Trulieve Cannabis Q3 loss narrows on lower costs (updated)

Trulieve Cannabis

09/11/2023 11:13

(Adds background and operating expenses details from paragraph
2-5)
       Nov 9 (Reuters) - Pot firm Trulieve Cannabis  TRUL.CD 
on Thursday posted a narrower third-quarter loss as operating
expenses dropped.
    Cannabis companies have been taking cost-cut and inventory
reduction measures to preserve cash and improve financial
performance to turn profitable.
    In June, Trulieve said it would cease Massachusetts
operations by the end of this year and close a retail store in
California to reduce expenses.
    The company's operating expenses were down about 39% to $120
million in the quarter ended Sept. 30 from a year earlier.
    Trulieve posted a loss of $25 million, compared with $115
million a year earlier.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Shinjini
Ganguli)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))