Grove Collaborative Up 12% On Expansion Of Its Flagship Home Care Brand

(RTTNews) - Shares of Grove Collaborative Holdings, Inc. (GROV) are rising more than 12% Tuesday morning after the company announced major retail expansion for Grove Co., its flagship home care brand.

The sustainable consumer packaged goods company said its plastic-free household products are now on shelves at 2,200 additional stores.

After the company's expansion into Kohl's, Meijer and Giant Eagle, along with its first major retail partnership with Target, the company has more than doubled its retail door count since early 2021.

"Our latest retail expansion is a testament to our ongoing growth as an omni-channel company, and it is an important milestone for Grove as we continue on our path to transform the consumer products industry into a positive force for human and environmental good," said Stuart Landesberg, co-founder and CEO of Grove Collaborative.

GROV, currently at $3.34, has been trading in the range of 2.66-12.50 in the last 1 year.