The company had already closed four stores in the first nine months of the year. Chief Executive Darren Lampert said the changes could weigh on near-term profitability but were intended to help GrowGeneration operate more efficiently and reach higher profitability in 2027.

GrowGeneration reported third-quarter net income of about $237,000, or break-even earnings per share, compared with a loss of $2.4 million, or 4 cents a share, a year earlier. Revenue declined to $44.8 million from $47.3 million. Analysts surveyed by FactSet had expected earnings of 1 cent a share and revenue of $45 million.

The retailer narrowed its full-year net revenue forecast to $163 million to $165 million, from a previous range of $162 million to $168 million. Analysts currently expect $165.9 million. GrowGeneration withdrew its forecast for adjusted earnings before interest, taxes, depreciation and amortization of $2 million to $3 million, citing the restructuring’s financial impact.

Shares fell 4% to $1.45 in after-hours trading Tuesday. The stock had closed down 3.8% at $1.51 and was up 0.7% year to date through the close.