Scotts Miracle-Gro (SMG) says it will fall short of its previous FY12 sales growth and earnings...
Tuesday, June 12, 2012, 4:40 PM ETScotts Miracle-Gro (SMG) says it will fall short of its previous FY12 sales growth and earnings guidance, citing slowing consumer demand following an early start to the lawn care season in Q2. Additionally, the gardening season, which traditionally peaks in mid-to late-May, has also not met expectations. Gross margins will also disappoint, due primarily to an unfavorable product mix, unplanned distribution costs and reduced leverage of fixed costs. Shares -11% AH.
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