GrowGeneration’s Q2 Revenue Jumps 11.8% – Can Restructuring Drive Profits?
GrowGeneration Corp. (NASDAQ: GRWG), a distributor of products for indoor and outdoor hydroponic and organic gardening, reported second-quarter net revenue of $53.5 million on Thursday afternoon, reflecting an 11.8% increase quarter-over-quarter.
CEO Darren Lampert highlighted several key areas of progress, including a 110 basis point improvement in gross margin. He noted the success of strategic initiatives aimed at boosting proprietary brand sales, which rose to 21.5% of cultivation and gardening net sales.
Lampert also discussed a comprehensive restructuring plan designed to improve margins and reduce annual expenses by approximately …