MEDMEN ENTPRS B SUB VTG Stock Price, News & Analysis

MedMen Enterprises Inc. has announced the launch of same day and next day delivery services for medical cannabis patients in Florida. Customers in St. Petersburg, West Palm Beach, South Beach, and Orlando can now place online orders. Free delivery is offered for purchases over $49. This initiative aims to enhance patient care by making high-quality cannabis products more accessible. MedMen continues to maintain a broad operational presence across states including California, Nevada, and Illinois.

MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) has announced a nationwide donation drive from December 13-23, aimed at supporting local charities in its operational areas. Each MedMen dispensary will select a charity to direct contributions, offering customers a 10% discount on orders for donations. Notable charities include food banks and shelters across states like Florida, California, Nevada, New York, Illinois, and Arizona. Interim CEO Michael Serruya emphasized the company's commitment to community relationships and positive impact during this holiday season.

MedMen Enterprises (CSE: MMEN, OTCQB: MMNFF) announced a significant expansion of its product inventory, adding seven popular cannabis brands. These include Fireball, Papa’s Herb, PEACHES, Kush Co, Congo Club, Nasha, and Dr. Greenthumb. The new products feature a range of options, from sativa-infused gummies to premium indoor cannabis. The expansion reflects MedMen's commitment to offering high-quality products that meet diverse customer needs. The full inventory is available in stores and via online services.

MedMen Enterprises has successfully defended itself in a lawsuit brought by former CFO James Parker, who sought over $20 million for wrongful termination and other claims. The jury ruled in favor of MedMen on all counts, establishing that Parker is owed no damages. Additionally, the jury found that Parker breached his contract and fiduciary duties, although no harm was determined from his actions. MedMen aims to move forward and enhance its operations in the cannabis market across the U.S. and internationally.

MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) appointed Michael Serruya as Chairman and Interim CEO, succeeding Tom Lynch. Serruya, a seasoned cannabis investor, aims to drive growth and expand operations in the U.S. and internationally. His appointment follows a $100 million investment from Serruya Private Equity, enhancing MedMen's ability to pursue strategic growth initiatives. Lynch, who led a successful turnaround, will continue to manage MedMen Boston LLC and MME Newton Retail LLC.

MedMen Enterprises reported a 13.4% year-over-year increase in revenue for Q1 2022, totaling $39.8 million. Retail revenue surged 17.6% year-over-year, with a notable 40.7% rise in Florida. However, the company faced a net loss of $55.3 million, a significant increase from $21.9 million the previous year. Total gross margin dipped to 43.9%, attributed to promotional activities and an inventory write-down. MedMen successfully secured $100 million in investment to boost its operations in key markets.

MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) has appointed David Hsu and Ed Record to its Board of Directors. Hsu brings extensive experience in financial turnarounds, previously serving as COO of Cronos Group, while Record has a strong retail background, having been CFO for Hudson's Bay Company and J.C. Penney. They replace Albert Harrington and Nicole Christoff, who stepped down on November 5, 2021. Executive Chairman Tom Lynch expressed confidence in the new members' experience to aid MedMen's growth strategy.

MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) will release its financial results for Q1 fiscal 2022, ending September 25, 2021, after market close on November 9, 2021. A conference call featuring CEO Tom Lynch, CFO Reece Fulgham, and CRO Tracy McCourt will follow at 5:00 PM ET. Investors can access the live audio webcast through the company's website, and it will be archived for later replay.

MedMen operates in multiple states, offering high-quality cannabis products and services, including its proprietary delivery and loyalty program.

MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) has appointed Roz Lipsey as Chief Operating Officer, effective immediately, succeeding Tim Bossidy. Lipsey, who has been with MedMen since 2020 as Senior VP of Business Operations, brings over 25 years of operational experience, including leadership at a vertically integrated cannabis company in Arizona. CEO Tom Lynch praised her results-driven leadership, emphasizing her invaluable expertise. Bossidy will return to his role at SierraConstellation Partners after implementing MedMen's turnaround plan.