A year after Trump’s tariffs pushed US alcohol off Canadian shelves, drinkers and bartenders are leaning into local spirits and inventing cocktails https://t.co/AAJTqCCqn5 ...

A year after Trump’s tariffs pushed US alcohol off Canadian shelves, drinkers and bartenders are leaning into local spirits and inventing cocktails https://t.co/HZP63A2MHj ...

Imagine for a moment a scenario where a billion-dollar market realizes its future consumers will no longer buy their product. This might be happening with the alcohol industry. Generation Z is drinking less and less each day, and sometimes, they don’t even start. I’m aEnglish and Brazilian Portuguese translator, proofreader, editor, and content writer specializing in Finance, Economics, and Investments. My strategy is focused on wealth preservation, income, and long-term appreciation. My national portfolio ...

2月25日，新疆维吾尔自治区乌苏市市场监管局开展暖心培训润民心服务活动，凝聚工作合力、聚焦市 场主体需求，以实干姿态为新一年优化营商环境工作开好局、起好步。辖区酒吧、音乐餐吧经营类场所 等48家市场主体负责人参会。 在培训会上，该局执法人员通过"法律条款+案例分析"的形式，深入解析食品（保健食品）安全事故典 型案例，围绕风险类型、风险点、风险描述、管控措施等方面讲解了相关法律法规知识。组织学习了习 近平总书记关于保护未成年人工作的重要论述精神和《中华人民共和国未成年人保护法》；通报了近期 办理的2起违规向未成年人销售酒的典型案例，违规经营者就依法依规经营作表态发言。同时，参会人 员签订了依法经营的承诺书，承诺将持续筑牢未成年人保护屏障，有效维护社会秩序，净化市场。在持 续加强对禁止向未成年人售酒工作的监管和宣传的同时，增强辖区市场主体落实食品、药品安全主体责 任的自觉性，规范经营行为，更好的助力市场主体在激烈的市场竞争中稳健前行。同时，也呼吁社会各 界共同关注未成年人健康成长，为下一代创造一个更加安全，健康的社会环境。 该局新市区市场监管所所长马红忠说："我们将持续深化入户走访，常态化开展暖心培训、安全排查， ...

Core Viewpoint - Tilray Brands is transitioning from a marijuana company to a broader "global lifestyle and consumer packaged goods company" by expanding into CBD products and alcohol, amidst challenges in the marijuana market [1][4]. Industry Overview - The marijuana market has not met Wall Street's high expectations, with fierce competition leading to a lack of profitability despite increased sales due to legalization [2]. - Legal marijuana sellers face competition from illegal drug sales, which remain prevalent and often cheaper due to the absence of taxes and regulatory costs [3]. Company Strategy - Tilray's diversification into CBD and alcoholic beverages is a logical move given the stagnation in its core marijuana business [4]. - The company has rapidly acquired 19 brands since 2021, which raises concerns about the ability to effectively integrate these acquisitions [5]. Financial Implications - The company's share count has increased by over 300% since the beginning of 2021, primarily due to funding acquisitions through stock sales, leading to dilution for existing shareholders [6]. - Write-downs across all business lines indicate potential missteps in the acquisition strategy, which could have significant costs for shareholders [6]. Management Focus - There are concerns that Tilray's management may be overly focused on empire building through acquisitions, which could lead to mistakes and unsustainable profits [7].

Group 1 - Canada's Prime Minister Mark Carney aims to establish the world's largest trading alliance excluding the United States [1] - A significant portion of Canada's economy is tied to the US, with 80% of the population living within 100 miles of the border and 75% of exports going to the US [2] - Prime Minister Carney has negotiated a tariff deal with China to increase Chinese imports into Canada and is working to connect the Trans-Pacific Partnership with the European Union to form a competing trade bloc against the US [3] Group 2 - Alberta Premier Danielle Smith emphasizes the need for Canada to protect its interests while maintaining a strong trade relationship with the US [4] - President Trump has expressed discontent with Canada's trading strategies and has hinted at not renewing the USMCA, citing that negotiations have been tough but have led to significant trade deals benefiting American workers [5] - The US is particularly interested in opening Canada's agriculture market, especially in dairy and alcohol, which have historically been protected [6]

Core Viewpoint - Tilray Brands has significantly underperformed in the market, with a 98% decline in share value over the past five years compared to a 78% increase in the S&P 500 [1] Financial Performance - Tilray reported a net loss of $42 million for the six-month period ending November 30, 2025, an improvement from a $120 million loss in the same period the previous year, attributed to changes in fair value and lower amortization expenses [4] - The company's cash burn improved, using just under $10 million during the six-month period compared to over $76 million a year ago, indicating some progress in financial management [5] Market Outlook - The future of Tilray's stock is uncertain, with concerns that the company's aggressive growth strategy may not yield positive results, especially given the likelihood that U.S. marijuana legalization will not occur soon [6] - There is a prevailing sentiment that Tilray's stock could potentially go to $0 if financial conditions do not improve, particularly if liquidity issues arise [3][6] Investment Considerations - Tilray is viewed as a highly risky investment, with analysts suggesting that there are better and less risky growth stocks available for investors [7]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 65% and EBITDA growth of 75% over the last three years [15][16] - For the fourth quarter, the company experienced positive same restaurant sales each month, although traffic was under pressure compared to previous quarters [13][14] Business Line Data and Key Metrics Changes - The company has successfully added approximately 250 restaurants since going public, with a focus on disciplined unit expansion [17][15] - The introduction of alcohol has maintained a consistent sales mix, while the juice program has grown to represent 15% of total sales [39][36] Market Data and Key Metrics Changes - The company has seen a positive trend in traffic for the full year, entering 2026 with more momentum than some peers [13] - The company is targeting a total addressable market of 2,200 locations, indicating significant growth potential [49] Company Strategy and Development Direction - The company emphasizes a methodical and thoughtful growth strategy, balancing new unit openings with maintaining positive same-restaurant sales [50][52] - A focus on marketing and customer data analytics has been introduced to enhance customer engagement and drive traffic [19][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged inflationary pressures on key commodities, with a full-year inflation rate of about 6%, but noted moderation in the second half of the year [41] - The company is optimistic about its growth trajectory, citing a strong track record of performance in various economic climates [66] Other Important Information - The company has implemented changes to its third-party delivery strategy, resulting in significant double-digit growth in that category [33][30] - Labor costs increased by 4% due to regulatory minimum wage inflation, but turnover rates have improved and are below industry averages [46][48] Q&A Session Summary Question: What were the big wins since going public? - Management highlighted disciplined unit expansion and operational excellence as key factors for growth [15][16] Question: How has traffic improved in 2025? - The company enhanced its marketing strategies and utilized customer data to drive traffic effectively [19][20] Question: What is the current ROI target for new restaurants? - The company targets an ROI of 18%-20% for new restaurant projects [56] Question: How does the company approach labor costs and turnover? - Management noted a 4% increase in labor costs but emphasized improved turnover rates due to a positive work environment [46][48] Question: What is the long-term growth potential for the company? - The company maintains a total addressable market of 2,200 locations and is focused on sustainable growth [49]

Financial Data and Key Metrics Changes - The company reported a revenue increase of 65% and EBITDA growth of 75% over the last three years since going public [16] - For the full year, inflation ran about 6%, with early-year inflation on key commodities reaching 8% to 10% [34][35] - The company aims to maintain restaurant-level operating profit margins of 18% to 20% [35] Business Line Data and Key Metrics Changes - The company has added approximately 250 restaurants since going public, with a focus on disciplined unit expansion [18] - Alcohol sales have remained stable as a percentage of sales, while the juice program has grown to represent 15% of the mix [30][32] Market Data and Key Metrics Changes - The company has successfully entered new markets, including Las Vegas, and continues to see positive same-restaurant sales and traffic [18][39] - The company has a total addressable market of 2,200 locations, indicating significant growth potential [39] Company Strategy and Development Direction - The company emphasizes a methodical and thoughtful growth strategy, balancing new unit openings with maintaining positive same-restaurant sales [39] - A focus on marketing and customer data analytics has been introduced to enhance customer engagement and drive traffic [19][20][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with positive momentum, despite facing some pressure in the fourth quarter [13] - The company has a strong track record of delivering results in various economic climates, which management believes will continue [47] Other Important Information - The company has improved its approach to third-party delivery, resulting in significant double-digit growth in that category [28] - Labor costs increased by 4% last year, but turnover rates have been declining for ten consecutive quarters, indicating a positive work environment [36][37] Q&A Session Summary Question: What were the big wins since going public? - Management highlighted disciplined unit expansion, operational excellence, and strategic franchise acquisitions as key factors for growth [16][17] Question: What changes were made to improve traffic in 2025? - The company implemented a more data-driven marketing strategy, targeting specific customer segments and optimizing messaging [19][20] Question: How has the introduction of alcohol affected sales? - Alcohol sales have remained stable, serving to eliminate veto votes, while the juice program has also contributed positively to sales [30][32] Question: What is the company's long-term growth outlook? - The company maintains a total addressable market of 2,200 locations and aims for a balanced approach to growth [39] Question: How does the company manage inflationary pressures? - The company negotiates prices for key commodities annually and adjusts menu pricing to defend margins [34][35]

Core Viewpoint - The Ukrainian government has extended the import ban on Russian goods for another year, reflecting ongoing geopolitical tensions and economic measures against Russia [1] Group 1: Import Ban Details - The first resolution extends the import ban on certain Russian goods until December 31, 2026 [1] - The second resolution extends the tariff imposition on Russian products for the same duration [1] - The banned items include meat, fish, coffee, tea, chocolate, baby food, animal feed, alcoholic beverages, and cigarettes, as well as various industrial products, vehicles, fertilizers, and agricultural products [1]