Along with storing cannabis and accouterments like pipes and rolling papers, a proper stash box has a lock, too, to keep it safely away from kids and pets.

After attending the Business of Cannabis Conference in New York, where there was much to learn for budding retail cannabis entrepreneurs and industry veterans alike, we left with a bunch of useful tidbits.

So here’s a stash box of insights we scored at the conference:

New Yorkers consume a lot of cannabis

In New York, a law legalizing the sale of cannabis in retail stores for recreational consumption didn’t pass until 2021. But New Yorkers had already been partaking for generations when they bought it from dealers like The Guy.

“New York has been arguably the capital of cannabis consumption for decades,” David Hess, president and co-founder of Tress Capital, which invests in cannabis companies, said during a panel. “The community is here, the consumers are here, and the brands are here, and this is something we’re excited to get behind.”

New York City consumes more cannabis than any other city in the world, about 62.3 metric tons annually, according to data from the Center for Advancing Health.

Keep reading here.—AAN

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In its first earnings call since going public in September, Instacart reported earnings that beat expectations, as chair and CEO Fidji Simo discussed its advantages in the competitive grocery delivery market and the growth of its advertising business.

The company’s total revenue in the third quarter was up 14% year over year to $764 million, made up by $542 million in transaction revenue and $222 million from advertising and other revenue. Its gross transaction value (GTV) rose 6% YoY to $7.5 billion. The company reported a net loss of $2 billion, but said it currently has $2.2 billion in cash.

Instacart, which partners with 1,400+ retail banners across more than 80,000 store locations, said it completed 265 million orders over the last 12 months, with average consumer spend of more than $100 per order, “which is a key element to unlocking profitable unit economics,” Simo said.

Keep reading here.—EC

Welcome back, everyone. We have a bit of a special edition this week because there are so, so many earnings calls right ahead of the very important holiday shopping season. Let’s dive right in.

Macy’s: Macy’s Q3 earnings report goes live this Thursday. CEO Jeff Gennette said in August that consumers were facing economic constraints, as evidenced by higher credit card balances and the return of student loan repayments.

The Home Depot: The home improvement retailer reports Q3 earnings Tuesday, and is coming off one of its best quarters in recent memory, albeit with some caveats. It was the first quarter in the last three in which the company beat Wall Street’s expectations, but the retailer also tempered its yearly outlook in anticipation of a YoY drop in sales, largely due to consumers shying away from big-ticket items.

Keep reading here.—KM

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