Welcome to our dedicated page for Growgeneration news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on Growgeneration stock.
GrowGeneration Corp (GRWG) operates as a leading specialty retailer in hydroponic systems and organic gardening supplies, serving commercial cultivators and urban growers through its national retail network and e-commerce platform. This dedicated news hub provides investors and industry stakeholders with verified updates about the company's strategic developments.
Access official press releases, financial reports, and operational announcements covering GRWG's cultivation solutions, storage innovations, and market expansions. Our curated collection ensures timely access to earnings disclosures, leadership changes, product launches, and partnership agreements while maintaining strict compliance with financial reporting standards.
Key content categories include quarterly financial results, facility openings, technological advancements in indoor farming equipment, and sustainability initiatives. Bookmark this page for direct access to primary-source information about GRWG's position in the horticulture retail sector, without promotional commentary or speculative analysis.
GrowGeneration Corp. (GRWG) is set to acquire HGS Hydro, the third-largest chain of hydroponic garden centers in the U.S., for approximately $50 million in revenue for 2020. This acquisition will bring GrowGen's total footprint in Michigan to 14 stores, increasing their total to 65 nationwide. The deal is expected to close by fiscal year-end 2021, enhancing GrowGen's market share in a rapidly growing cannabis market. CEO Darren Lampert emphasized the strategic focus on acquiring leading hydroponic operations while also expanding their management team.
GrowGeneration Corp (NASDAQ: GRWG) will announce its second quarter financial results for the period ending June 30, 2021, on August 12, 2021, followed by a live earnings conference call at 9:00 a.m. ET. The call will be accessible via phone or webcast through their Investor Relations page. GrowGen operates 58 specialty hydroponic and organic gardening centers across various states and owns an online superstore for cultivators. Investors are encouraged to participate in the call for insights into the company’s performance.
Fluence, a leader in energy-efficient LED lighting for cannabis and food production, has partnered with GrowGeneration Corp (NASDAQ: GRWG), the largest chain of hydroponic and organic garden centers in the U.S. This collaboration positions Fluence as GrowGen's premier LED horticulture lighting provider, facilitating the distribution of Fluence's advanced cultivation technology through GrowGen's network of over 50 retail locations. The aim is to enhance growers' productivity and reduce costs, leveraging GrowGen's extensive expertise and product range.
GrowGeneration Corp (NASDAQ: GRWG) announced its inclusion in the Russell 2000 Index, effective June 28, 2021. This milestone reflects the company's growth and aims to enhance shareholder value by attracting institutional investors and improving stock liquidity. GrowGeneration operates 55 hydroponic garden centers across the U.S. and has a robust online presence. The Russell Indexes are widely regarded in investment management, with about $10.6 trillion in assets benchmarked against them.
GrowGeneration Corp (NASDAQ: GRWG) announced the results from its 2021 annual meeting of shareholders held on June 24, 2021. All five director nominees were elected, and Plante Moran was reappointed as the independent auditors. CEO Darren Lampert highlighted the company's appreciation for shareholder support and indicated plans to diversify the board in 2022 for a more inclusive culture. GrowGeneration operates 55 hydroponic and organic gardening centers across the U.S., with a comprehensive product range for both commercial and home growers.
GrowGeneration Corp (NASDAQ: GRWG) launched its redesigned e-commerce platform, GrowGeneration.com, featuring a Buy Online Pickup in Store (BOPIS) option at select locations. This platform serves as a comprehensive online store for over 10,000 products aimed at commercial and craft growers, including organic nutrients and advanced lighting technology. COO Tony Sullivan highlighted the growing consumer preference for convenient online shopping with in-store pickup. This launch is part of GrowGen's omni-channel strategy to enhance customer experience and boost revenue.
GrowGeneration Corp. (NASDAQ: GRWG) announced its participation in several virtual investment conferences. Darren Lampert, Co-founder and CEO, along with CFO Jeff Lasher, will hold one-on-one meetings with institutional investors on June 2, 2021. Lampert will also deliver a keynote address at the Benzinga Cannabis Capital Conference on June 3, 2021, at 9:10 am ET, followed by a fireside chat at the Piper Sandler 41st Annual Consumer Marketplace Conference on the same day at 3:00 pm ET. Another fireside chat is scheduled for June 10, 2021, at the Stifel 2021 Virtual Cross Sector Insight Conference.
GrowGeneration Corp. (NASDAQ: GRWG) announced the appointment of Paul Rutenis as Chief Merchant Officer, effective June 21, 2021. Rutenis has over 20 years of retail experience, having held executive roles at Dicks Sporting Goods and West Marine. CEO Darren Lampert expressed optimism about Rutenis's ability to enhance GrowGen's merchandising strategy, aligning with the company's goals for growth and expansion in the hydroponics sector. GrowGen operates 55 locations across several states and has established an online superstore for cultivators.
GrowGeneration Corp (NASDAQ: GRWG) announced its acquisition of The Harvest Company, a hydroponic supply center in Northern California, expanding its nationwide presence to five locations. The Harvest Company, known for servicing growers in the Emerald Triangle, will bring 16 employees and expertise to GrowGen's team. The acquisition is strategic, targeting the growing cannabis market in California, particularly in Trinity County, which has over 500 cultivation licenses. This move aligns with GrowGen's aim to enhance its service offerings and market reach.
GrowGeneration Corp. reported a record revenue of $90 million for Q1 2021, a 173% increase from $33 million in Q1 2020. Same-store sales also surged by 51%. The company raised its 2021 revenue guidance to $450-$470 million and adjusted EBITDA guidance to $54-$58 million. With net income of $6.1 million or $0.10 per share, significant growth metrics were achieved despite supply chain challenges. Additionally, nine acquisitions were completed, expanding their operational footprint.
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