MedMen Pre-Announces Large Sales Decline And Massive Tax Bill
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It noted substantial growth in Florida and Illinois compared to a year ago
Through an SEC filing announcing its inability to file its 10-Q on a timely basis, MedMen (CSE: MMEN) (OTC: MMNFF) disclosed that its financials deteriorated in its fiscal Q2. It suggested that revenue was $33.8 million, which is a decline of 23% from a year ago and below the analyst consensus of $38.8 million. In its fiscal Q1, it reported revenue of $35.6 million. It blamed the weakness on COVID-19’s impact on retail traffic and tourism in California and Nevada. It noted substantial growth in Florida and Illinois compared to a year ago.
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