Welcome to our dedicated page for Growgeneration news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on Growgeneration stock.
GrowGeneration Corp. (symbol: GRWG) is a leading company in the United States that owns and operates retail hydroponic and organic gardening stores. The company specializes in the marketing and distribution of a wide range of horticultural, organic, lighting, and hydroponic products. These include lighting fixtures, nutrients, seeds, growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Founded with a vision to support commercial and urban cultivators, GrowGeneration has established itself as a go-to resource for those growing specialty crops, including organics, greens, and plant-based medicines. As of March 27, 2020, the company operated 27 retail and commercial hydroponic/gardening centers, spanning multiple states such as Colorado, California, Michigan, Nevada, Washington, Oregon, Oklahoma, Rhode Island, Maine, and Florida.
In addition to its brick-and-mortar locations, GrowGeneration also operates an e-commerce store, growgen.pro, which offers an extensive selection of products to meet the needs of growers nationwide. The company caters to a diverse customer base, from hobbyist gardeners to large-scale commercial operations.
GrowGeneration Corp. is divided into two primary segments. The Cultivation and Gardening segment focuses on the core business of hydroponic and organic gardening products, while the Storage Solutions segment provides benching, racking, and storage solutions, ensuring efficient space utilization for growers.
With a commitment to innovation and quality, GrowGeneration continues to expand its footprint and enhance its product offerings. The company has formed strategic partnerships and continually invests in new technologies to better serve its customers. These efforts have positioned GrowGeneration as an industry leader in the fast-growing market for hydroponic and organic gardening supplies.
Financially, the company has shown robust growth, leveraging its extensive network of retail and online platforms to drive sales and profitability. Recent achievements include the expansion of its retail locations and the introduction of new product lines that cater to the evolving needs of modern cultivators.
Stay updated with the latest news and developments from GrowGeneration Corp. as the company continues to innovate and lead the way in hydroponic and organic gardening solutions.
GrowGeneration Corp. (NASDAQ: GRWG) has announced the acquisition of inventory and equipment from Community Garden & Greenhouse in Bozeman, Montana. This deal includes taking over an existing store location, which is part of GrowGen's strategy to expand its retail footprint. CEO Darren Lampert expressed enthusiasm about continuing the legacy of Community Garden & Greenhouse and enhancing GrowGen's offerings. With 60 stores across 17 states, GrowGen aims to provide top-quality products and services to both commercial and home-grow customers.
GrowGeneration Corp. (NASDAQ: GRWG) reported a full-year net revenue of $278.2 million, at the high end of guidance, but experienced a significant net loss of $163.7 million for 2022. The fourth quarter saw revenues fall to $54.5 million, a 40% decrease, with same-store sales down 51.9%. The gross profit for the year also declined to $70.3 million, representing 25.3% of revenues. The company projects 2023 revenues between $250 million and $270 million, with adjusted EBITDA expected to improve from a loss of $4 million to a potential profit of $1 million.
GrowGeneration Corp. (NASDAQ: GRWG) will announce its financial results for the fourth quarter and full year ending December 31, 2022, on March 15, 2023, after market close. A live conference call will follow at 4:30 p.m. EST, accessible via phone or webcast. GrowGeneration operates 60 specialty hydroponic and organic garden centers across 16 states, including California and Michigan. These centers provide a range of products for both commercial and home growers, contributing to the company's position as the largest in its sector in the U.S.
GrowGeneration Corp. (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers in the U.S., has appointed Clifton Tomasini as Vice President of Operations. He brings extensive experience from his previous roles in the hydroponics industry, including building Quest and managing supply chain operations at Therma-Stor LLC. Tomasini aims to enhance operational efficiency and customer satisfaction at GrowGen, which operates 60 stores across 16 states and an online superstore. The company sells a wide range of products for both commercial and home growers, emphasizing high-quality offerings to meet growing demand.
GrowGeneration Corp. (NASDAQ: GRWG) announced the acquisition of inventory and equipment from The Grow Store, a long-established hydroponic retailer in Traverse City, Michigan, enhancing its market presence in northern Michigan. This strategic move aims to better serve the local grower community, supporting GrowGen's commitment to high-quality products and extensive customer service. With 60 stores across 16 states, GrowGen continues to expand its footprint in the hydroponics market, reinforcing its position as a leading specialty retailer in the sector.
GrowGeneration Corp. (NASDAQ: GRWG) has appointed Aaron Hook as the new Vice President of Sales, aiming to enhance revenue growth and sales strategies. With over 15 years of experience in controlled environment agriculture, Hook previously held leadership roles at Sunlight Supply and Hawthorne. Co-Founder Darren Lampert expressed enthusiasm about Hook's appointment, emphasizing his valuable background in the industry. GrowGeneration operates 59 stores across 16 states and serves as a key supplier in the hydroponics and organic gardening market.
GrowGeneration Corp. (NASDAQ: GRWG), the leading chain of hydroponic and organic garden centers in the U.S., will participate in the 25th Annual ICR Conference from January 9-11, 2023, in Orlando, Florida. CEO Darren Lampert will engage in a live fireside chat on January 10, 2023, at 11:30 AM ET, accessible via the Company’s Investor Relations website. GrowGen operates 59 stores across 16 states, specializing in hydroponic supplies and organic gardening products, and also runs an online superstore for cultivators.
GrowGeneration Corp. (NASDAQ: GRWG) opens its 60th store in Mount Holly, New Jersey, on November 21, 2022, expanding to 16 states. The 7,700-square-foot store will feature vertical farming demonstrations and support for growers. CEO Darren Lampert highlighted New Jersey's potential market growth, citing strong medical patient bases and numerous conditional licenses. The company aims to aid social equity license holders through educational programs, with 30 active participants in the region to date.
GrowGeneration Corp. (NASDAQ: GRWG) has partnered with Grodan, becoming the first Platinum Certified dealer of Grodan's stone wool growing solutions in the U.S. This partnership aims to enhance GrowGen's market position by providing innovative and sustainable products to its customers at competitive prices. GrowGen currently operates 59 specialty hydroponic and organic gardening centers across the United States. The partnership is expected to promote Grodan’s advanced crop steering products through GrowGen's extensive retail footprint.
GrowGeneration Corp. (NASDAQ: GRWG) will participate in the 11th annual Marijuana Business Conference and Cannabis Expo (MJBizCon) from November 16-18, 2022, at the Las Vegas Convention Center. The company plans to showcase its leading products such as Charcoir coco coir and Power Si. Additionally, MMI Agriculture will debut a new single bench system at the expo. Senior management, including CEO Darren Lampert and President Michael Salaman, will attend. GrowGen currently operates 59 stores across 15 states and offers a wide range of hydroponic and organic gardening products.
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