NGVC reports $334.7 million in Q3 net sales but sees net income drop to $11.1 million on higher costs and lower margins.
Natural Grocers by Vitamin Cottage posted a 1.8% increase in third-quarter net sales to $334.7 million, driven by a 1.2% rise in comparable-store sales. However, net income fell to $11.1 million from $11.6 million a year earlier, while adjusted EBITDA declined 7.6% due to lower product margins, higher shrink, and increased freight costs.
The company’s comparable-store sales growth improved from 0.5% in the prior quarter, supported by a 3.1% increase in basket size, though transaction counts dropped 1.8%. Management cited a challenging consumer environment with continued focus on value.
Natural Grocers narrowed its fiscal 2026 guidance, expecting 1.5%–2% comparable-store sales growth and diluted EPS of $2.07–$2.11. Capital expenditure guidance remains at $45 million–$50 million.