High Tide to soon open its new Canna Cabana location in Kitchener
Cannabis retailer High Tide Inc. announced that its Canna Cabana retail cannabis store located at 1270 Fischer Hallman Road in Kitchener, Ontario will begin to operate on April 16.
This opening brings High Tide's total store count to 195 Canna Cabana branded retail cannabis locations across Canada, and 80 in the province of Ontario.
Positioned in a high-visibility area, this store will serve a market with favourable competitive demographics and strong potential for growth, according to High Tide.
The location of the new store is in a neighbourhood boasts a young, growing population, and the plaza is home to popular tenants such as a national grocery chain and well-known fast-food options. New residential developments nearby also present an opportunity for Canna Cabana to establish itself as the go-to cannabis store in this sprawling neighbourhood, High Tide added.
“Our existing locations in Kitchener continue to outperform the competition, and this new opening comes on the heels of that success,” the company wrote in a press release.
READ: High Tide continues expanding with new location in Ontario
"This latest store opening in Kitchener, Ontario reflects our continued commitment to disciplined growth, even as we navigate an evolving macroeconomic environment. In light of the recently announced tariff actions by the United States, we want to reassure our investors that the vast majority of our revenue is generated from products procured and sold within Canada. As such, we do not anticipate any material impact on our business stemming from these measures. That said, we are actively monitoring the situation and will remain highly nimble in how we allocate capital," said Raj Grover, founder and chief executive officer of High Tide.
"While we continue to see long-term value in our measured bricks-and-mortar expansion, we are also mindful of the importance of maximizing free cash flow in today's uncertain climate,” he added “If needed, we are prepared to temporarily moderate our pace of organic store openings to protect our balance sheet and position High Tide to capitalize on strategic opportunities as they arise. Our focus remains on building a resilient business that can adapt to changing conditions while continuing to deliver value to our shareholders.”
