Company: NGVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015486
Chunk: 89

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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4

			Dollars

			Percent

			Statements of Income Data:

			Net sales

			$
			665,990

			609,842

			56,148

			9.2
			%

			Cost of goods sold and occupancy costs

			465,418

			430,725

			34,693

			8.1

			Gross profit

			200,572

			179,117

			21,455

			12.0

			Store expenses

			146,281

			137,216

			9,065

			6.6

			Administrative expenses

			22,537

			18,929

			3,608

			19.1

			Pre-opening expenses

			853

			908

			(55
			)

			(6.1
			)

			Operating income

			30,901

			22,064

			8,837

			40.1

			Interest expense, net

			(1,673
			)

			(2,071
			)

			398

			(19.2
			)

			Income before income taxes

			29,228

			19,993

			9,235

			46.2

			Provision for income taxes

			(6,189
			)

			(4,277
			)

			(1,912
			)

			44.7

			Net income

			$
			23,039

			15,716

			7,323

			46.6
			%

Net sales

Net sales increased $56.1 million, or 9.2%, to $666.0 million for the six months ended March 31, 2025 compared to $609.8 million for the six months ended March 31, 2024, due to a $53.8 million increase in comparable store sales and a $6.4 million increase in new store sales, partially offset by a $4.1 million decrease in net sales related to closed stores. Daily average comparable store sales increased 8.9% for the six months ended March 31, 2025 compared to