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Natural Grocers by Vitamin Cottage, Inc. reports developments tied to its specialty retail model for natural and organic groceries, dietary supplements and body care products. Company news commonly covers quarterly earnings, gross margin and store-cost trends, cash dividends, store openings in new and existing markets, and customer programs such as {N}power® promotions.
Updates also address Natural Grocers' product standards, including USDA certified organic produce, pasture-raised dairy products, free-range eggs, private-label additions under Natural Grocers Brand, and free science-based nutrition education programs. The company was founded in 1955 and operates a smaller-store format for natural and organic retailing.
Natural Grocers has initiated the "Rooted in Community Gratitude Giveaway" to recognize local heroes during 2020. Customers can nominate someone who has inspired them by submitting a short essay. Six themed prize packages featuring Natural Grocers Brand Products will be awarded, including a $5 gift card and a reusable shopping bag. Monthly, 10 winners will be randomly selected from the submissions, promoting community connection and customer engagement. The initiative underscores Natural Grocers' commitment to quality products and support for local farmers.
Natural Grocers by Vitamin Cottage announced the expansion of its free Nutrition Education program to a virtual format, ensuring community health support during the COVID-19 pandemic. Starting October 7, 2020, customers can access weekly classes focused on health, nutrition, and wellness every Wednesday at 6:00 p.m. MDT. The program includes sessions led by guest experts on topics such as food waste reduction, traditional diets, and immune health. Additionally, personalized Nutritional Health Coaching Sessions are now offered virtually, allowing customers to receive tailored health guidance.
Natural Grocers, the largest family-operated natural grocery retailer in the U.S., is expanding its Cottage Wine and Craft Beer shop to Klamath Falls, OR. The new selection features organic and biodynamic wines and local craft beers, adhering to high-quality standards. To celebrate, customers will receive a 25% discount store-wide from October 5 to 11, 2020. This addition aims to provide a one-stop shopping experience for health-conscious consumers, with an emphasis on organic and gluten-free options. The store will stock a variety of local and organic products.
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Natural Grocers is relocating its Rio Rancho store to 921 Pat D'Arco Hwy, NM, on August 27, 2020. The new location is larger and aims to provide an enhanced selection of fresh, organic produce and groceries at affordable prices. The store will celebrate its opening with specials from August 27 to September 30, featuring discounts on organic items. Although the grand reopening event has been postponed due to COVID-19, customers can still expect the same high standards of service and product quality. The new store incorporates energy-saving practices and maintains its commitment to customer health.
Natural Grocers by Vitamin Cottage (NYSE: NGVC) has elected David C. Rooney to its board of directors, filling the vacancy left by Michael T. Campbell's retirement on August 5, 2020. Rooney, a recent audit partner at Deloitte, brings extensive financial and auditing expertise, which the company believes will strengthen board leadership. His term will continue until the 2023 annual meeting of stockholders. This move reflects effective succession planning within the company, aimed at maintaining a robust governance structure.
Natural Grocers by Vitamin Cottage (NYSE: NGVC) has announced a quarterly cash dividend of $0.07 per share, set for payment on September 15, 2020. This dividend will benefit all shareholders on record by August 31, 2020. The company is recognized for its commitment to quality, offering only USDA certified organic produce and pasture-raised products. Operating 159 stores across 20 states, Natural Grocers continues to expand its footprint while providing nutrition education to customers.
Natural Grocers by Vitamin Cottage reported strong Q3 2020 results, with net sales up 18.1% to $265.1 million and net income rising 134.8% to $4.7 million. Daily average comparable store sales rose 15.5%, with a significant increase in transaction size despite a drop in transaction count. Operating income surged 74.3% to $6.7 million, and EBITDA climbed 32.2% to $14.6 million. The company opened two new stores, maintaining growth momentum, and declared a quarterly dividend of $0.07. Fiscal 2020 outlook was updated, anticipating further store openings and ongoing sales growth.
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