it takes time to build customer trust and awareness. We took that dispensary from generating around $3 million a month to now north of $9 million with gross margins above 50%, all by focusing on the customer and continuing to refine and improve the experience and product selection. We look forward to continuing to update our shareholders and fans as our Orange County location grows to its full potential," Groesbeck added.
On July 7, Planet 13 announced that it had added Moxie as the third store-in-store in its new Orange County SuperStore.
The Orange County SuperStore in California opened on July 1. The other two store-in-store operations are Select and STIIIZY.
Planet 13 is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations in Las Vegas and dispensary operations in Orange County.
The company's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products.
Contact the author at jon.hopkins@proactiveinvestors.com