Lakewood, CO – Natural Grocers by Vitamin Cottage announced a net sales increase of 12.3% to $215.9 million for the second quarter ending March 31. Same-store sales increased by 7.1% and an increase in promotion was credited for the results.
“Sales momentum continued to accelerate during the second quarter, which, combined with more focused pricing and promotional activities, generated year-over-year growth in both EBIDTA (which grew 1.7% to $13.1 million) and diluted earnings per share (of 15 cents),” said Kember Isely, co-president.
“We fine-tuned our pricing and promotional investments during the second quarter, resulting in an improved gross margin relative to the first quarter while delivering enhanced value to our customers,” Isely said. “Our strong sales growth and prudent new store expansion strategy enabled us to leverage expenses to support improved earnings.”
The company opened three new stores, resulting in 7.4% store growth for the 12-month period ending March 31. Natural Grocers is now operating 146 stores in 19 states and has eight signed leases for stores to open in Colorado, Iowa, Oregon and Texas.