Company: NGVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015486
Chunk: 37

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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11,391

			12.6

			Store expenses

			72,755

			69,204

			3,551

			5.1

			Administrative expenses

			11,023

			9,522

			1,501

			15.8

			Pre-opening expenses

			417

			370

			47

			12.7

			Operating income

			17,553

			11,261

			6,292

			55.9

			Interest expense, net

			(750
			)

			(1,177
			)

			427

			(36.3
			)

			Income before income taxes

			16,803

			10,084

			6,719

			66.6

			Provision for income taxes

			(3,702
			)

			(2,123
			)

			(1,579
			)

			74.4

			Net income

			$
			13,101

			7,961

			5,140

			64.6
			%

Net sales

Net sales increased $27.7 million, or 9.0%, to $335.8 million for the three months ended March 31, 2025 compared to $308.1 million for the three months ended March 31, 2024, due to a $27.2 million increase in comparable store sales and a $3.5 million increase in new store sales, partially offset by a $2.9 million decrease in net sales related to closed stores. Daily average comparable store sales increased 8.9% for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The daily average comparable store sales increase resulted from a 5.9% increase in daily average transaction count and a 2.8% increase in daily average transaction size. Comparable store average transaction size was $48.94 for the three months ended March 31, 2025.

Gross profit

Gross profit increased $11.4 million, or 12.6%, to $101.7 million for the three months ended March 31, 2025 compared to $90.4 million for