Connect with us

Business

CV Sciences Inc (OTCMKTS:CVSI) Reports Revenues Of $53.7 Million In 2019: Increases Retail Distribution Footprint To Over 5,500 Stores

Published

on

CV Sciences Inc (OTCMKTS:CVSI) has reported revenues of $53.7 million (up 11%) in 2019. It also increased the retail presence to over 5,500 stores (up 148%) as of December 31, 2020, by enhancing alliances with existing and new retail channels across the nation. E-commerce sales account for 19% of the total sales. The company also expanded its retail footprint in the drug, food, and mass channel. It is also in discussions to expand the PlusCBD oil brand.

CV Sciences laid the foundation and developed infrastructure to support long term growth of CBD products. Despite facing challenges, the company prudently achieved significant progress in 2019. Last year is promising for CV Sciences and the hemp CBD industry. CEO of CV Sciences, Joseph Dowling, said the company focused on strengthening its product offerings, brand, and added new categories to cater to the new opportunities.

Dowling said the company would continue to work with the US FDA to develop innovative products and become a leader in ensuring safety and quality in the industry. He said regulatory clarify from the US FDA would help to ensure quality for the customers and the retailers. CV Sciences would expect to win the race because of its proven track record in maintaining safety, quality, and regulatory compliance. During 2020, CV Sciences is focusing on maintaining economies of scale and drive innovation and improve distribution. The company will realign the financial model to suit the current market environment.

Introduces renovated PlusCBD Oil Website

CV Sciences has unveiled the revamped PlusCBD Oil website in January 2020. It is aimed to improve e-commerce sales and enhance the customer experience. The customers can buy PlusCBD Oil products and enjoy a host of health benefits like restoring the natural balance of the body, quick recovery of muscles and joints, and sound sleep. Your body will receive vitamin E and fatty acids from the full spectrum of hemp products offered by CV Sciences.

The renovated website boasts a fresh look. It makes the journey of users in exploring CBD products convenient and facilitates easy selection. The new website comes with informative blogs and multimedia educational resources to help users understand the health benefits of CBD products.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business3 days ago

Emerald Health Therapeutics Inc. (OTCMKTS:EMHTF) Introduces Pure Sunfarm Products In Manitoba As Its Terminates Facility Agreements

Post Views: 100 Emerald Health Therapeutics Inc. (OTCMKTS:EMHTF) has announced that its cannabis production joint venture Pure Sunfarms has started...

Business4 days ago

Planet 13 Holdings Inc. (OTCMKTS:PLNHF) Signs Purchase Agreement To Acquire 45,000 Sq. ft. Facility In Nevada

Post Views: 189 Planet 13 Holdings Inc. (OTCMKTS:PLNHF) announced the signing of an asset purchase agreement subject to which it...

Business4 days ago

AXIM® Biotechnologies Inc. (OTCMKTS:AXIM) Unveils its NeuCovix™ Test That Can Accurately Classify COVID-19 Neutralization Tests

Post Views: 61 AXIM® Biotechnologies Inc. (OTCMKTS:AXIM) has completed a study focusing on the performance of its NeuCovix™ rapid test...

Business5 days ago

Indus Holdings Inc. (OTCMKTS:INDXF) Terminates Its Pending $20 million Acquisition Agreement Of W Vapes Assets

Post Views: 185 Indus Holdings Inc. (OTCMKTS:INDXF) announced termination of its impending acquisition of W Vapes assets that was announced...

Business5 days ago

1933 Industries Inc. (OTCMKTS:TGIFF) Introduces Pre-roll Joints And Smokable Cannabis Flower In Nevada

Post Views: 165 1933 Industries Inc. (OTCMKTS:TGIFF) announced addition of pre-joint rolls and high-quality smokable flowers to its growing consumer...

Business6 days ago

Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) Initiates Expansion Of Its Cannabinoid Diagnostic Platform Tests In Europe

Post Views: 134 Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) commenced expansion in the European markets to offer cancer patients tailored cannabinoid treatment...