NGVC - Natural Grocers by Vitamin Cottage -19% after earnings results

Natural Grocers by Vitamin Cottage (NGVC) is down 19% after reporting its second-quarter earnings results. Key highlights include:Revenue of $259.2M (-6.6% Y/Y).The company notes that the decline in revenue was primarily due to unprecedented net sales a year ago as customers pantry loaded at the onset of the COVID-19 pandemic, which contributed to a daily average comparable store sales increase in March 2020 of ~40%.Daily average comparable store sales decreased 7%, reflecting an impact of disrupted operations in South Central and Pacific Northwest markets due to cold and ice storms. On on two-year stacked basis comps up 10%.Operating income of $6.7M compared to $13.3M a year ago.Adjusted EBITDA of $14.1M compared to $21.1M a year ago.The company has opened one new store and remodeled one store, resulting in a 2.5% new store growth rate for the year ended Mar. 31, 2021.GAAP EPS of $0.21.Reaffirms 2021 Outlook: Number of new stores 3-4, daily average comparable store sales growth of -2.0%

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Natural Grocers by Vitamin Cottage -19% after earnings results