Trulieve Cannabis Corp.’s (TCNNF) CEO Kim Rivers on Q4 2019 Results – Earnings Call Transcript

  • versus post-COVID environment starting week ended March 13th, Florida’s weekly average demand increased by approximately 17% in oil and 37% in flower compared to the weekly average leading up to COVID.
  • We are not only the largest cannabis employer in the state and Gaston County, Florida’s largest employer in general, but with our current headcount of over 3,000 employees in the U.S. as of the end of Q1, we believe that makes us the largest MSO employer in the country and our team continues to outperform as Trulieve is currently enjoying a solid market share with 19% of the Florida dispensaries generating approximately 50% of their market share.
  • In 2020, we will plan to continually opening open stores in strategic locations where we can either service a high rate of deliveries, answer the call a patient requests and populations or secure solid locations ahead of the expected recreational market in 2022.
  • This is based on days open for our full year revenue and our total retail square footage as of the end of December 2019, comparatively this retail metric puts Trulieve in line with other world class retailers.
  • The increase in costs in this expense category from Q3 to Q4 was primarily due to payroll costs related to seven additional stores that were opened in the fourth quarter, plus costs related to preparing for new store openings for the fourth quarter of — for the first quarter of 2020.

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