(This story has been up to date to incorporate outcomes from the second quarter of fiscal 2018.)
Los Angeles-based MedMen reported income of $29.9 million and a internet lack of $64.6 million for its fiscal second quarter ended Dec. 29, because the multistate hashish firm noticed its sales develop and pink ink recede versus the previous quarter.
The retailer reported a internet lack of $11 million on sales of $three million for a similar interval a yr in the past.
The newest income determine for the newly public firm – it debuted on the Canadian Securities Exchange final May – is up 39% from $21.5 million in MedMen’s first fiscal quarter ended Sept. 30, 2018.
The firm’s newest internet loss, in the meantime, narrowed from $66.5 million within the first quarter.
The retailer, which final week loved a reprieve on closing its flagship retailer in West Hollywood, is a defendant in three separate lawsuits.
MedMen trades on the CSE beneath the ticker image MMEN.
More particulars on the fiscal second quarter outcomes are out there right here.