NGVC - Why Natural Grocers by Vitamin Cottage Stock Popped Today
2024-02-09 19:52:00 ET
Shares of Natural Grocers by Vitamin Cottage (NYSE: NGVC) soared 15.8% today after the organic grocery chain delivered strong quarterly results.
For its fiscal first-quarter 2024 ended Dec. 31, 2023, Natural Grocers' net sales grew 7.6% year over year to $301.8 million, including a 6.2% increase in daily-average comparable-store sales. Net income climbed nearly 80% to $0.34 per share -- trouncing expectations for earnings of $0.19 per share -- helped by a combination of sales growth, pricing initiatives, and effective operating-expense management.
"Our differentiated offering of carefully vetted natural and organic products, and compelling value proposition, continue to resonate with today's health-conscious consumers and distinguish us in the marketplace," stated Natural Grocers Co-President Kemper Isley.
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Why Natural Grocers by Vitamin Cottage Stock Popped Today