Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 88

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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 months ended June 30, 2025 compared to $1.1 million for the three months ended June 30, 2024.

Income taxes

Income tax expense increased $0.7 million for the three months ended June 30, 2025 to $3.3 million compared to $2.6 million for the three months ended June 30, 2024. The Company’s effective income tax rate was 22.1% and 21.9% for the three months ended June 30, 2025 and 2024, respectively.

Net income

Net income was $11.6 million, or $0.50 diluted earnings per share, for the three months ended June 30, 2025 compared to $9.2 million, or $0.40 diluted earnings per share, for the three months ended June 30, 2024.

Nine months ended June 30, 2025 compared to the nine months ended June 30, 2024

The following table summarizes our results of operations and other operating data for the periods presented, dollars in thousands:

			Nine months ended

			June 30,

			Change in

			2025

			2024

			Dollars

			Percent

			Statements of Income Data:

			Net sales

			$
			994,695

			918,924

			75,771

			8.2
			%

			Cost of goods sold and occupancy costs

			695,844

			649,476

			46,368

			7.1

			Gross profit

			298,851

			269,448

			29,403

			10.9

			Store expenses

			218,000

			204,791

			13,209

			6.4

			Administrative expenses

			33,486

			28,474

			5,012

			17.6

			Pre-opening expenses

			877

			1,272

			(395
			)

			(31.1
			)

			Operating income

			46,488

			34,911

			11,577

			33.2

			Interest expense, net

			(2,367
			)

			(3,