Canopy CEO Sees ‘Clear Path’ to Canada Profit; Shares Tumble
- Pot producer pivots overall strategy toward premium brands
- Klein sees prospects for west-coast brands in eastern markets
Photographer: James MacDonald/Bloomberg
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Canopy Growth Corp. has “a clear path to profitability in Canada” as it shifts toward premium brands, Chief Executive Officer David Klein said after the company reported fiscal fourth-quarter results that missed expectations.
“We took actions in the quarter to reduce costs so that we can get to that profitability number,” Klein said Friday in an interview on BNN Bloomberg Television. “When I position our company strategy, it really is to be that North American cannabis player that’s brand-led and premium-focused.”