Grove Collaborative Holdings, Inc. (NYSE:GROV) Q4 2022 Earnings Call Transcript

Stuart Landesberg: I think that’s well said, Sergio. I will just say, I think at a high level, Dana, we see that the push towards zero waste from consumers is continuing to be a big sale for us. And I think that’s something, something like 84% of US consumers want to see action taken on single use plastic. And our brand is such a clear market leader in the push away from single use plastic that it keeps us in every conversation. And I think, when I look at partnerships across the board, I think, look, we’re learning into retail, we have a little over a decade of experience in DCC and not even two years in retail. And so as we continue to learn into the channel, I think the core thing that allowed us to be so successful in gaining distribution, in growing skew counts and continuing to put up good velocity numbers really is that intrinsic consumer value proposition of being a product that answers an unmet need in terms of zero waste that can be available at a really approachable price point.

And that has extraordinary efficacy that drives high repeat. And so I think, Sergio’s right, the rollout has been a little bit slower than we had originally anticipated, but growth rates in this segment are still very healthy. We expect them to continue to be healthy and the core thesis that’s allowing us to grow is very much intact. I think you had a third question there, Dana, and I think, I think I lost it somewhere in.

Dana Telsey: No, no, we can take that offline. No problem. I’ll pass it on. Thank you.

Operator: Thank you. And there are no further questions at this time. I’ll hand the floor back to Stuart Landesberg to conclude. Thank you.

Stuart Landesberg: Thank you much. Well thanks everyone for listening. Really looking forward to a very exciting year through 2023. Many thanks to you all for your support and I hope you all go check out grove.comwellness for our new wellness launch today. Thanks very much.

Operator: Thank you. And that concludes today’s conference. All parties may disconnect. Have a great day.