Columbia Norml
  • Home
  • Norml News
  • Medical News
  • National News
  • User Manuals
  • Privacy Policy
5e03d5e25c-826x470
April 25, 2023

Boulder’s AeroGrow reports hydroponics revenue boost for owner Scotts Miracle-Gro

admin Medical Marijuana News

5e03d5e25c.jpeg

Published: Aug 15, 2017, 5:53 pm • Updated: Aug 15, 2017, 5:53 pm

By Shay Castle, Daily Camera

Boulder-based AeroGrow, a maker of indoor gardens, reported revenue of $2.5 million for the quarter, an increase of 14 percent from last year. Sales were boosted by a nearly 25 percent growth in direct-to-consumer sales, as well as stronger sell-through in brick-and-mortar.

“The strong consumer demand and retailer support that we have experienced over the past year has given us an outstanding start to our fiscal year,” President and CEO J. Michael Wolfe said in a statement.


Eye on Scotts

  • EPA won’t regulate pesticides on cannabis crops, leaving consumers at risk
  • Scotts Miracle-Gro eyes global leadership position in hydroponics sector
  • Scotts Miracle-Gro homing in on ‘big vision’ for hydroponics as state-legal cannabis grows
  • Cannabis companies flock to Canada as US laws keep them off stock exchange
  • Scotts Miracle-Gro reports success in hydroponics sector, keeps cannabis plans at forefront

Scotts Miracle-Gro is majority owner of AeroGrow, which is overseen by subsidiary Hawthorne Gardening Co. In recent years, the lawn-and-garden giant has worked to establish itself in the hydroponics sector, a popular method for growing cannabis.

Losses were also up as spending on advertising, infrastructure and personnel grew. AeroGrow saw $728,000 in loss during the quarter, up from $653,000 last year. Cash on hand was $8.2 million.

The company expects retail sales to grow with expanded distribution into Macy’s, Kohl’s and Home Depot in the U.S. and Hudson’s Bay and Canadian Tire stores in Canada.

Shares of AeroGrow were up more than 12 percent on Tuesday, closing at $2.53.

Cannabist staff contributed to this report.

This story was first published on DailyCamera.com

Topics: AeroGrow International, Boulder, Colorado, Hawthorne Gardening Co., hydroponics, Scotts Miracle-Gro

Massachusetts Recreational Marijuana Retail Delayed Again Guess Who’s the Only Celeb Demi Lovato Lets Smoke Weed in Her House?

Related Posts

efc7f2ab2f-826x470

Medical Marijuana News

Washington State Health Department misfires on anti-pot message targeting Latinos

4c38a4e7af-826x470

Medical Marijuana News

More prime shopping time: Colorado Springs dispensaries may get extended hours

826b25dbe5-826x470

Medical Marijuana News

CBD blending in at juice and smoothie bars

Recent Posts

  • be-careful-shipping-drugs-through-the-mail-this-holiday-season_1Be Careful Shipping Drugs Through the Mail This Holiday Season
  • ‘Pharma Bro’ Martin Shkreli Found Guilty on 3 Fraud Charges
  • efc7f2ab2f-826x470Washington State Health Department misfires on anti-pot message targeting Latinos
  • What To Do With Seized Marijuana Grow Equipment?
  • Radical Rant: UK Cannabis Social Clubs Are Leading the Charge for Legalization
  • 4c38a4e7af-826x470More prime shopping time: Colorado Springs dispensaries may get extended hours
  • 2017-high-times-cannabis-cup-canada-day-1-recap_12017 HIGH TIMES Cannabis Cup Canada: Day 1 Recap
  • 826b25dbe5-826x470CBD blending in at juice and smoothie bars
  • Cannabis-Loving Catholics Plan to Defy Church, Burn Marijuana Oil Inside DC Basilica
  • Stoner Sex: Porn, Choking, Painful Intercourse & Weed Whores

Categories

  • Medical Marijuana News
  • National Marijuana News
  • NORML News
Columbia Norml