GrowGeneration Corp. reports news on its specialty products business for controlled environment agriculture, commercial cultivation and retail garden centers. The company sells nutrients, additives, growing media, lighting, environmental control systems, benching and racking through retail stores, an online superstore, wholesale distribution and commercial sales.
Recurring updates cover quarterly and annual financial results, proprietary brand penetration, retail and distribution activity, and product introductions under brands such as Char Coir, Drip Hydro, Power Si, Ion lights, The Harvest Company and Viagrow. Company news also includes industry conference participation, commercial cultivation education, and developments in its MMI Storage Solutions benching, racking and storage operations.
GrowGeneration Corp. (NASDAQ: GRWG) has announced the acquisition of inventory and equipment from Mighty Grow, a Michigan-based gardening business serving the local community for over a decade. This strategic transaction marks GrowGen's eighth retail location in Michigan, enhancing its footprint in the state. CEO Darren Lampert expressed enthusiasm about expanding their ability to serve both commercial and home-grow customers, while maintaining their commitment to quality products and knowledgeable service. GrowGen, known for its specialty hydroponic and organic gardening centers, currently operates 61 stores across 17 states and also features an online superstore.
GrowGeneration Corp. (NASDAQ: GRWG) has announced the acquisition of inventory and equipment from Community Garden & Greenhouse in Bozeman, Montana. This deal includes taking over an existing store location, which is part of GrowGen's strategy to expand its retail footprint. CEO Darren Lampert expressed enthusiasm about continuing the legacy of Community Garden & Greenhouse and enhancing GrowGen's offerings. With 60 stores across 17 states, GrowGen aims to provide top-quality products and services to both commercial and home-grow customers.
GrowGeneration Corp. (NASDAQ: GRWG) reported a full-year net revenue of $278.2 million, at the high end of guidance, but experienced a significant net loss of $163.7 million for 2022. The fourth quarter saw revenues fall to $54.5 million, a 40% decrease, with same-store sales down 51.9%. The gross profit for the year also declined to $70.3 million, representing 25.3% of revenues. The company projects 2023 revenues between $250 million and $270 million, with adjusted EBITDA expected to improve from a loss of $4 million to a potential profit of $1 million.
GrowGeneration Corp. (NASDAQ: GRWG) will announce its financial results for the fourth quarter and full year ending December 31, 2022, on March 15, 2023, after market close. A live conference call will follow at 4:30 p.m. EST, accessible via phone or webcast. GrowGeneration operates 60 specialty hydroponic and organic garden centers across 16 states, including California and Michigan. These centers provide a range of products for both commercial and home growers, contributing to the company's position as the largest in its sector in the U.S.
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.