Natural Grocers sees sales, transaction count increase in Q2
Loyalty program membership continues to rise, private label products make up ever-increasing share of company's sales
Victoria A.F. Camron, Supermarket News
May 06, 2022
Natural Grocers by Vitamin Cottage maintained its long tradition of steady growth in the second quarter of fiscal 2022 ended March 31, the company announced Thursday.
The Lakewood, Colo.-based natural retailer said the second quarter's financial results were stronger than expected, as net sales increased 4.9% to $271.8 million and daily average comparable store sales increased 4.3%. Among other highlights:
· Operating income increased 32.2% to $8.9 million.
· Net income increased 35.1% to $6.4 million.
· Gross margin was 28.2%, up from 27.7% in Q2 2021.
· Diluted earnings per share was $0.28, up 33.3% from $0.21 in the second quarter of fiscal 2021.
· Adjusted EBITDA increased 11.8% to $16.1 million.
The board of directors announced shareholders of record as of May 31 would receive on June 15 a cash dividend of $0.10 per share...