Marijuana firm MedMen’s fiscal Q2 sales grow, losses shrink from previous quarter

(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.

Categories: Briefs, California Medical Cannabis Business & Marijuana Legal News, Canada Marijuana News, Dispensary/Retail Store Business News, Marijuana Stocks & Public Companies, United States


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