#stayhome Maintain the distance, wash your hands, and follow instructions from the health authorities.
RSS   Newsletter   Contact   Advertise with us

Natural Grocers by Vitamin Cottage Q3 gross profit up 7.7%

Share on Twitter Share on LinkedIn
Staff Writer | August 3, 2018
Natural Grocers by Vitamin Cottage announced results for its third quarter of fiscal 2018 ended June 30, 2018.
Natural Grocers
Natural Grocers   Net sales increased $18.4 million
During the third quarter of fiscal 2018, net sales increased $18.4 million, or 9.5%, to $213.1 million compared to the same period in fiscal 2017, primarily driven by a $10.0 million increase in comparable store sales and an $8.4 million increase in new store sales.

Daily average comparable store sales increased 5.2% in the third quarter of fiscal 2018 compared to a 0.4% increase in the third quarter of fiscal 2017.

The daily average comparable store sales increase during the third quarter of fiscal 2018 was driven by a 4.0% increase in daily average transaction count and a 1.1% increase in average transaction size.

Daily average mature store sales increased 2.3% in the third quarter of fiscal 2018 compared to a 0.9% decrease in the third quarter of fiscal 2017. For fiscal 2018, mature stores include all stores open during or before fiscal 2013.

Gross profit during the third quarter of fiscal 2018 increased 7.7% over the same period in fiscal 2017 to $56.8 million. Gross profit reflects earnings after both product and occupancy costs.

Gross margin was 26.7% of sales for the third quarter of fiscal 2018 compared to 27.1% of sales for the third quarter of fiscal 2017.

The decline in gross margin was driven by lower product margin, reflecting recent promotional pricing campaigns and a shift in sales mix to lower margin products.

Net income for the third quarter of fiscal 2018 increased 233% over the same period in fiscal 2017 to $2.0 million with diluted earnings per share of $0.09.

EBITDA in the third quarter of fiscal 2018 increased 20.7% to $11.1 million compared to the third quarter of fiscal 2017.


 

MORE INSIDE POST