The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
“Consumers and retailers have remained engaged in the lawn and garden category and supportive of our brands despite the challenges of the Covid-19 crisis,” Jim Hagedorn, chairman and chief executive officer at Scotss Miracle-Gro, said in a press release. “During April, in the face of difficult year-over-year comparisons and shelter-in-place orders in much of the United States, consumer purchases remained strong.”
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
Gross profit rose 17 per cent in Q2 FY20 to $550.2 million (Q2 FY19: $472.1 million). Income from operations increased 22 per cent to $353.7 million (Q2 FY20: $290.2 million).
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
US Consumer segment sales increased 11 per cent to $1.10 billion (Q2 FY19: $993.5 million). Sales for the Hawthorne segment jumped 60 percent to $230.0 million (Q2 FY2O: $144.1 million).
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
“At Hawthorne, we continue to see gains in all product categories and we continue to significantly outperform the competition,” Hagedorn said.
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
Even in the face of extremely difficult comparisons over the past two months, we are continuing to see strong year-over-year increases, giving us confidence that sales for the segment will increase approximately 30 to 35 per cent for the full year, compared to our original sales guidance of 12 to 15 per cent growth.”
The Scotts Miracle-Gro Company, a marketer of branded consumer lawn and garden as well as indoor growing products, posted 16 per cent sales growth to $1.38 billion in second quarter (Q2) FY20 ended on March 28, 2020 compared to sales of $1.18 billion in same period prior year. Net income for the quarter were $4.53 million (Q2 FY19: $7.16 milliion).#
In its outlook, the Scotts Miracle-Gro now expects company-wide sales growth in a range of 6 to 8 per cent for the full year.
Fibre2Fashion News Desk (JL)
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