AeroGrow International, Inc (OTCMKTS:AERO) Pronounces Its Financial Results For 2019.
There was a major decline in revenue represented by a figure of about $4.4 million. Compared to a similar period in the previous year, this was a terrible performance.It is representative of about 48%.
This President & CEO J. Michael Wolfe has spoken concerning the matter. He says that the loss in line with the company’s business operations amounted to about $1.1 million. According to the official, this wasn’t impressive at all. He drew a close reference to the performance that was showcased over the previous year. During the time, this company obtained $672K in profit. Wolfe says that the headline for the quarter will insinuate this major decline in sales.
Defending the performance
The official says that a decline in sales is one of those reports they give with a heavy heart. However, he defends the company outlining that what happened was something to do with poor timing. The official believes that they should have thought deeply before making decisions regarding their retail landscape.
The passage of time has witnessed the company collaborate with some of the major retail partners. Some of these include Kohl’s and Bed and Amazon.com, Inc (NASDAQ:AMZN).
This company says that these are good businesses to collaborate with when it comes to making shipments. It has been relying on them in the shipment of its load-in orders for the holiday season.
During the August/September period, this business guru entrusted these retailers with the shipment of a huge deal of its load-ins. In the current year as well, the company has also decided to make large shipments through them. The same will be going on from November to December.
The Gross Margin of the company turned out to be a major disappointment. This had everything to do with the decline in the quarterly sales as well as the channel shift. However, the company continues hoping for better times ahead. It says that it will be looking forward to its holiday sales.
There is also the brighter side of things. There were still some areas that performed pretty well including sell-thru results to the customers.