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The Scotts Miracle-Gro Company
SMG today provided a financial update for fiscal 2012 to reflect the pressures driven by lower-than-expected sales and unfavorable product mix.
The Company said consumer purchases of its products at its largest retail partners in the U.S. are up 3 percent on a year-to-date basis, compared with 8 percent entering May. As a result, it expects to fall short of its previous guidance of 6 to 8 percent sales growth as well as adjusted earnings of $2.65 to $2.85 per share. An updated outlook will be provided when ScottsMiracle-Gro issues its third quarter financial results in early August.
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