Below is a brief excerpt from a complementary research note written by our Cannabis analysts Howard Penney and Daniel Biolsi. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more.
In September, adult-use sales grew 5.8% sequentially to $67.6 million, with in-state resident sales growing 6.5% MoM and out-of-state resident sales growing 3.7% MoM.
YTD, adult-use sales alone total $364.1 million, while September’s sales represent $767.6 million on an annualized basis.
Earlier in September, Cresco Labs announced the approval and location of its tenth Illinois dispensary in Naperville under its national retail brand Sunnyside. Their dispensary will be located in one of the busiest shopping areas in Naperville, the 3rd largest city in Illinois, with approximately 150,000 residents.
Upon final approval from the State of Illinois for the Naperville location, Cresco will operate the maximum allowed ten dispensaries in Illinois.
However, Green Thumb is beating Cresco to the punch and is slated to open its own dispensary under its national retail brand Rise in Naperville on October 8th. The grand opening will include a ribbon cutting ceremony with Naperville Mayor Steve Chirico.
Rise Naperville is the eighth Green Thumb store to offer adult-use cannabis in Illinois, and the company has licenses to open two more stores in the state.
In August, combined medical-use and adult-use retail sales in Illinois hit $95.5 million, equating to roughly $1.15 billion in sales on an annualized basis and $599 million YTD through August.