MedMen Enterprises Inc. MMNFF, -1.07% said Wednesday it was cutting executive salaries amid an attempt to manage costs, as the company's losses continue to widen. The cannabis retailer reported fiscal third-quarter comprehensive net losses of $63.1 million, compared with $16.8 million in the year-ago quarter. Medmen logged losses attributable to shareholders of $23.7 million, or 20 cents a share, versus $18.4 million in the year-ago period. MedMen did not provide a year-ago per-share figure. Revenue rose to $36.6 million from $14.3 million in the year-ago period. FactSet does not report enough analyst data about MedMen to form reliable consensus estimates. In the earnings release, the company said that as part of a broad strategy to reduce general and administrative expenses, the company's chief executive and the president have agreed to lower their salaries to $50,000 each. MedMen stock has fallen 15.9% this year, with the S&P 500 index SPX, +0.29% rising 11.8%. MedMen stock closed up 0.5% during regular trading Wednesday.