You'd think that our friends at S M-G were doing pretty well with their $2.9 billion of sales, but according to stories posted last week at a number of news sites, including here, it's not enough. They're coming for the stoners. Here's Chief Executive Jim Hagedorn: “I want to target the pot market,” Hagedorn said in an interview. “There's no good reason we haven't.”
Read the Wall Street Journal article here, which gives some of the strategic reasons for this move. As I was discussing earlier today, big box revenues aren't what they used to be, so it's time for some diversification.