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The sequential and year-over-year declines continue to be driven by a decrease in direct-to-consumer orders resulting from lower advertising spend.
May 16, 2024
By: Lianna Albrizio
Associate Editor
Net sales for Grove Collaborative were $53.5 million – down 10.5% in Q1 2024 compared with the prior-year quarter – and down 25.2% year-over-year. According to the company, the sequential and year-over-year (YoY) declines continue to be driven by a decrease in direct-to-consumer orders resulting from lower advertising spend throughout 2023 and the first quarter of 2024. Company officials said Grove spent a “record low” on advertising as a percentage of revenue in the first ...
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