Search Results for: By Joe Armes

MJ Research Report: Washington State Rakes In Over $10M In Single Month From Pot Tax

Washington’s hefty 25% excise tax, which is applied to each stage of the supply chain (producers, processors and retailers), has alone resulted in accrued tax obligations of nearly $10.4M due to the state from May.

By Joe Armes WASHINGTON: The legal cannabis industry has been rapidly growing in Washington State since the implementation of recreational sales under I502, and along with them so too have the tax revenues due to the state. Washington’s hefty 25% excise tax, which is applied to each stage of the supply chain (, processors and retailers), has alone resulted Read the full article…

MJ Research Report: Washington’s Average Daily Pot Sales Jump To $1.21M For April

Washington set a new record single day sales with $1.84M in Sales on May 1st.

By Joe Armes WASHINGTON: Legal marijuana sales in Washington State broke the $1M per day mark in April, averaging daily sales of $1.21M.  The expanding commercial market reached this milestone on track with Analytically Correct’s predictions. Here are a few additional key insights from the forecast: Washington set a new record single day sales with $1.84M in Read the full article…

MJ Research Report: Washington State 2015 Legal Pot Sales On Course for $450M

Overall, the market has performed well on a strong, predictable growth trend.  Analytically Correct’s forecast for 2015 was for $350M to $495M in combined producer processor retailer sales and through the first quarter the state in on course for $450M.

By Joe Armes WASHINGTON: After another quarter of legal recreational cannabis sales on the books for Washington State cannabis businesses are still faced with many unknown factors that will impact their businesses in the upcoming months. Legislative changes, surplus inventories and continuation of local bans and moratoriums are a few of the major factors that Read the full article…

MJ Research Report: Washington Recreational Marijuana Sales Grow By More Than 20% In February

Retail sales grew at 22.2% from $12.7M in January to $15.52M February while Producer/Processor sales grew by 16.6% from $5.77M to $6.73M.  Both are great news for producer/processors sitting on surplus inventories left over from last fall’s big harvest and are indicators surplus inventories will continue to burn down over the coming months.

By Joe Armes WASHINGTON: Combined Producer, Processor and Retailer monthly sales in Washington State grew at its fastest rate since November, growing by 20.5% from $18.5M in January to $22.7M in February, a month with 3 fewer days. Retail sales grew at 22.2% from $12.7M in January to $15.52M February while Producer/Processor sales grew by 16.6% Read the full article…

MJ Research Report: Washington State Legal Pot Sales Reach $100M

According to the forecast there is a 95% likelihood that it will take only another 12 to 18 weeks for the industry to quickly rake in another $100M in sales, reaching $200M between the weeks of May 17th and June 28th.

By Joe Armes WASHINGTON: The recreation cannabis industry has surpassed $100M in sales in the first 33 weeks of legal sales in Washington State. Two months into the year the market is on track to hit Analytically Correct’s 2015 forecast published in the MJ Research Report’s Market Outlook. According to the forecast there is a Read the full article…

MJ Research Report: New Retail Stores Continue To Fuel Marijuana Sales Growth

Washington State’s recreational cannabis industry has already inked sales of nearly half of what it recorded in 2014. So far this year combined producer processor sales have totaled nearly $30M compared to just over $65M for 2014. Opening of new retail stores continues to fuel healthy sales growth even with a lingering surplus of cannabis deflating prices.

By Joe Armes WASHINGTON: With less than 7 weeks of recorded sales in 2015, Washington State’s recreational cannabis industry has already inked sales of nearly half of what it recorded in 2014. So far this year combined producer processor sales have totaled nearly $30M compared to just over $65M for 2014. Opening of new retail stores Read the full article…

MJ Research Report: After Slow Start For 2015 Washington Legal Pot Sales Rebound With Record Week

Washington State now has 110 issued retail licenses.  In a couple weeks we will have the details on how many of these stores have opened for business.

By Joe Armes WASHINGTON:  After a record sales day with over $1.2M in sales on New Year’s Eve the beginning of 2015 seemed to have been off to a sluggish start for recreational cannabis sales in Washington State.  That was until last week when sales growth perked up with a new record sales week with Read the full article…

MJ Research Report: Washington State 2015 Legal Pot Sales Outlook: $350M To $495M

Utilizing the 25 weeks of sales data we have from 2014, Analytically Correct has modeled Washington State’s legal recreational cannabis sales for 2015.

By Joe Armes Washington: 2014 was a groundbreaking year for legal recreational cannabis in Washington State.  The year was about setting the groundwork for the future with opening of the first recreational cannabis businesses and establishing a steady supply for the market. While the Washington State Liquor Control Board (LCB) won’t have the complete December Read the full article…

MJ Research Report: Washington Hits First $1M Day for Legal, Recreational Cannabis Sales

The two weeks with most sales occurred in November.  The week of November 2nd (includes the 6th) is the largest sales week so far with over $4M in sales and the week of November 23rd is the 2nd largest with over $3.6M in sales.

By Joe Armes WASHINGTON: On Wednesday, November 26th the state of Washington achieved a milestone the industry has been anticipating for months; the first time single-day recreational cannabis transactions (producer, processor and retail sales) broke the one million dollar barrier.  Given this milestone was achieved with 75 retail stores in operation, we can anticipate that Read the full article…

MJ Research Report: Washington Surpasses $40M In Recreational Marijuana Transactions

We are providing the MJ Research Report as an industry resource for business intelligence.   The report will cover analysis of key issues, events, trends and will provide critical insights for businesses in this new markeplace.

By Joe Armes WASHINGTON: The Marijuana Business Association (MJBA) and Analytically Correct are pleased to announce the release of the first MJ Research Report and business intelligence dashboard on the eve of the cannabis industry event: The Dollars and Sense of Risk & Financial Management. We are providing the MJ Research Report as an industry resource Read the full article…