Revenue of $40.7 million for Q2 fiscal 2022, representing a decrease of 6% from $43.3 million in the prior year comparative period, primarily due to increasing competition from new licences issued and pricing pressures in the cannabis retail market. ( 'Fire & Flower' or the 'Company') (TSX: FAF) (OTCQX: FFLWD), today announced its financial and operational results for the fiscal 2022 second quarter ended July 30, 2022.įinancial & Operational Highlights for the Second Quarter Fiscal 2022 13, 2022 /CNW/ - Fire & Flower Holdings Corp. Launch of the Company's 'Get-To-Green' initiative to increase sales and gross profit, and reduce selling, general and administrative expenses with a goal to generate positive Adjusted EBITDA and Free Cash Flow Firebird Delivery™ leverages the Hifyre™ digital platform and Pineapple Express Delivery's logistics capabilities to power fulfillment by the Company's retail network, with same-day delivery windows and new 'Rush Delivery' option for estimated delivery within one hourĪdjusted EBITDA for the second quarter of 2022 was negative $6.0 million, reflecting strategic investments in Spark Perks Member Pricing Program, Hifyre digital platform and launch of Firebird Delivery in the quarter Launch of Firebird Delivery™ marketplace in seven Ontario cities ( Toronto, Kingston, London, Ottawa, Oshawa, Guelph, North Bay). Launch of Spark Perks™ Member Pricing program in mid-May 2022, driving an 18% increase of average annualized sales per store in Q2 2022, compared to Q1 2022, and same store sales increase of 10% in the month of July 2022

Second Quarter Fiscal 2022 and Recent Highlights:Ĭonsolidated revenue for the second quarter of 2022 of $40.7 million, consistent with the previous quarter despite a reduction of nine retail stores during the current quarter, and a decrease of 6% compared to the same quarter last year

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