Third-quarter profits have increased at US speciality retailer Natural Grocers by Vitamin Cottage.
Net income was up 13.6% at US$2.9m for the three months to the end of June. Operating income came in at $5.2m, up from $4m a year earlier.
The retailer saw net sales jump 30.5% to $113.2m. It opened three stores during the quarter but said daily average comparable-store sales were also up 10.4%. That metric excludes the one extra selling day in this year’s third quarter compared to last.
Gross profit was up but gross margin dipped due to a change in NGVC’s product mix towards lower-margin lines.
Third-quarter results contributed to higher nine-month sales and profits, NGVC said.
Click here for the full statement from NGVC.