The following is a summary of the Natural Grocers by Vitamin Cottage, Inc (NGVC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Natural Grocers reported a 9.7% increase in net sales to $309.1 million in Q3 FY 2024.

• Daily average comparable store sales grew by 7.2%.

• Operating margin improved by 100 basis points, and diluted earnings per share increased by 29% to $0.40.

• Adjusted EBITDA rose by 32.8% to $22.2 million.

Business Progress:

• Recorded the second consecutive quarter with items count growth and the fourth consecutive quarter of comparable sales growth above 6%.

• Launched 33 new Natural Grocers brand items including a new cereal line.

• Opened a new store in Incline Village, Nevada and completed major remodels in Oklahoma City, Temple, Texas, and Independence, Missouri.

Opportunities:

• Continued leveraging the {N}power Rewards program to increase net sales penetration to 80%.

• Expanded the Natural Grocers branded products, which now account for 8.5% of total sales.

• Planning to open 4 new stores and relocate or remodel 5 stores.

Risks:

• Net income was impacted by product cost inflation, with an estimated annualized cost inflation rate of about 1% for the third quarter.

More details: Natural Grocers by Vitamin Cottage IR

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