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The first adult-use cannabis sales in New York began a year ago, on Dec. 29, 2022, nearly 20 months after former Gov. Andrew Cuomo signed recreational marijuana into law.
Following a tumultuous year for the new market, New York could house up to 600 stores based on California’s density, or potentially more than 3,600 stores if it follows Colorado’s model, according to estimations by Pablo Zuanic of Zuanic & Associates.
Housing Works Cannabis, the first licensed adult-use cannabis dispensary and delivery service in the state of New York, on Friday reflected on its successful first year of operations.
“Since opening our doors one year ago, we’ve been operating in somewhat of a pop-up phase, but that hasn’t stopped us from continuing to push our mission forward,” Sasha Nutgent, retail manager of Housing Works said. “I think what differentiates us is our roots in New York City—whether through our MJMondaze event series or the brands we carefully select for our menu—people know what we’re about, and our work across the community.”
In July, Housing Works, located at 750 Broadway, reported selling roughly $12 million in weed during the first six months of operations. In 2023, the Housing Works team also curated a menu of over 1,000 SKUs across 124 brands, with 20 of those being minority-led, resulting in pulling in $24 million in sales.
Trulieve (CSE:TRUL) (OTCQX:TCNNF) announced this week that it is opening two new dispensaries in Crawfordville and Crestview, Florida.
Grand opening celebrations are taking place in Crawfordville on Friday, December 29 and Crestview on Saturday, December 30.
“We are excited to open these dispensaries, providing high-quality products and service for Florida patients in the Big Bend and Panhandle regions,” Kim Rivers, Trulieve’s CEO, said.
In the meantime, cannabis multi-state operator Ascend Wellness Holdings, Inc. (CSE:AAWH) (OTCQX:AAWH) announced the opening of an Ascend Dispensary Outlet, located at 1206 Recker Rd, in Piqua, Ohio. The dispensary will be Ascend’s fourth statewide and 34th across its seven-state footprint.
Cannabis retail giant High Tide (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) opened three new stores in Canada recently.
Earlier this month, the Calgary-based company opened its 160th Canna Cabana branded store nationwide. The store at 11501 Buffalo Run Blvd Tsuut’ina in Alberta is the first Canna Cabana on the Tsuut’ina Nation’s land.
The new dispensary at 457 Hazeldean Road in Kanata kicked off sales this week. Canna Cabana retail cannabis store at 5700 Mavis Road in Mississauga launched cannabis products and consumption accessories on Friday, Dec. 29. These two openings marked High Tide’s 161st and 162nd Canna Cabana branded location in Canada.
“We ended 2022 with a flurry of store openings, and I am thrilled that the close of 2023 is much of the same," Raj Grover, founder and CEO of High Tide, said. “2023 was also a challenging year for many Canadian cannabis retailers, some of whom were forced into CCAA or branched off into other highly regulated markets. Unlike some of these peers, we have remained focused on our core cannabis business while maintaining our focus on operational excellence and retail innovation through our highly successful discount club model catering to over 1.2 million ELITE and Cabana Club members.”
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