Scotts Miracle-Gro sales drop

The Scotts Miracle-Gro Company had sales of $1.53 billion for the second quarter of fiscal 2023, a decrease of 9% compared to $1.68 billion in the second quarter of fiscal 2022. The US consumer segment sales decreased 2% year over year to $1.36 billion and the Hawthorne segment sales decreased 54% to $93 million. Overall gross margin rate for the quarter was 26.9% compared to 35.1% in the year-ago period. Net income was $109.4 million compared to $276.5 million in the prior-year quarter.