Scotts posts strong Q3
Scotts Miracle-Gro reported third-quarter net sales of $1.15 billion, up 9% from $1.05 billion a year ago.
Adjusted income from continuing operations for the third quarter ended June 29 was $153.9 million, up 53% from $100.8 million in the same period from last year.
"The level of consumer engagement we’ve seen since April has erased the deficit we had after a slow break to the season in March," said chairman and CEO Jim Hagedorn. "In each area of the business, our team has done an outstanding job executing our plan this year. With less than two months remaining in our fiscal year, we now feel comfortable projecting that our full-year earnings should be at the mid-point of our guidance of $2.50 to $2.75 per share."
The company expects fiscal 2013 net sales ranging from a 1% decrease to an increase of 1% compared with a year ago.
Fishcat Farm rolls out new organic fertilizer
Fishcat Farm, a catfish production raceway based in Arkansas, has developed a new organic fertilizer product called Fishnure, which is made from solid fish manure captured from the raceways.
The manure, which is based off a high-protein diet and is decomposed with oat straw to create a putty-like substance, is also combined with a carbon source, Mississippi Delta clay and inoculants to attain a proper carbon to nitrogen ratio.
According to the company, Fishnure can be used as a solid or a liquid, and can be applied to crops, lawn or garden via pouring or spraying methods. The process does not require brewers or additional microbe activators.
"Unlike regular compost, the organic matter that is bound to the microscopic clay particles in Fishnure will not decompose further and will remain in the soil and increase the total organic matter," stated the company. "Increased organic matter in the soil will increase fertility, water retention, water absorption, microbial life and all the other benefits of good fertile soil."
The company touts the economical value of the product, which can cover 7,000 sq. ft. using 1 pound of product when mixed in water and applied with a hose end sprayer.
GE whips up Reimagining Home Campaign
GE Appliances has launched a new marketing campaign designed to showcase the company’s products in a context that reflects the consumer’s changing needs, including a new definition of the kitchen as a living space.
“The national campaign is designed to communicate a key element of our business strategy—one that is obsessed with innovation designed around what the consumer needs,” says Eddie Martin, CMO for GE Appliances. “The work introduces the brand idea of ‘Reimagining Home’ through the lens of our three new products.“
The appliances in question include a new stainless-interior dishwasher with 102 cleaning jets, a French-door refrigerator with hands-free autofill and the gas slide-in range with tri-ring burner.
“Through our research, we’ve learned that people really want their kitchen space to be a reflection of their home space,” says Leanne Dugan, GE Appliances’ manager of consumer insight. “Consumers used to want their appliances to stand out. Today, they want them to be less conspicuous. They want the design of appliances to have a more modern, clean look in keeping with the rest of their home.”
In keeping with these findings, GE’s new appliances sport a redesigned transitional appeal.
The Reimagining Home brand campaign, launched Aug. 5, is set to last 14 weeks and will be dessiminated through TV commercials, social media and a new interactive website where users can acquire product information, design ideas, demo videos and infographics.