SHWZ - Schwazze's Q1 2024 Financial Results: Takes A Hit In Colorado Overall Cannabis Sales Up By 9% | Benzinga
Medicine Man Technologies, Inc., operating as Schwazze (OTC: SHWZ), announced its financial results for the first quarter ended March 31, 2024.
Schwazze's interim CEO, Forrest Hoffmaster, commented on the results. "We delivered another period of revenue growth in Q1 as we further refined our retail strategy while contending with the prolonged competitive challenges in Colorado and New Mexico."
Operational And Strategic Developments
Schwazze has focused on enhancing its retail and wholesale strategies, including pricing, promotions and improving the in-store experience. The company reported that its Colorado sales were down 10% year-over-year due to lower volumes, but overall sales were up 9%, outperforming the market.
In New Mexico, despite the rapid increase in store counts, the company concentrated on high-quality products and customer experience, leading to strong performance.
"Over the past four years we have rapidly ...