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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. 

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.

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.

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. 

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. 

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.

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.