Growgeneration Corp Stock Price, News & Analysis

GrowGeneration Corp. (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers in the U.S., has appointed Clifton Tomasini as Vice President of Operations. He brings extensive experience from his previous roles in the hydroponics industry, including building Quest and managing supply chain operations at Therma-Stor LLC. Tomasini aims to enhance operational efficiency and customer satisfaction at GrowGen, which operates 60 stores across 16 states and an online superstore. The company sells a wide range of products for both commercial and home growers, emphasizing high-quality offerings to meet growing demand.

GrowGeneration Corp. (NASDAQ: GRWG) announced the acquisition of inventory and equipment from The Grow Store, a long-established hydroponic retailer in Traverse City, Michigan, enhancing its market presence in northern Michigan. This strategic move aims to better serve the local grower community, supporting GrowGen's commitment to high-quality products and extensive customer service. With 60 stores across 16 states, GrowGen continues to expand its footprint in the hydroponics market, reinforcing its position as a leading specialty retailer in the sector.

GrowGeneration Corp. (NASDAQ: GRWG) has appointed Aaron Hook as the new Vice President of Sales, aiming to enhance revenue growth and sales strategies. With over 15 years of experience in controlled environment agriculture, Hook previously held leadership roles at Sunlight Supply and Hawthorne. Co-Founder Darren Lampert expressed enthusiasm about Hook's appointment, emphasizing his valuable background in the industry. GrowGeneration operates 59 stores across 16 states and serves as a key supplier in the hydroponics and organic gardening market.

GrowGeneration Corp. (NASDAQ: GRWG), the leading chain of hydroponic and organic garden centers in the U.S., will participate in the 25th Annual ICR Conference from January 9-11, 2023, in Orlando, Florida. CEO Darren Lampert will engage in a live fireside chat on January 10, 2023, at 11:30 AM ET, accessible via the Company’s Investor Relations website. GrowGen operates 59 stores across 16 states, specializing in hydroponic supplies and organic gardening products, and also runs an online superstore for cultivators.

GrowGeneration Corp. (NASDAQ: GRWG) opens its 60th store in Mount Holly, New Jersey, on November 21, 2022, expanding to 16 states. The 7,700-square-foot store will feature vertical farming demonstrations and support for growers. CEO Darren Lampert highlighted New Jersey's potential market growth, citing strong medical patient bases and numerous conditional licenses. The company aims to aid social equity license holders through educational programs, with 30 active participants in the region to date.

GrowGeneration Corp. (NASDAQ: GRWG) has partnered with Grodan, becoming the first Platinum Certified dealer of Grodan's stone wool growing solutions in the U.S. This partnership aims to enhance GrowGen's market position by providing innovative and sustainable products to its customers at competitive prices. GrowGen currently operates 59 specialty hydroponic and organic gardening centers across the United States. The partnership is expected to promote Grodan’s advanced crop steering products through GrowGen's extensive retail footprint.

GrowGeneration Corp. (NASDAQ: GRWG) will participate in the 11th annual Marijuana Business Conference and Cannabis Expo (MJBizCon) from November 16-18, 2022, at the Las Vegas Convention Center. The company plans to showcase its leading products such as Charcoir coco coir and Power Si. Additionally, MMI Agriculture will debut a new single bench system at the expo. Senior management, including CEO Darren Lampert and President Michael Salaman, will attend. GrowGen currently operates 59 stores across 15 states and offers a wide range of hydroponic and organic gardening products.

GrowGeneration Corp. (NASDAQ: GRWG) announced its acquisition of St. Louis Hydroponic Company, entering the St. Louis market as adult-use sales are set to begin following recent voter approval. This strategic move enhances GrowGen's retail footprint, positioning the company in an expanding market with over 200,000 medical patients and new home cultivation licenses. With 59 stores across 15 states, GrowGen aims to leverage the St. Louis Hydroponic team's 40 years of combined experience to capture market share and drive growth in Missouri.

GrowGeneration Corp. (NASDAQ: GRWG) reported third-quarter 2022 net sales of $70.9 million, down 39% year-over-year due to decreased industry demand. Comparable store sales fell 58.1%, leading to a net loss of $7.2 million or $0.12 per share. Adjusted EBITDA loss was $2.6 million. Positive cash flow of $8.3 million was generated, with cash reserves at $71.1 million and no debt. The company raised its 2022 revenue guidance to $270-280 million and adjusted EBITDA loss guidance to $10-13 million. Future expansion plans were also highlighted, including two new stores in Missouri and New Jersey.