Good news for pot shops: Another sales record broken
Tuesday has been full of great news for Clark County pot shops.
Figures released by the Washington State Liquor Control Board show that the state’s recreational marijuana stores broke yet another sales record last Friday. The bar was already pretty high at nearly $1.88 million in sales for May 29, another Friday. Then, the market obliterated that record on June 12, as pot shops racked up about $1.93 million in sales.
Breaking sales records is nothing new for the young industry. It’s been happening month over month, and often from one weekend to the next for quite some time now.
Average daily sales continue to climb, as well, though they’re not increasing as fast as they did a couple months ago. Last month, average daily sales came in around $1.33 million. So far, sales have hovered above $1.36 million for June, the highest we’ve seen yet.
At this point, the state has licensed 168 pot shops. The figures come from the 155 regularly reporting their earnings to the LCB.
As for which stores are leading the pack in sales this month, well… those numbers aren’t available yet. Bummer, I know.
But you’d be wise to bet that Main Street Marijuana and New Vansterdam are at least somewhere near the top. New Vansterdam has been the highest grossing store in the state since last July, and Main Street Marijuana has ranked No. 1 for the past three months.
This July should be the most interesting month for the industry in quite a while. On July 1, possession becomes legal in Oregon but stores won’t open down there for another 15 months or so. Meanwhile, Vancouver’s biggest pot shops are preparing some big celebrations for their one-year anniversaries.
And now for the other good news for pot shops. The state released its list of compliance violations today from the recent sting operation this spring. The data shows none of Clark County’s seven pot shops broke the rules.
The sting resulted in a long list of fines for all kinds of smaller no-nos, like improper record keeping, labeling or sloppy packaging. Four stores actually lost their licenses for more serious violations.
The state plans to do stings at all of Washington’s pot shops by the end of June. In the first round, four of 22 shops were caught selling to minors. Yikes.
Selling to minors doesn’t necessarily mean a store would lose its license, though. Instead, they could be slapped with a $2,500 fine or have their license suspended for 10 days.
– Justin Runquist