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Good morning smg grew Hawthorne division by 48

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remember my name   Thursday, 08/05/21 10:32:38 AM
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Good morning smg grew Hawthorne division by 48 percent yr over yr .
12 per sequentially . Good numbers but margins came down . Commodities are up .
We seen this before in Grwg . My hope is margin stay flat and we are starting
To take market share from Hawthorne . That’s been the trend . I have seen Grwg margins good down
Before but sales exploded . Stock price went higher .
This time may not be the case bc the USA is so much different from
Canada hydro market . I believe at the end of the day we are ok but
I usually get my Q from Hawthorne . But we are down 40 percent from its highes so
We should be ok .
Sorry for caution but the back half of the year margins
Should work it’s self out and I’m thinking Grwg can pass off higher
Cost in the USA anyway . Plus they are the lost cost provider over Scott’s .
We can actually do better bc of the lower pricing .
Retailers should be ok anyway .



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