Michael Wolfe, who is the President as well as CEO of AeroGrow International, Inc. (OTCMKTS:AERO), mentioned that the firm’s sell-thru report was notable in past holiday season. However, they expected the sales to have come better compared to posted numbers in the reported quarter.
AeroGrow mentioned that there are two major factors that resulted in lower than expected sales. The firm loaded more offerings earlier compared to the entries in the past, when the sales surged over 106%. Amazon, the largest client of firm, lately initiated a new practice of keeping fewer days of stock from major vendors. This resulted in firm closing fewer consignments with Amazon in the reported quarter as against the holiday season sell-thru for its offerings.
Early sell-thru at Amazon in 2017 has been outstanding and they expect to remain a promising growth engine for firm. However, interim sales may be impacted as they continue to report changes to inventory levels.
AeroGrow CEO mentioned that their new offerings received strong response, especially the introduction of the world’s initial Wi-Fi supported indoor garden. Additionally, the company introduced a series of gardens that exhibit colorful, high-end touches, a prime contributor to its progress in the housewares channel.
Wolfe added that he has never been so exhilarated about AeroGrow future. In Direct-to-Consumer segment as well as with Amazon, they have two established channels that persist to progress and post significant profitability. In addition, they have now shown that they can be successful in-store, a scalable mode that can progress notably in the upcoming years. And the firm also had a promising start to its worldwide distribution model.
Finally, AeroGrow is capitalized, with adequate funds and no debt following strong performance and the warrant utilized by The Scotts Miracle-Gro in last November. Keeping in record, the strong sales, excellent capitalization, product line and distribution expansion, the firm is in a remarkable position to progress notably in FY2018 and beyond.
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