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Customer Retention Drives GrowGeneration's Q3 Results: Sales Up, Revenue Down

Customer Retention Drives GrowGeneration's Q3 Results: Sales Up, Revenue Down

客戶留存推動了growgeneration第三季度的業績:銷售上升,營業收入下降
Benzinga ·  11/13 20:46

GrowGeneration Corp. (NASDAQ:GRWG), a major U.S. retailer of hydroponic and organic gardening products, reported its Q3 2024 financial results Tuesday afternoon with a mixed performance. Net sales declined 10.2% year-over-year, totaling $50 million, down from $55.7 million in the same quarter of 2023.

growgeneration公司(納斯達克:GRWG),一家主要的美國水培和有機園藝產品零售商,於週二下午公佈了2024年第三季度的財務業績,表現喜憂參半。淨銷售額同比下降10.2%,總計5000萬,低於2023年同季度的5570萬。

The drop was driven by the closure of 25 retail locations as part of the company's ongoing restructuring. However, positive momentum was seen in same-store sales, which grew by 12.5%, buoyed by strong commercial sales and robust customer retention.

下降的原因是公司在持續重組中關閉了25個零售店。不過,門店銷售出現積極勢頭,同比增長12.5%,主要得益於強勁的商業銷售和良好的客戶留存。

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Gross Profit And Margins Under Pressure

毛利潤和利潤率面臨壓力

Gross profit fell by 33.2%, decreasing from $16.2 million in Q3 2023 to $10.8 million in Q3 2024. The gross profit margin also contracted significantly, dropping to 21.6% from 29.1% in the prior year.

毛利潤下降了33.2%,從2023年第三季度的1620萬降至2024年第三季度的1080萬。毛利潤率也顯著收縮,從去年的29.1%降至21.6%。

The decline was attributed to restructuring activities, including inventory disposal costs and reduced vendor discounts. Despite the margin pressure, proprietary brand sales increased to 23.8% of cultivation and gardening net sales, compared to 19.4% in the same period last year.

該下降歸因於重組活動,包括庫存處置成本和減少的供應商折扣。儘管利潤率承壓,自有品牌銷售佔園藝和種植淨銷售額的比例上升至23.8%,而去年同期爲19.4%。

Operating Expenses Cut, Net Loss Widens

營業費用削減,淨虧損擴大

Operating expenses were reduced by 5.4%, falling to $22.9 million as GrowGeneration continued to streamline its operations through store consolidations and cost-cutting measures.

營業費用減少了5.4%,降至2290萬,growgeneration通過門店整合和削減成本措施持續優化其操作。

However, these efforts were not enough to offset the impact of lower sales, as the company reported a net loss of $11.4 million, a widening from the $7.3 million loss in Q3 2023. Adjusted EBITDA also showed a deeper loss of $2.4 million, compared to a $0.9 million loss in the prior year.

然而,這些努力不足以抵消銷售下滑的影響,公司報告了1140萬美元的淨虧損,較2023年第三季度的730萬美元虧損有所擴大。調整後的EBITDA也顯示出240萬美元的更大虧損,而去年同期爲90萬美元的虧損。

Read Also: Safe Harbor Financial's $3.3M Comeback: Turning Losses Into Profit Despite Revenue Drop

另請閱讀:Safe Harbor Financial的330萬美元逆襲:儘管營收下降,但將虧損轉化爲利潤

Cash Reserves Strong Despite Strategic Shifts

儘管戰略調整,現金儲備仍然強勁

The company ended the quarter with a solid cash position, reporting $55.2 million, cash equivalents and marketable securities, with no debt.

公司在本季度結束時擁有穩定的現金狀況,報告現金、現金等價物和可出售證券合計5520萬美元,且沒有負債。

CEO Darren Lampert highlighted the company's financial stability and strategic progress. "Our actions to date have successfully positioned GrowGen for sustainable growth in 2025. We are tracking well against our goal to increase proprietary brand sales to 35% next year."

首席執行官達倫·蘭佩特強調了公司的財務穩定性和戰略進展。「我們的行動成功地爲GrowGen在2025年可持續增長奠定了基礎。我們正朝着明年將專有品牌銷售提升至35%的目標穩步推進。」

The company is gearing up for the launch of its e-commerce platform in Q4 2024, aiming to enhance its digital presence and boost B2B sales. With 19 store consolidations completed in fiscal 2024, GrowGeneration aims to optimize its margins and build a leaner, more profitable operation going forward.

公司正準備在2024年第四季度推出其電子商務平台,旨在提升其數字存在感並推動20億銷售。GrowGeneration已在2024財政年度完成19家門店的整合,旨在優化利潤率,建設一個更精簡、更盈利的控件。

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譯文內容由第三人軟體翻譯。


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