US natural and organic retailer Natural Grocers by Vitamin Cottage has booked higher annual sales and profits.
The company, which listed last July, posted net income of US$10.6m for the year to the end of September, compared to $6.7m a year ago. Operating income stood at $19.1m, versus $12m a year earlier.
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Net sales were up 28% at $430.7m, with daily average comparable-store sales increasing 11.1%.
Daily average comparable store sales removes the effect of changes in the number of selling days during each period in the comparison.
“We are very pleased with our performance this fiscal year,” co-president Kemper Isely. “We delivered strong financial results this year and fully anticipate that we will carry this positive momentum into fiscal 2014.”
During the year, Natural Grocers opened 13 stores to take its network to 74 in 13 states.
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By GlobalDataIn the new financial year, Natural Grocers expects to open 15 more. It forecast an an 8.5% to 9.5% increase in daily comp-store sales.
