Returned Product a Hidden Challenge for Cannabis Companies
Soon after cannabis products started flying off shelves following legalization, Canopy Growth Corp. had a $26.9 million problem.
The Smiths Falls, Ont.-based company told investors and analysts during a November conference call to discuss its financial results that it was grappling with $20.5 million worth of product being returned from provincial retailers and bracing itself for another $6.4 million worth that was on the way.
In the previous quarter it had taken an $8-million writedown for unsold oil and gel caps.
– Read the entire article at CTV News.