Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Seattle’s Only Legal Pot Shop Sells Out After 3 Days

July 11 (Bloomberg) -- Cannabis City in Seattle, the only shop in Washington’s largest city to legally offer marijuana, ran out of stock on the third day of state-approved retail sales, its owner said.

The store, one of 25 licensed statewide this week, had 11 pounds (4,990 grams) of pot when it opened July 8 and sold out about 5 p.m. local time yesterday, owner James Lathrop said. With taxes, 2-gram bags sold for $46.77, he said.

“We knew it was coming,” Lathrop said. “We didn’t have any guaranteed additional deliveries.”

Washington, home to Amazon.com Inc., Microsoft Corp. and Starbucks Corp., became the second state after Colorado to permit the sale of marijuana for recreational use. Voters in both states approved ballot initiatives in 2012, and Colorado retailers began sales in January.

Lathrop said growers didn’t receive licenses in time to produce enough marijuana for the store openings this week. The plants take three to four months to mature, he said.

Washington issued 90 licenses to pot growers and processors as of last week, according to Brian Smith, a spokesman for the Washington State Liquor Control Board, the agency charged with regulating the industry.

To contact the reporter on this story: Alison Vekshin in San Francisco at avekshin@bloomberg.net

To contact the editors responsible for this story: Stephen Merelman at smerelman@bloomberg.net Pete Young, Theo Mullen

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.