MARYSVILLE, Ohio - The Scotts Miracle-Gro Company has announced results for its fiscal second quarter that ended March 29, 2014, that were driven by strong sell-in of its consumer products in both the U.S. and Europe.
Adjusted income from continuing operations increased 38 percent during the second quarter, driven by increased sales, continued margin expansion and strong control of operating expenses.
Net sales were $1.08 billion for the quarter, an increase of 7 percent compared to $1.01 billion a year ago, due to strong initial sell-in to retailers.
Fiscal year-to-date consumer purchases in the U.S., as measured by point-of-sale data from the Company's largest retail partners, were slightly down through the end of April, below internal expectations, due primarily to poor weather and a delayed start to the season.
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