Softness in market demand persists, but the company is focusing on cost optimization, in-store productivity, and private-label offerings to support margins.

Stable performance with retail gross margin expansion driven by promotional efficiency, pricing, and mix management.

Impacted by destocking and order phasing, but expecting improvement in the second half of the year supported by the Jeeter brand launch.

As U.S. cannabis rescheduling gains momentum, the restructuring of the Parallel and Skymint investments continues to advance toward completion, with only a limited number of remaining requirements outstanding.