Cannabis retailer MedMen losses narrowed as revenue grows 39%

on Feb27
by | Comments Off on Cannabis retailer MedMen losses narrowed as revenue grows 39% |

 

Cannabis retailer MedMen Enterprises Inc. reported Wednesday fiscal second-quarter net losses attributable to shareholders of $18.7 million, or 25 cents a share, compared with losses of $11 million, in the year-ago period. MedMen did not provide a per-share figure for fiscal second quarter 2017. Revenue rose to $29.9 million from $3 million in the year-ago period. MedMen said the December quarter in 2018 was 13 weeks. MedMen does not have enough sell-side analyst coverage to make FactSet estimates reliable. In the fiscal first quarter, MedMen broke out executives travel and entertainment costs of $2 million. In the fiscal second quarter, which the company reported Wednesday, the company did not break out this cost. MedMen stock has dropped 17% in the past six months, with the S&P 500 index

SPX, -0.05%

falling 3.6%. The stock does not trade after hours on the Canadian Securities Exchange or over the counter, where it is listed in the U.S.

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