Scotts sales finish the year strong
Scotts Miracle-Gro quite literally made up for lost time in the second half of the year, finishing with fiscal year sales essentially flat from the previous year.
The company’s full year net sales were $2.82 billion, after a 9% increase in the second half, including a 10% increase in the fourth quarter.
"Despite dramatic delays in our season due to poor spring weather, consumers were highly engaged in the second half of the year, allowing us to exceed our guidance," said CEO Jim Hagedorn." He also pointed to the success of Project Max, the company’s cost-cutting and productivity initiative.
Still, the CEO described the consumer marketplace as "soft." The company’s outlook calls for sales growth of 2% to 3% in fiscal 2014.
In the fourth quarter, Scotts sales of $443.0 million, compared to sales of $401.2 million in the fourth quarter last year. The net income line showed a loss of $19.4 million, compared to a loss of $40.1 million in the same quarter last year.
For the full year, the company’s net income was $161.1 million, up from $106.5 million in fiscal 2012.
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Granite Gold expands distribution
Granite Gold’s nationwide distribution expanded with the addition of Shaw’s Supermarkets in the Northeast and Stater Bros. Markets in Southern California.
Shaw’s Supermarkets, which has more than 120 stores throughout Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, now carries Granite Gold Daily Cleaner and Granite Gold Polish.
Stater Bros. Markets — the largest privately owned supermarket chain in Southern California — now carries Granite Gold Daily Cleaner in more than 160 stores, from Los Angeles and Orange counties to Riverside and San Bernardino counties and south to San Diego County.
Granite Gold Polish quickly and easily enhances the shine and luster of granite, marble, travertine and all other natural-stone and quartz surfaces, the San Diego-based company said.
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Tool King opens e-commerce system to outsiders
Lakewood, Colo.-based multichannel retailer Tool King made a successful transition for a brick-and-mortar retailer to online super store. Now it’s exploring another frontier — e-commerce service provider.
“In crafting the technology we needed to expand our own company, we realized the infrastructure we created facilitates a powerful and unique online selling platform,” said Don Cohen, CEO of Tool King.
Tool King’s proprietary Facilitail E-Commerce Solution empowers small and large businesses to connect with new customers, both domestically and globally, the company says. It allows companies to sell direct to consumers without compromising wholesaler relationships. Distributors can sell direct on most major shopping sites via Tool King. After engaging with select vendors throughout 2013, Tool King is now opening its onboarding process to new potential vendors, Cohen said.
“We designed our distributor program to be win-win," Cohen said. "It’s easy to implement and we don’t charge participation fees; we only earn a profit when sales are generated.”
Today, more than 350 active distributors offer more than 250,000 products through Tool King’s Facilitail program. Tool King also offers other services to clients, including fully managed, customized Web stores tailored to each individual company. Tool King has developed and launched more th 30 custom sites and says it plans to launch more.