Zinger Key Points
- Charlotte's Web hemp-derived CBD wellness products are now available at Walmart.
- Starting in June, consumers will find Charlotte's Web CBD topical products in 827 Walmart stores across five states.
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Charlotte’s Web Holdings, Inc. CWEB CWBHF announced on Wednesday that its hemp-derived CBD wellness products are now available at Walmart WMT.
What Happened
Starting in June, consumers will find Charlotte’s Web CBD topical products in 827 Walmart stores across five states including California, Illinois, Florida, Texas and Pennsylvania. Walmart, the world’s largest retailer domestically and internationally, reported in May that sales had reached $161.51 billion in Q1 2024.
“We are proud to introduce CBD topicals at Walmart, reflecting Charlotte’s Web’s dedication to setting new standards of excellence in the CBD industry, ensuring every Walmart shopper can experience the transformative benefits of our meticulously crafted products," Charlotte’s Web CEO Bill Morachnick said.
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See also: Walmart’s Legal Victory Over NJ Resident Who Lost Job Opportunity In Pre-Employment Cannabis Test
Why It Matters
The new retail distribution at Walmart expands Charlotte’s Web CBD wellness presence "at an affordable price point, unlocking both value and accessibility for the Walmart customer," Charlotte’s Web said in a press release.
The new line of competitively priced CBD topicals is formulated with CBD isolate.
The collection includes a balm stick, a cream and a cooling gel, each containing 1,000 mg of concentrated CBD isolate. These are blended with soothing and cooling ingredients including menthol, camphor and aloe vera.
All products are non-GMO, cruelty-free, sulfate-free, paraben-free and formulated without major allergens.
Now read: Walmart Enhances Walmart+ To Compete With Amazon Prime: Key Differences Unveiled
CWBHF Price Action
Charlotte’s Web's shares traded 5.53% lower at $0.1606 per share after the market close on Tuesday afternoon.
WMT Price Action
Walmart's shares traded 0.16% lower at $67.31 per share during the pre-market session on Wednesday morning.
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