US retailer Natural Grocers by Vitamin Cottage has said it expects to open 11 stores in the next 12 months.
The Colorado-based firm, which listed in New York in July, had 59 outlets selling natural and organic groceries across 12 states by the end of September, when its financial year ended.
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Last month, the retailer opened a store in Montana. It said on Thursday (15 November) it planned to open 12 outlets in its new financial year and had signed leases for six of them.
In the new financial year, Natural Grocers expects to increase comparable-store sales by between 7.5% and 8.5%. In the 12 months to the end of September, comparable-store sales were up 11.6%. Net sales grew 27.2% to $336.4m.
Net income, meanwhile, was up 89.6% at $6.6m.
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