Latest news with #IrwinSimon
Yahoo
29-05-2025
- Business
- Yahoo
Tilray Brands to Present at TD Cowen's 9th Annual Future of the Consumer Conference
NEW YORK and LEAMINGTON, Ontario, May 29, 2025 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ('Tilray') (NASDAQ: TLRY and TSX: TLRY), a global lifestyle and consumer packaged goods company at the forefront of the beverage, cannabis and wellness industries, today announced that Irwin D. Simon, Chairman and Chief Executive Officer, and Carl Merton, Chief Financial Officer, will participate in a fireside chat and host one-on-one meetings at the TD Cowen 9th Annual Future of the Consumer Conference on June 3, 2025, in New York, NY. The fireside chat is scheduled for 11:00 a.m. ET and a webcast will be available on Events & Presentations section of Tilray's Investor Relations website. To schedule a one-on-one meeting, please reach out to your TD Cowen representative. About Tilray Brands Tilray Brands, Inc. ('Tilray') (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray's mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray's unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages. For more information on how we are elevating lives through moments of connection, visit and follow @Tilray on all social platforms. Contacts: Investor Relationsinvestors@ Medianews@ in to access your portfolio
CBC
18-05-2025
- Sport
- CBC
Cape Breton Eagles get an early start on search for new head coach
Social Sharing The Cape Breton Eagles say they are not worried about next season after the Quebec Maritimes Junior Hockey League team lost its fourth head coach in the past six seasons. They've already received more than 20 resumés and some of the applicants have plenty of experience. Head coach Louis Robitaille quit on Monday after 14 seasons in the QMJHL — the last two with the Eagles — to take a job with the Omskie Krylia in Russia. Eagles owner Irwin Simon said others left due to the pandemic or for family or other reasons. "Some of it is … just timing, bad luck, personal reasons, but it's not like every coach that came here we fired and they didn't want to be here," he said Thursday, following a live Facebook update for the community and fans. "I think if you put those four or five together, we never had 20 applicants altogether for any of those, so it shows you how people believe in Cape Breton and the Eagles today, which is great to see, and this is only our second [or] third day into it." General manager Sylvain Couturier said at least one applicant has experience in the American Hockey League and the National Hockey League. "Having that many people that want to come here, and the quality of the people that want to come here, gives me the confidence ... that we're going to get the right one and we're going to have a good one, too." The league draft is June 4-5, but Couturier said he's in no rush to hire a new head coach before then. Both he and Simon wished Robitaille the best in his new role, calling it a step up. Earlier this week, Robitaille told CBC's Mainstreet Cape Breton he is moving to Russia this summer, but his family will stay behind in Cape Breton. Robitaille said it will require a number of adjustments, not only because of the language, but he's leaving behind a youth developmental league to coach in the professional ranks. There will be some culture shock, but he said he's looking forward to it. Omsk is "right in the middle of Russia, in Siberia," Robitaille said. Cape Breton Eagles seek new head coach 3 days ago Duration 1:46 Louis Robitaille is leaving for a position in Russia. As Anna Rak reports, management is looking for someone to win and connect with the community. "It's the fourth biggest city in Russia, but it's in the middle of the country, right above Kazakhstan, but like I said it's a big city with a lot of culture." Omskie Krylia is in the All-Russian Hockey League, which is the feeder for the Kontinental Hockey League, the highest league in that country. The league is "basically the American [Hockey] League over there," Robitaille said. "It's a pro league and … my role will consist not only to be with that team, but I will be part of the KHL team, which is the NHL of Russia." Robitaille was hired in the summer of 2023 and coached the Eagles to a record of 72-49-5-5. The Eagles ended the 2025 season ninth in the 18-team league with a record of 34-23-4-3. They were eliminated in the first round of the playoffs. Couturier said he has a core of good players returning next season and he hopes to have a new head coach by July 1. Simon said he was disappointed with last season, but the franchise is solid, making it an attractive place for a head coach to land. Team seeks arena improvements In the meantime, Simon was meeting this week with officials from the Cape Breton Regional Municipality to pitch the need for arena improvements. It was built nearly 40 years ago and needs new seats and improvements to the concession area, entrances, dressing rooms and training centre, Simon said. The team brings up to $8 million into the local economy every year, but the arena needs upgrades not just for hockey, he said. "Centre 200 should be about athletics, arts, bringing community together, doing things here and I think as a building, it ultimately needs a facelift," Simon said. CBRM Mayor Cecil Clarke has said Centre 200 is one of several major projects that need funding and he expects it'll be on a list of priorities for council to discuss this fall.
CTV News
18-05-2025
- Business
- CTV News
Cape Breton Eagles seek fifth new head coach in six years
Left to right - Irwin Simon (majority owner, Cape Breton Eagles), Sylvain Couturier (general manager) and John Hanna (assistant general manager) are pictured at a table during a news conference at Sydney's Centre 200.
Forbes
04-05-2025
- Business
- Forbes
Why One-Time Cannabis Darling Tilray Is Now High On Beer
In July 2018, Tilray, the Canadian-based cannabis company, went public on the Nasdaq, becoming one of the first weed firms to list on a big U.S. exchange. On its first day of trading, shares jumped 35% and Tilray became the first beloved pot stock. A few months later, Tilray hit $214 per share, valuing the startup—which had $27.5 million in revenue at the time—at $17 billion, an all-time high. But shares have been in a painful decline ever since. After seven years of no meaningful movement at the federal level to legalize marijuana in America and brutal competition in Canada's small cannabis market, Tilray's stock price has now dropped below $1, recently trading at 49 cents. Last month, the Nasdaq sent the company a warning that it could be delisted. Irwin Simon, who became CEO of Tilray in 2021 after the company merged with another Canadian cannabis company Aphria, which he was CEO of at the time, is well aware that his company's stock price is in the toilet—and he believes he has a plan to fix it. Simon, who oversaw Tilray's acquisition of more than a dozen craft beer and spirits brands over the last few years, says he is 'not nervous' about getting delisted because he expects shareholders to approve a reverse stock split in July, which would bring the share price over a $1 again. 'We've got great brands, great businesses, a good balance sheet, a real good organization, but yeah, I got a shitty stock price,' Simon says while sitting in his corner office in Midtown Manhattan. 'The good news is that there's optionality. And we're certainly not the ugliest cannabis company, certainly not the ugliest beer company out there. I'm trying to figure out, with the strategy we have in place, what other opportunities there for us.' Simon Says: 'Cannabis does ultimately cannibalize alcohol sales,' says Tilray CEO Irwin Simon. 'If I get cannibalized on one end, I want to be in the business that's cannibalizing.' TILRAY Simon, who founded Hain Celestial Group in 1993, an organic food company he took public and grew into a $3 billion (annual sales) business, oversaw the merger of Aphria and Tilray four years ago. The deal, which valued the combined company at nearly $4 billion, was structured as a reverse acquisition of Tilray—each Aphria shareholder received approximately 0.8 Tilray shares, worth $6.20 at the time, for each Aphria share they owned. Despite its market woes, Tilray remains one of the biggest cannabis producers in the world, growing about 170 metric tons of marijuana each year, which is sold across 20 countries from Canada to Europe to Australia. (It cannot sell marijuana in the U.S. due to federal law.). After acquiring eight craft beer companies from Anheuser-Busch and four from Molson Coors, it is also now the fourth largest craft brewer in the U.S. with regional brands that include New York's Montauk Brewing, Georgia's SweetWater and Colorado's Breckenridge Brewery. (Tilray also owns Colorado-based blended bourbon whiskey maker Breckenridge Distillery.) Overall revenues were $788 million last year but Tilray somehow managed to lose $222 million. Although the company is losing heaps of money, it has $230 million in cash and has trimmed its losses from a staggering $1.4 billion in 2023. Thanks to Simon's string of acquisitions, a strategy he says is due to his fear of being a 'one-trick pony,' Tilray is no longer just a cannabis company. He cringes at the word 'weed' and points to Tilray's $80 million (annual sales) medical marijuana business. (Tilray sells a total of $275 million of cannabis when recreational sales in included.) He wants investors to believe that the brand, which derives 60% of its revenue from selling cannabis and beer, is really a diversified pharmaceutical and consumer packaged goods company with a focus on 'bringing people together for a good time.' Suds and Buds: Tilray, the biggest cannabis producer in Canada, is now the fourth-largest craft brewer in the United States. And its hemp-derived THC drinks, which launched in the U.S. last year, are expected to be a lucrative new revenue stream. Tilray Last year, 35% Tilray's revenue came from marijuana while 25% came from its alcohol division. Tilray also operates a pharmaceutical distribution business in Europe, which delivers its medical cannabis as well as other medications to pharmacies and is responsible for 33% of its revenue. The company's wellness division features hemp-based food brands like Manitoba Harvest and brings in about 7% of the company's revenue. The company has suffered in part because the Canadian cannabis market is small—$4 billion in annual sales, tiny compared to the $32 billion legal market in the U.S.—and is saturated with competitors and hampered by high taxes. Tilray is the biggest operator in Canada by revenue, but it only has an about 10% market share. With too many companies producing too much cannabis, prices have cratered and margins have been vaporized. Another factor is that federal cannabis reform has stalled in the U.S., which for Tilray and other Canadian operators has been devastating. The plan has always been to expand into the U.S. market, but it can't until the federal government changes the marijuana laws. 'I can't sell [cannabis] in the U.S. market today, and that bothers the hell out of me,' says Simon. While it is easy to write off Tilray as a bad company, some industry insiders believe it could in a good position to ride out the challenges of the Canadian market. After all, it has about $230 million in cash on its balance sheet. Kristoffer Inton, an analyst from Morningstar who covers Tilray, says the company is the best positioned operator in Canada. He says it is 'undervalued' but 'very risky.' 'To call them a bad company isn't truly accurate,' says Inton. 'They're just in a market where nobody makes money.' Another issue weighing down the stock price is that the majority of Tilray's shareholders, like any other cannabis company, lacks institutional investors. About 75% of Tilray's shares are owned by retail investors, meaning the company does not have the stability of big shareholders who can help anchor a company's stock price. Tilray is not alone. Pot stocks are out of vogue. MSOS, the industry's biggest ETF, is down 88% from 2020. Inton says that retail investors trade on sentiment, and the sentiment around cannabis is 'quite negative now.' 'I think right now [being a cannabis company] hurts me,' Simon says. Pivoting to alcohol has helped diversify Tilray's revenue, but ironically legal weed has been hurting beer sales in the U.S. According to the Brewers Association, craft beer production decreased 4% in 2024 over the prior year, the third consecutive decline as consumer preferences continue to change. 'Cannabis does ultimately cannibalize alcohol sales,' Simon concedes. 'If I get cannibalized on one end, I want to be in the business that's cannibalizing.' To that end, he believes that Tilray's beverage business can expand through its intoxicating hemp-derived THC drink brands Happy Flower, Herb & Bloom and Fizzy Jane's. Thanks to hemp products being federally legal through the 2018 Farm Bill, Tilray sells its hemp beverages across 13 states in the U.S., with its biggest markets in Minnesota, Florida and Texas. Tilray launched hemp drinks in the U.S. last year and has yet to report revenue from this division. And THC-infused beverages, which are about 2% of the industry but growing rapidly, is a line of business that Simon is excited about. Legal High: Tilray's portfolio includes three THC-infused hemp beverage brands in the U.S. Thanks to the 2018 Farm Bill, THC derived from hemp is federally legal. TILRAY 'These hemp drinks are very big,' Simon says, while cracking open a can of Liquid Love, a Tilray brand of sparkling water. 'They're the next alcoholic seltzer. If I could sell it in 50 states, it would be a billion-dollar business for Tilray tomorrow.' Simon's diversification strategy, however, will take time to reverse its fortunes. Its revenue dipped 1% last quarter compared to the same time period in 2024, and the company lowered its full-year net revenue guidance to $850 million to $900 million down from $950 million to $1 billion. But Simon looks at Big Tobacco stocks for inspiration. Philip Morris International, which owns Zyn, the nicotine pouch juggernaut, through its subsidiary Swedish Match, has seen its stock price grow 234% since 2008. And considering that marijuana is not responsible for 480,000 American deaths each year like cigarettes, Simon believes Tilray's stock could do even better. 'I'm building something different,' says Simon. 'There is no company out there today that has cannabis, spirits, beer and hemp foods, so I'm either real smart or real dumb, you know?'
Yahoo
09-04-2025
- Business
- Yahoo
Tilray Brands cuts sales forecast
Cannabis and drinks producer Tilray Brands has revised its sales forecast for its full financial year. In a statement accompanying its latest results yesterday (8 April), the Hi*Ball Energy drinks producer cut its guidance for fiscal 2025 net revenues down to US$850m-$900m. It had previously forecast net revenues would sit between $950m and $1bn. Tilray pinned the new forecast on "adjustments for constant currency and the impacts of the strategic initiatives and SKU rationalisation". In the three months ended 28 February, the Atwater Brewery owner saw net revenue drop 1% on the year prior to $185.8m. On a constant-currency basis, it grew roughly 3% on 2024 to $193m. Gross profits in the period grew 5% to $52m. However, Tilray booked a third-quarter net loss of $793.5m. It filed impairments worth $699.2m for the quarter. During the first nine months of the company's fiscal year, its net revenue grew 7% year on year to $596.8m. Gross profit was also up 23% at $173m. Nine-month losses stood at $913m. Adjusted EBITDA was down nearly 11% to $9m in the third quarter, and dropped 11.6% in the nine months, which Tilray attributed to the impact of cutting SKUs in its beverages division, equating to a $1m impact, as well as a $600,000 hit "related to the prioritisation of international cannabis markets". Tilray's beverage division, which makes up 30% of the company's revenues, saw net revenue grow 2% to $56m in the third quarter. In the nine month period, this unit also grew 40% on the same period in 2024 to $175m. In January, the business announced plans to cut more than 300 SKUs as part of a wider programme dubbed Project 420 through which Tilray is looking to find synergies to boost the profitability of its drinks division. Speaking to analysts following the release of its results yesterday, CFO Carl Merton said the business was expecting the Project 420 programme to result in a $20m hit to net revenue in its fiscal year 2025. He added the programme also includes "a distributor rationalisation to reduce our over 700 distributors to approximately 500 distributors". In a statement accompanying its results, chairman and CEO Irwin Simon said: "We see opportunities in the alcohol, cannabis and wellness industries and believe these sectors are here to stay. He added: "In Q3, we delivered our highest cannabis gross margins in almost two years, and as of today our net debt is now less than one time EBITDA on a trailing twelve-month basis. We will not seek sales growth merely for the sake of sales if it does not add to the bottom line and benefit our shareholders." Alongside its results, Tilray also confirmed it did not expect to see US tariffs causing a hit to sales, with the company's US drinks brands being "solely manufactured and distributed within the US market", while its cannabis products in Canada are also made domestically. "In Europe, Tilray manufactures medical cannabis brands and products for distribution across Europe and Australia. Regarding Tilray's wellness business, Manitoba Harvest is currently exempt from the new tariffs," the New York-headquartered business added. "Tilray Brands cuts sales forecast" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
