Scotts sees patch of growth in third quarter
In advance of the company’s presentation at an investor conference Tuesday, Scotts Miracle-Gro issued a statement pointing to rising sales in the third quarter.
"U.S. consumer purchases for the fiscal third quarter are up 15% through June 9, giving us continued confidence in the earnings guidance we established heading into the year," said CFO Larry Hilsheimer. "Consumer purchases, which were down more than 25% on a fiscal year-to-date basis entering April, are down 4% through June 9."
The company will present at the William Blair’s 33rd Annual Growth Stock Conference.
Scotts updated individual components of fiscal 2013 guidance, and expects net sales to range from a 1% decrease to an increase of 1% compared with a year ago.
The company reaffirmed improvement of up to 125 basis points in the full-year adjusted gross margin rate.