Green Growth Brands Significant Revenue Growth Driven by CBD Retail Expansion Total first quarter fiscal 2020 revenues increased 77% quarter-over-quarter to $12.7 million Well-positioned for upcoming holiday season with network of 193 CBD shops
COLUMBUS, OH, Nov. 25, 2019 /PRNewswire/ – Green Growth Brands Inc. (GGB or the Company) (CSE: GGB) (OTCQB: GGBXF) today reported its results for the thirteen-week period ended September 28, 2019. Revenues for the period totaled $12.7M.
“As we approach the holiday shopping season, we are confident in our growth trajectory,” said Peter Horvath, CEO of Green Growth Brands. “We are proud of the topline growth we accomplished in Q1 and are extremely pleased with our current results, which are an indication of future growth. In fact, the four weeks of fiscal November, retail CBD sales were two-thirds of our total CBD sales reported in all of the thirteen weeks of first quarter fiscal 2020, which we are reporting today. This topline growth is reflective of our shift from investing in the foundation of our CBD business to focusing on its execution.
In a very short-time we have grown a meaningful CBD footprint. We believe our products, network of shops, rapidly growing web business and wholesale relationships position us as a leader in the industry. In the coming quarters we look-forward to reporting similar trends and results for our MSO segment of the business.
Peter Horvath, CEO of Green Growth Brands
As we begin to reach scale our consumer and operations expertise will be clearly reflected, not only in the customer experiences we create and the loyalty we drive, but also in our financials as we work towards profitability.
View Seventh Sense’s holiday campaign and holiday gifting assortment here.
GGB will host a conference call and audio webcast with Chief