Content about Scotts Miracle-Gro Company

November 14, 2012
Scotts results fall short of expectations

Marysville, Ohio-based Scotts Miracle-Gro Co. reported net sales of $2.83 billion for the fiscal 2012, up 1% from $2.80 billion in the prior year.

Scotts posted net income of $106.5 million for the year, down 36.6% from $167.9 million in the prior year.

For the fourth quarter, Scotts sales were $401.2 million, down slightly from $403.1 million in the fourth quarter of 2012. The company posted a net loss of $40.1 million in the fourth quarter, compared with a net loss of $53.4 million in the same quarter last year.

August 10, 2012
Profits plunge at Scotts Miracle-Gro

Scotts Miracle-Gro, the industry’s largest supplier of lawn and garden products, reported sales of $1.06 billion for its third fiscal quarter, showing little change from sales of $1.05 billion in the same quarter of 2011.

Adjusted income from continuing operations was $99.4 million in the third quarter,  a 21.5% drop from adjusted income of $126.7 million for the same period a year ago.

June 13, 2012
At Scotts, sales lower than expected

Marysville, Ohio-based Scotts Miracle-Gro has released a financial update for fiscal 2012 to “reflect the pressures driven by lower-than-expected sales and unfavorable product mix,” according to a company press release.

Consumer purchases of its products at its largest retail partners in the United States are up 3% on a year-to-date basis, compared with 8% entering May. The company expects to fall short of its previous guidance of 6% to 8% sales growth and adjusted earnings of $2.65 to $2.85 per share. 

May 8, 2012
Scotts sees a strong start to lawn-and-garden season

Marysville, Ohio-based The Scotts Miracle-Gro said a record level of consumer purchases in March led to a 4% gain in company-wide sales in the second quarter to $1.17 billion.

Entering May, consumer purchases of the company's products at its largest retail partners in the United States were up 8%, with growth in 45 states, all major retail channels and nearly all product categories.

Net income was reported at $127.2 million, down from $177.6 million in the same quarter last year.

April 11, 2012
Scotts names Grassroots Grant recipients

Marysville, Ohio-based The Scotts Miracle-Gro Co. named more than 100 non-profit organizations as 2012 GRO1000 Grassroots Grant recipients. 

The grants will help build or enhance greenscapes in communities as part of the national GRO1000 initiative to create 1,000 community gardens and green spaces by 2018. 

A list of recipients can be found at http://www.grogood.com.

March 18, 2012
Scotts lawn care gets a new mascot

According to an article in the New York Times, Scott the Scot of Scotts Miracle-Gro’s new ad campaign was created to instruct and educate.

The ad campaign comes after the Marysville, Ohio-based lawn care giant expanded its advertising budget to about $135 million, up from about $85 million, according to the article. The character on the commercial, played by a Scottish actor named Phil McKee, provides expert advice in a Scottish accent.

February 7, 2012
Scotts sales drop in Q1

Scotts Miracle-Gro reported first-quarter net sales of $211.2 million, an 8% drop over sales of $230.2 million during the prior-year quarter.

Net loss for the industry’s largest lawn and garden supplier was $1.21 million for the first quarter, which ended Dec. 31, 2011. This compares with a net loss of $1.02 million during the first quarter of 2010.

December 7, 2011
Scotts expects rough patch in first quarter

Marysville, Ohio-based Scotts Miracle-Gro said Wednesday morning that its first quarter will see a bigger-than-expected loss, but it is maintaining its outlook for the full year.

Sales for the first quarter ending Dec. 31 are expected to decline about $30 million from the same quarter a year ago. The adjusted net loss in the quarter is expected to range from $70 million to $75 million, compared with a net loss of $65.6 million in the prior year.

The $1.20-to-$1.25 per share loss is greater than the $1.13 per share loss expected by Wall Street.

November 8, 2011
Scotts posts $53.4 million loss

Scotts Miracle-Gro, the nation’s largest supplier of lawn and garden products, reported net sales of $417.2 million for its fourth fiscal quarter, a decrease of 1% from sales in the same quarter last year. Sales in the global consumer segment declined 8% to $308 million.

Scotts LawnService reported sales of $83.4 million, an increase of 5% from the comparable quarter in 2010.

October 24, 2011
Scotts enters deal to develop more natural products

Marysville, Ohio-based Scotts Miracle-Gro will collaborate with Marrone Bio Innovations (MBI) on research and development in natural plant protection products. 

"We are excited about this new partnership with MBI because we believe it will lead to improved products that enable gardeners who choose natural options to get great results," said Bruce Caldwell, Scotts Miracle-Gro's Global R&D Leader. 

October 10, 2011
Scotts lowers forecast as consumers hold back

Marysville, Ohio-based Scotts Miracle-Gro said it expects to report a 2% decline in sales for fiscal 2011 when it issues its full-year financial results Nov. 8.

The sales shortfall, coupled with associated gross margin pressure, will likely result in adjusted net earnings in a range of approximately $2.70 to $2.75 per share, according to the company. The company had forecast earnings of about $3.00 per share back in August.

September 26, 2011
Miracle-Gro and Rachael Ray plant garden in South Philly

Miracle-Gro and celebrity chef Rachael Ray installed the Camden Children's Garden in South Philadelphia, introducing the neighborhood to fresh produce from the garden to the dinner table.

August 11, 2011
Topic of CEO conversation: The weather

The weather is always a popular topic in discussions of retail performance, but it seems this recent quarter has produced a storm of exceptionally intense meteorological commentary.

The following are just some of the examples of CEOs talking about the weather taken from news reports of the past several days:

August 8, 2011
Up against bad weather, Scotts stumbles in Q3

The challenges from unfriendly weather hit Scotts Miracle-Gro hard in the quarter ended July 2, as sales declined 10% to $1.06 billion.

The decline was driven primarily by poor weather across most of the United States throughout the duration of the lawn and garden season, as well as a more competitive promotional landscape and changes in certain retailer strategies within the mass merchandise channel, the Marysville, Ohio-based company said. 

July 6, 2011
Scotts Miracle-Gro completes new $1.7 billion credit facility

Scotts Miracle-Gro, the industry’s largest supplier of lawn and garden products, has entered into a new $1.7 billion secured revolving credit facility, scheduled to mature in 2016. This replaces its existing $2.2 billion facility, which was set to expire in February 2012.

June 30, 2011
Emerging category: 
From potted plants to pot
June 15, 2011
Scotts finds a new niche: Cannabis

Scotts Miracle-Gro, its sales hurting from the pullback in big-box expansion, is looking into new sources of revenues for its lawn and garden products. One of them, according to CEO Jim Hagedorn, is medical marijuana. 

“I want to target the pot market,” Hagedorn told the Wall Street Journal in an interview published June 14. “There’s no good reason we haven’t.”

May 12, 2011
Golden Hammer vendor winners unveiled in Vegas

Las Vegas -- Thirty-two home channel industry suppliers were recognized as Golden Hammer winners during a ceremony Wednesday in Las Vegas at the National Hardware Show.

The event also produced five vendor winners selected by the Golden Hammer retail committee in five retail disciplines. The Golden Hammer Committee Choice winners for 2011 are:

• Scotts Miracle-Gro, New Product Innovation;

• Irwin Tools, Inventory Management;

• Andersen, Serving the Pros;

• 3M, Category Management; and

May 3, 2011
Scotts grows in Q2, despite bad weather

While posting strong second-quarter results, Marysville, Ohio-based Scotts Miracle-Gro is hoping for more cooperative weather. 

Scotts posted net sales of $1.13 billion for the quarter ended April 2, up 8% from the same quarter last year. Net income increased 50% to $177.6 million.

For the quarter, company-wide adjusted gross margin rate increased 41.1% compared with 39.6% a year earlier. The improvement was due to the benefit of lower commodity costs, as well as supply chain efficiencies and a favorable product mix.

April 10, 2011
Scotts names new marketing officer

The Scotts Miracle-Gro Co. announced that Jim Lyski has been named executive VP and chief marketing officer. 

Lyski will also be accountable for advancing the Marysville, Ohio-based company's "Consumer First" strategy specifically to maximize opportunities for sustainable brand portfolio and market share growth, along with continuing to build stronger relationships with consumers.

March 31, 2011
Mark Baker goes West

March 31, 2011
Phosphorus phaseout at Scotts
March 22, 2011
Scotts plans phosphorus phaseout

Scotts Miracle-Gro Co. said it will phase out phosphorus from lawn fertilizers, including the market-leading Scotts Turf Builder brand, by the end of 2012.

Additionally, the Marysville, Ohio-based company said it will sharpen its focus on more efficient and optimized ways to use nitrogen in its lawn fertilizer products. 

March 22, 2011
Scotts plans phosphorus phaseout

Scotts Miracle-Gro Co. said it will phase out phosphorus from lawn fertilizers, including the market-leading Scotts Turf Builder brand, by the end of 2012.

Additionally, the Marysville, Ohio-based company said it will sharpen its focus on more efficient and optimized ways to use nitrogen in its lawn fertilizer products. 

March 8, 2011
Mark Baker to head OSH

Orchard Supply Hardware has named retail veteran Mark Baker as its new president and CEO. Baker will replace Robert Lynch, who left last December to take a job as president and chief operating officer at Lumber Liquidators.