According to a Sunday (May 12) report from the New York Post, retail giants Walmart (NYSE:WMT) and Target (NYSE:TGT) are studying the potential of selling cannabidiol (CBD) products.

Since the passing of the farm bill in 2018, which legalized the US hemp market, hemp-derived CBD products have gained steam as novelty items outside traditional marijuana shops in the country.


This move would represent another set of major retailers with wide networks of stores across the US entering the CBD market.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

On the potential for Walmart and Target stores to start offering these products, the New York Post wrote:

The Post has learned that top executives at major chains such as Walmart and Target have been quietly meeting with makers of drinks, gummy bears, topical creams and oils that are infused with cannabidiol, or CBD.

“Like many companies, we know there is consumer interest in CBD products, and the conversation is evolving quickly,” a Target spokesperson told the New York Post, but did not expand.

Shelf space for these novelty CBD products has risen in the US thanks to the entry of established pharmacy players.

In March, Walgreens Boots Alliance (NASDAQ:WBA) announced that its pharmacy chain would begin selling these products in the US.

This announcement came on the heels of CVS Pharmacy (NYSE:CVS) also confirming the start of sales for these products. The new came during a quarterly update conference call from multi-state operator (MSO) Curaleaf Holdings (CSE:CURA,OTCQX:CURLF).

The MSO explained to investors that its line of CBD products aimed at the health and wellness market would be part of the sales launch from CVS pharmacies.

“I think that, in anticipation of the farm bill last year, many retailers were trying to come to a strategy for how they were going to address hemp,” Joseph Lusardi, CEO of Curaleaf, said in the call.

The race for CBD products seems to be adding players by the day, with burger chain Carl’s Jr. announcing it would release a CBD-infused burger for 420, and even the Oreo cookies manufacturer saying that it wants some form of CBD-infused product on shelves.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

BevCanna Enterprises (CSE:BEV,OTCQQ:BVNNF,FWB:7BC) CEO Marcello Leone shared how the company is scaling up its products to forge partnerships and explore opportunities across Canada, the US and Western Europe. 

“Getting your standard processing license and being fully compliant at a federal level is critical in Canada, and we were successful in getting that done. Now we’re getting ready to launch our Keef line of beverages within the next 45 days,” Leone said. 

As a young company, Leone said BevCanna has only started, but it took a four-pronged approach to make sure that it is a revenue-generating company prepared for the opening of many jurisdictions for CBD-based products.

“We are blessed that we have a beautiful infrastructure of our own, a state-of-the-art bottling facility with a capacity of almost 200 million bottles per annum and a strong balance sheet of $55 million. We are in a strong position to scale and grow this company.”

BevCanna has received a Standard Processing License from Health Canada and is now fully authorized to begin production at its full-service, high-capacity beverage manufacturing facility. The company will begin production of its white-label products, number one US cannabis beverage brand Keef and its in-house beverages through licensed Canadian retailers, positioning the company to fully capitalize on the burgeoning Canadian cannabis-infused beverage sector.

Watch the full interview with CEO Marcello Leone above.

Keep reading... Show less

BioHarvest Sciences (CSE: BHSC) will be presenting at the Benzinga Cleantech Small Cap Conference taking place on April 22, 2021. We invite our shareholders and all interested parties to explore cleantech small cap investment opportunities through two days of networking, dealmaking and discovery.

Sign up to get a free spectator pass for the event: https://www.benzinga.com/events/small-cap/clean-tech/

Keep reading... Show less

Positive distributor feedback and strong consumer interest accelerating launch with distributors

Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that its wholly-owned subsidiary Naturo Group has successfully completed its initial shipment of TRACE plant-based products to one of Japan’s largest beverage distributors.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced an additional refreshment of its board of directors to further strengthen its leadership in the cannabis industry.

Keep reading... Show less