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News Breaks | | | | December 14, 2012 | | 13:04 EDT |  | SMG | Scotts Miracle-Gro sees about $20M in commodity inflation in FY13
With more than two thirds of its commodity costs now locked for the year - including about 90% of urea -- the company said it expects approximately $20M in commodity inflation in FY13, primarily due to higher-cost inventory carried into the fiscal year. Offsetting this headwind, the company said it will increase prices in the low single digits and that it expects a benefit of approximately $15M-$20M in savings related to its product cost-out initiatives. | |
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