GRWG - Hydroponic Giant GrowGen Faces Q3 Challenges: A Closer Look at Financial Results | Benzinga
While maintaining a presence in 18 states with 50 stores, Denver-based GrowGeneration Corp. (NASDAQ: GRWG) reported a 13% decrease in net sales, totaling $55.7 million. Comparable store sales dropped by 14.4% compared to the previous year.
The U.S. chain of specialty hydroponic and organic garden centers released its Q3 2023 financial results late Wednesday.
GrowGen’s Financial Performance Highlights
The company saw improvements in gross profit margin, reaching 29.1%, a 320-basis point increase from the prior year.
Despite a net loss of $7.3 million (slightly higher than the previous year's $7.2 million), adjusted EBITDA ...