Trulieve Cannabis says all stores are open after weather disruptions
The linked customer page carries Oct. 9 closing notices for 13 Florida stores and does not give individual reopening dates.
Theo Marchetti
Florida dispensary operations resumed after severe-weather disruptions, with a company update confirming all stores open on Oct. 11. Trulieve Cannabis Corp. NYSETRLV said in its Oct. 11 company post that all its locations were open.
The reopening statement confirms restored retail operations, but neither the post nor the linked page quantifies lost sales. They give no store-by-store closure durations, estimate of repair costs or assessment of the financial effect of the interruptions.
Trulieve shares closed at US$10.67 on the New York Stock Exchange at 4 p.m. EDT on Oct. 9 NYSETRLV. That close preceded the Oct. 11 reopening announcement.
The company is a U.S. medical cannabis operator with cultivation, processing and retail operations. Its Aug. 7 second-quarter release reported US$271 million in revenue for the quarter ended June 30, with 94 per cent coming from retail sales. Its next scheduled results call is Nov. 5.
We’re happy to share that all Trulieve locations are now open. Our teams are ready to welcome you back. 💚 Learn more: spr.ly/6018BH65yO
Update Page Carries Oct. 9 Closure Notices
The customer update page carries 13 Florida location rows with closing notices dated Oct. 9. It lists a 6 p.m. closing for Crawfordville and a 5 p.m. CT closing for Marianna.
The other 11 entries carry 11 a.m. closing notices for Oct. 9. They cover Crestview, Destin, Ft Walton Beach, Gulf Breeze, Miramar Beach, Niceville, Pace, Panama City, Panama City Beach, Pensacola and Pensacola 9 Mile.
The table lists each store's street address and identifies both Pensacola branches separately.
The table covers a subset of Trulieve's U.S. dispensary network. The company reported operating 207 U.S. retail dispensaries in its Aug. 7 release, a network count that predates the October disruption.
The page is undated and gives no reopening dates for the listed branches. Its closing notices do not establish that every listed branch closed for the same period, or that all branches resumed business simultaneously. The Oct. 11 post supplies the all-open statement separately.
Florida also hosts Curaleaf Holdings, Inc. TSECURA OTCMKTSCURLF, which reported opening its 75th dispensary in the state in its Aug. 5 results release.
Financial Effects Remain Unquantified
Trulieve's second-quarter release reported US$325 million in cash at June 30 and US$53 million in operating cash flow for that quarter. Those figures describe its finances before the October closures and provide no measure of their sales effect.
In a separate Oct. 7 release, Trulieve announced repayment of approximately US$65 million in mortgage notes secured by a Jefferson County, Florida cultivation site. It said the repayment reduced outstanding debt to approximately US$225 million.
Read more: Trulieve Cannabis Corp repays US$65M Florida mortgage before maturity
Trulieve's Oct. 6 notice schedules its third-quarter results call for Nov. 5 at 8:30 a.m. EST, following release of the financial results. Chief executive Kim Rivers and chief financial officer Jan Reese will review the company's financial and operating results.
