US retailer Natural Grocers by Vitamin Cottage said it was “pleased” with its first-half results that showed “continued strength” in both sales and earnings growth.
Earnings in the six months to the end of March amounted to US$5.4m, a 56.5% increase on last year. Net income compared to pro forma earnings last year were up 42.1%.
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Pro forma net income reflects earnings as if the firm had owned 100% of five Boulder stores for the first half of fiscal 2012, the company said.
EBITDA increased 39.6% in the period to $15.5m, while net sales were up 26.6% to $202.3m. Revenues increased on $26m of new store sales and on a 10.4% increase in comparable store sales.
The company said it plans to open 13 stores in fiscal 2013. It currently operates 65 stores across 13 states.
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