LAKEWOOD, Colo. — Natural Grocers by Vitamin Cottage here on Wednesday said comparable-store sales were up 10.4% in the third quarter, and total sales grew 30.5% for the period.
“Our solid financial results this quarter reflect the continued strength of our business model, bolstered by our commitment to our five founding principles,” said Kemper Isely, NGVC co-president, in a statement. “With our strong comparable sales growth and a disciplined approach to managing expenses, we remain confident in our strategy and our ability to grow our store base while expanding both the top and bottom line.”
Net income for the three-month period, which ended June 30, increased 31.1%, to $2.9 million. Sales for the quarter totaled $113.2 million. EBITDA for the quarter rose 33%, to $8.7 million.
Through three quarters net income was up 46.7%, to $8.3 million, on a 28% gain in sales, to $315.5 million, compared with year-ago results. EBITDA rose 37.1% year-to-date, to $24.2 million.
During the third quarter of fiscal 2013, the company opened three new stores, bringing the total store count to 68 stores located in 13 states. Since the end of the third fiscal quarter the company has opened two stores in Omaha, Neb., and Beaverton, Ore. NGVC has signed leases to open two additional stores in the remainder of fiscal 2013.
In addition, it has signed leases for 11 stores planned to open in fiscal 2014. Leases have been signed for locations in Colorado, Idaho, Kansas, Oklahoma, Oregon, Texas, Utah and Washington.
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