Charlotte’s Web losses mount as CBD firm implements turnaround strategy – BizWest

LOUISVILLE — Louisville-based CBD company Charlotte’s Web Holdings Inc. (TSX: CWEB) (OTCQX: CWBHF) saw its year-over-year sales slump and its losses grow in the first quarter of 2024 as CW begins to implement its “True North” turnaround strategy, which aims to reestablish solid financial footing. 

Sales for the most recent period were $12 million, down from $17 million in the first quarter last year.

Charlotte’s Web’s net loss in the first quarter of 2024 was $9.7 million, compared with a net loss of $2.9 million in the same period of 2023. 

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