The Financial Post reports in its Tuesday edition that Tilray is overcoming market saturation in Canada, showing how branding strategies are paying off for some companies in the crowded cannabis space. A Bloomberg dispatch to the Post says that the company, which leads Canada in cannabis market share, on Monday posted fiscal second-quarter earnings before interest, taxes, depreciation, and amortization of $13.8-million (U.S.), topping the average analyst estimate of $11.3-million (U.S.). Tilray said it was able to maintain profitability in the period ended Nov. 30 thanks to demand for its cannabis brands and consumer franchises like Sweetwater craft beer and Manitoba Harvest hemp products. Tilray seeks to further capitalize on its brand strength by launching a new parent name, Tilray Brands Inc. The pivot to a brand focus comes when the cannabis industry has grown immensely but there are still few recognizable product names in North America. Competitor Canopy Growth said on a recent earnings call that consumer preferences in Canada's cannabis market are shifting rapidly and it has struggled to keep up. "Only the strong will survive," said Blair Macneil, president of Tilray Canada, on a conference call Monday.
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