Scotts Miracle-Gro Jumps Most in Decade on Pot-Supplies Rebound
- Weedkiller sales rise 20 percent, defying U.S. cancer verdicts
- Pot-supply unit benefits from California slide to black market
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Scotts Miracle-Gro Co. rose the most in a decade after its Roundup herbicide and marijuana-supplies business rebounded from sales slumps, boosting earnings above expectations.
Increased advertising to help counter the negative publicity generated by concerns about Roundup’s safety contributed to a 20 percent rise in quarterly sales of the weedkiller, Chief Executive Officer Jim Hagedorn said on a conference call with analysts Wednesday to discuss results.