Natural Grocers by Vitamin Cottage, Inc. has recently released its latest 10-Q report. The company operates natural and organic grocery and dietary supplement stores in the United States, along with a bulk food repackaging facility and distribution center in Golden, Colorado. Its stores sell natural and organic groceries, supplements, body care items, and related household products, and the company also provides nutrition education programs.
In Item 2, Management’s Discussion and Analysis, the company said it operated 169 stores in 21 states as of March 31, 2026, with store sizes ranging from about 7,000 to 17,000 selling square feet. During the six months ended March 31, 2026, it opened one store, relocated one, and closed one; since April 1, 2026, it has opened one more store and relocated another. For fiscal 2026, it plans to open six to eight new stores and relocate or remodel two to three existing stores, while targeting annual unit growth of 4% to 5% over the foreseeable future.
Net sales rose to $337.4 million in the quarter ended March 31, 2026, from $335.8 million a year earlier, an increase of $1.6 million, or 0.5%. For the six-month period, net sales increased to $673.0 million from $666.0 million, up $7.0 million, or 1.0%. Daily average comparable store sales increased 0.5% for the quarter and 1.1% for the six months.
Net income increased to $13.4 million in the quarter from $13.1 million a year earlier, and to $24.8 million for the six-month period from $23.0 million. EBITDA rose to $26.3 million from $25.4 million in the quarter and to $48.9 million from $46.7 million for the six months. Adjusted EBITDA increased to $27.4 million from $26.3 million in the quarter and to $50.9 million from $49.1 million for the six months.
As of March 31, 2026, the company reported $20.7 million in cash and cash equivalents. It also said it had $67.6 million available for borrowing under its credit facility, net of $2.4 million in undrawn, issued and outstanding letters of credit.
The company said its results continue to be affected by inflation, supply chain disruptions, labor costs, tariffs, consumer spending patterns, and competition in the grocery and dietary supplement markets. It also said recent conflicts in the Middle East have disrupted commodity markets and contributed to supply chain disruption and inflation, while new tariffs and trade restrictions could affect demand and operating results. As a result of these announcements, the company's shares have moved 2.77% on the market, and are now trading at a price of $27.86. Check out the company's full 10-Q submission here.
