Charlotte’s Web leans on D2C sales to maintain revenue in tough quarter

BOULDER — Sales were relatively flat for Charlotte’s Web Holdings Inc. (OTCQX: CWBHF) in the third quarter of fiscal year 2020 despite the COVID-19 pandemic reducing the opportunity for in-store sales of the company’s CBD products. 

The firm credits strong increases in direct-to-consumer sales for its ability to hold the line on its bottom line. Still, the firm lost money in the quarter.

Charlotte’s Web posted a net loss of $6.7 million on sales of $25.2 million during the quarter, compared with a net loss of $1.3 million on $25.1 million in sales during the same…