Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 362

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 3
Chunk 362
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,585

			89,251

			7.2
			%

			Cost of goods sold and occupancy costs

			932,959

			876,775

			56,184

			6.4

			Gross profit

			397,877

			364,810

			33,067

			9.1

			Store expenses

			290,491

			277,396

			13,095

			4.7

			Administrative expenses

			44,353

			38,715

			5,638

			14.6

			Pre-opening expenses

			1,043

			1,722

			(679
			)

			(39.4
			)

			Operating income

			61,990

			46,977

			15,013

			32.0

			Interest expense, net

			(3,063
			)

			(4,176
			)

			1,113

			(26.7
			)

			Income before income taxes

			58,927

			42,801

			16,126

			37.7

			Provision for income taxes

			(12,483
			)

			(8,866
			)

			(3,617
			)

			40.8

			Net income

			$
			46,444

			33,935

			12,509

			36.9
			%

Net sales

Net sales increased $89.3 million, or 7.2%, to $1,330.8 million for the year ended September 30, 2025 compared to $1,241.6 million for the year ended September 30, 2024, due to an $86.1 million increase in comparable store sales and a $12.7 million increase in new store sales, partially offset by a $9.6 million decrease in net sales related to closed stores. Daily average comparable store sales increased 7.3% for the year ended September 30, 2025 compared to an increase of 7.0% for the year ended September 30, 2024. The daily average comparable store sales increase in