Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 86

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 sold and occupancy costs

			230,426

			218,751

			11,675

			5.3

			Gross profit

			98,279

			90,331

			7,948

			8.8

			Store expenses

			71,719

			67,575

			4,144

			6.1

			Administrative expenses

			10,949

			9,545

			1,404

			14.7

			Pre-opening expenses

			24

			364

			(340
			)

			(93.4
			)

			Operating income

			15,587

			12,847

			2,740

			21.3

			Interest expense, net

			(694
			)

			(1,052
			)

			358

			(34.0
			)

			Income before income taxes

			14,893

			11,795

			3,098

			26.3

			Provision for income taxes

			(3,288
			)

			(2,586
			)

			(702
			)

			27.1

			Net income

			$
			11,605

			9,209

			2,396

			26.0
			%

Net sales

Net sales increased $19.6 million, or 6.3%, to $328.7 million for the three months ended June 30, 2025 compared to $309.1 million for the three months ended June 30, 2024, due to a $19.0 million increase in comparable store sales and a $3.4 million increase in new store sales, partially offset by a $2.8 million decrease in net sales related to closed stores. We estimate that net sales for the three months ended June 30, 2025 were adversely impacted by the disruption to our operations resulting from the UNFI cybersecurity incident, as discussed above in “Industry Trends and Economics,” by approximately $3.5 million to $4.0 million. Daily average comparable store sales increased 7.4% for the three months ended June 30, 2025 compared to the three months