Welcome to our dedicated page for GROW GENERATION news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on GROW GENERATION stock.
GrowGeneration Corp. (symbol: GRWG) is a leading company in the United States that owns and operates retail hydroponic and organic gardening stores. The company specializes in the marketing and distribution of a wide range of horticultural, organic, lighting, and hydroponic products. These include lighting fixtures, nutrients, seeds, growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Founded with a vision to support commercial and urban cultivators, GrowGeneration has established itself as a go-to resource for those growing specialty crops, including organics, greens, and plant-based medicines. As of March 27, 2020, the company operated 27 retail and commercial hydroponic/gardening centers, spanning multiple states such as Colorado, California, Michigan, Nevada, Washington, Oregon, Oklahoma, Rhode Island, Maine, and Florida.
In addition to its brick-and-mortar locations, GrowGeneration also operates an e-commerce store, growgen.pro, which offers an extensive selection of products to meet the needs of growers nationwide. The company caters to a diverse customer base, from hobbyist gardeners to large-scale commercial operations.
GrowGeneration Corp. is divided into two primary segments. The Cultivation and Gardening segment focuses on the core business of hydroponic and organic gardening products, while the Storage Solutions segment provides benching, racking, and storage solutions, ensuring efficient space utilization for growers.
With a commitment to innovation and quality, GrowGeneration continues to expand its footprint and enhance its product offerings. The company has formed strategic partnerships and continually invests in new technologies to better serve its customers. These efforts have positioned GrowGeneration as an industry leader in the fast-growing market for hydroponic and organic gardening supplies.
Financially, the company has shown robust growth, leveraging its extensive network of retail and online platforms to drive sales and profitability. Recent achievements include the expansion of its retail locations and the introduction of new product lines that cater to the evolving needs of modern cultivators.
Stay updated with the latest news and developments from GrowGeneration Corp. as the company continues to innovate and lead the way in hydroponic and organic gardening solutions.
GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the US, has announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference. The event is scheduled for September 12, 2024, at the Yale Club in Midtown Manhattan, New York City.
Darren Lampert, CEO and Co-Founder of GrowGen, will be representing the company at the conference. GrowGen will host one-on-one investor meetings throughout the event. Interested parties can schedule meetings through Lake Street representatives or by contacting GrowGen directly.
GrowGeneration (NASDAQ: GRWG) announced its Q2 2024 financial results. The company reported net revenue of $53.5 million, an 11.8% increase quarter-over-quarter, and a gross profit margin of 26.9%, improving by 110 basis points sequentially. Operating expenses decreased by $2.5 million year-over-year to $20.9 million.
However, the company faced a net loss of $5.9 million and a Non-GAAP Adjusted EBITDA loss of $1.1 million. Proprietary brand sales increased to 21.5% of cultivation and gardening sales, up from 16.7% year-over-year. The company holds cash and marketable securities worth $56.0 million and no debt.
Quarterly gross profit decreased by $2.7 million year-over-year, driven mainly by reduced sales in the cultivation and gardening segment. Despite the losses, GrowGen expects full-year 2024 net sales between $190 million and $195 million.
GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the United States, has announced its plans to release second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a live earnings conference call at 4:30 p.m. ET on the same day.
Interested parties can participate in the call by dialing (800) 836-8184 (domestic) or (289) 819-1350 (international) using the conference code 99524. The call will also be webcast and accessible through the company's website. A replay of the webcast will be available for approximately 90 calendar days after the call.
GrowGeneration Corp. (NASDAQ: GRWG) announced preliminary Q2 2024 results and a strategic restructuring plan. Key points:
- Q2 net revenue expected to exceed $53 million, up 10.6% from Q1
- Restructuring plan aims to generate $12 million in savings over 12 months
- Focusing on proprietary brands, targeting 35% of total sales by end of 2025
- Launching B2B e-commerce portal in Q4 2024
- Closing 19 underperforming stores, reducing to 31 operational stores
- Streamlining operations and rationalizing SKU count
The plan aims to improve profitability, drive higher margins, and position GrowGen for future growth in the hydroponics and organic gardening supply industry.
GrowGeneration (NASDAQ: GRWG), a major retailer and distributor of hydroponic and organic gardening products in the U.S., will participate in the Benzinga Cannabis Market Spotlight Conference on June 17, 2024, in New Brunswick, New Jersey.
CEO Darren Lampert will join a Fireside Chat at 9:40 a.m. Eastern Time on the same day. The commercial team will exhibit proprietary brands such as Drip Hydro powders, Charcoir coco pots and cubes, and Ion LED lights. For additional details or meeting requests, contact GrowGen@kcsa.com.
GrowGeneration Corp. (NASDAQ: GRWG) has launched the HRG Marketplace, a new B2B portal by its wholesale division, Horticultural Rep Group (HRG). This platform aims to streamline the procurement process for hydroponic retailers and garden centers nationwide. Effective immediately, over 500 existing customers and tens of thousands of garden centers can access leading hydroponic products via the portal. The HRG Marketplace offers a centralized hub for product catalogs, shipping tracking, purchase orders, invoices, and more, ensuring rapid delivery times of 24-48 hours across the U.S. Supported by an extensive national sales and customer service team, this initiative emphasizes GrowGeneration's commitment to aiding the growth of the hydroponic industry.
GrowGeneration Corp (NASDAQ: GRWG), a leading retailer and distributor of hydroponic and organic gardening products in the U.S., announced its participation in Oppenheimer's 24th Annual Consumer Growth and E-Commerce Virtual Conference. The event will take place from June 10-12, 2024, and Gregory Sanders, the CFO, will present on June 10 at 1:30 p.m. ET. The presentation will be available via webcast on GrowGeneration’s Investor Relations website. For further details or to schedule a meeting, interested parties can contact GrowGen@kcsa.com.
GrowGeneration Corp. (NASDAQ: GRWG) reported net revenue of $47.9 million for the first quarter of 2024, at the top end of guidance. Gross profit margin improved to 25.8% sequentially. The company reported a net loss of $8.8 million and an Adjusted EBITDA loss of $2.9 million. Despite a 3% decrease in net sales, GrowGen reiterated full-year 2024 revenue guidance of $205 million to $215 million. The company continues to focus on expanding its proprietary brand portfolio and driving increased profitability.
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