CLS Holdings USA Inc. (OTCQB: CLSH) (CSE: CLSH), the ”Company” or ”CLS”, a diversified cannabis company operating as Cannabis Life Sciences, today highlighted its financial and operational results for the 4/20 weekend in Las Vegas, NV. The term “420” began as a counterculture code for consuming cannabis and eventually evolved into the legal industry’s unofficial holiday celebrating the end of cannabis prohibition. CLS Holdings USA, Inc (CNW Group/CLS Holdings USA Inc)CLS Holding’s Oasis dispensary saw record 4/20 weekend sales of $104,454.00 up 60% from last year’s results of Alternative Solutions, LLC
The dispensary serviced a record 924 customers on April 20, 2019
Revenue on April 20, 2019 of $46,000.00 vs Revenue on April 20, 2018 of Alternative Solutions, LLC of $30,000.00
Gross margin over the three days increased from 40% for Alternative Solutions, LLC in 2018 to 50% in 2019
Customer Count over this time period increased from 1,295 in 2018 to 2,147 in 2019
CLS’ Oasis Cannabis Dispensary generated revenues of $104,454 during the 3-day period, which is an improvement of 59.7% over the revenues of Alternative Solutions, LLC, which was a privately held company during the comparable 3-day period of the previous year. The Oasis Cannabis Dispensary, located in Las Vegas, Nevada, recently completed a renovation and grand reopening, just in time for the 4/20 “holiday.” This allowed the dispensary to accommodate more customers without significantly impacting wait times. The medical and retail cannabis store in Las Vegas serviced 924 customers on April 20th, 2019, a new record that surpassed even the number of customers on July 1, 2017, the day legal cannabis sales began in Nevada.
Gross Margin also improved by 25% compared with the previous year’s results for Alternative Solutions, LLC. CLS attributes this gain to improved purchasing power and the implementation of strategic supply chain management. “The company has been working to solidify supplier relationships and leverage its purchasing power to provide great value for our customers while boosting the bottom line at the same time,” said Andrew Glashow, President, and COO