Cresco Labs Lowers Q4 Revenue Guidance As It Shifts To Owned-Brand Distribution In CA

Multistate operator Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) reported Thursday it will exit agreements under which it has served as the exclusive distributor of certain third-party branded products in . It will, however, continue to work with a small group of leading brands in the Golden State.  

The Chicago-based company noted that this move is the latest step in its multi-year strategy to boost profitability and shift toward owned-brand distribution.

This decision is expected to lower the company’s projected sales in the fourth quarter, which is why the company is adjusting its previous Q4 2021 revenue guidance …

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