Natural Grocers by Vitamin Cottage, Inc. filings document the public-company record for a Delaware specialty retailer of natural and organic groceries, dietary supplements and body care products. Recent Form 8-K reports furnish operating results, investor presentations, dividend declarations and other material events tied to the company's retail-store economics.
Proxy and annual meeting filings cover board elections, auditor ratification, executive compensation, equity-award practices and shareholder voting results. The filing record also includes compensatory-arrangement disclosures and references to MD&A and risk-factor sections in the company's periodic reports, linking governance, financial condition and operating risks to its natural and organic retail business.
Natural Grocers by Vitamin Cottage reported modestly higher results for its second quarter of fiscal 2026 ended March 31. Net sales rose 0.5% to $337.4 million, driven by higher comparable and new store sales, while daily average comparable store sales increased 0.5% as larger basket sizes offset fewer transactions.
Gross margin improved to 30.4% and store expenses fell as a percentage of sales, supporting a 3.1% increase in operating income to $18.1 million. Net income grew to $13.4 million, or $0.58 diluted EPS, compared to $13.1 million, or $0.56, a year earlier. Adjusted EBITDA increased to $27.4 million.
For the first six months, net sales rose 1.0% to $673.0 million and net income reached $24.8 million, or $1.07 diluted EPS. The company ended the quarter with $20.7 million in cash and no borrowings on its $70 million revolver. It declared a quarterly dividend of $0.15 per share and now expects fiscal 2026 diluted EPS of $2.07 to $2.15, daily average comparable store sales growth of 1.5% to 2.5%, and capital expenditures of $45 million to $50 million.
Natural Grocers by Vitamin Cottage reported modestly higher results for its second quarter of fiscal 2026 ended March 31. Net sales rose 0.5% to $337.4 million, driven by higher comparable and new store sales, while daily average comparable store sales increased 0.5% as larger basket sizes offset fewer transactions.
Gross margin improved to 30.4% and store expenses fell as a percentage of sales, supporting a 3.1% increase in operating income to $18.1 million. Net income grew to $13.4 million, or $0.58 diluted EPS, compared to $13.1 million, or $0.56, a year earlier. Adjusted EBITDA increased to $27.4 million.
For the first six months, net sales rose 1.0% to $673.0 million and net income reached $24.8 million, or $1.07 diluted EPS. The company ended the quarter with $20.7 million in cash and no borrowings on its $70 million revolver. It declared a quarterly dividend of $0.15 per share and now expects fiscal 2026 diluted EPS of $2.07 to $2.15, daily average comparable store sales growth of 1.5% to 2.5%, and capital expenditures of $45 million to $50 million.
Natural Grocers by Vitamin Cottage reported modestly higher results for its second quarter of fiscal 2026 ended March 31. Net sales rose 0.5% to $337.4 million, driven by higher comparable and new store sales, while daily average comparable store sales increased 0.5% as larger basket sizes offset fewer transactions.
Gross margin improved to 30.4% and store expenses fell as a percentage of sales, supporting a 3.1% increase in operating income to $18.1 million. Net income grew to $13.4 million, or $0.58 diluted EPS, compared to $13.1 million, or $0.56, a year earlier. Adjusted EBITDA increased to $27.4 million.
For the first six months, net sales rose 1.0% to $673.0 million and net income reached $24.8 million, or $1.07 diluted EPS. The company ended the quarter with $20.7 million in cash and no borrowings on its $70 million revolver. It declared a quarterly dividend of $0.15 per share and now expects fiscal 2026 diluted EPS of $2.07 to $2.15, daily average comparable store sales growth of 1.5% to 2.5%, and capital expenditures of $45 million to $50 million.
Natural Grocers by Vitamin Cottage, Inc. delivered modest growth for the quarter ended March 31, 2026. Net sales were $337.4 million, up 0.5% from a year earlier, as daily average comparable store sales grew 0.5% on a 1.6% larger average ticket, partly offset by a 1.1% decline in transaction count.
Gross profit rose to $102.4 million and gross margin edged up to 30.4% from 30.3%, helped by lower occupancy costs as a percentage of sales. Store expenses decreased 1.6% to $71.6 million, while administrative expenses increased 10.0% to $12.1 million, mainly from higher technology spending.
Operating income was $18.1 million and net income reached $13.4 million, or $0.58 diluted EPS, compared with $13.1 million and $0.56 a year ago. For the first six months, net sales were $673.0 million and net income was $24.8 million, or $1.07 diluted EPS, with EBITDA and Adjusted EBITDA both improving.
The company generated $43.8 million of operating cash flow in the first half, spent $30.3 million on capital investments, and ended the period with $20.7 million in cash and no borrowings on its $70.0 million credit facility. It assumed $1.5 million of Co‑PACE Financing tied to a future corporate headquarters, maintained 169 stores, continued a $0.15 per‑share quarterly dividend, and extended its share repurchase program.
Natural Grocers by Vitamin Cottage, Inc. delivered modest growth for the quarter ended March 31, 2026. Net sales were $337.4 million, up 0.5% from a year earlier, as daily average comparable store sales grew 0.5% on a 1.6% larger average ticket, partly offset by a 1.1% decline in transaction count.
Gross profit rose to $102.4 million and gross margin edged up to 30.4% from 30.3%, helped by lower occupancy costs as a percentage of sales. Store expenses decreased 1.6% to $71.6 million, while administrative expenses increased 10.0% to $12.1 million, mainly from higher technology spending.
Operating income was $18.1 million and net income reached $13.4 million, or $0.58 diluted EPS, compared with $13.1 million and $0.56 a year ago. For the first six months, net sales were $673.0 million and net income was $24.8 million, or $1.07 diluted EPS, with EBITDA and Adjusted EBITDA both improving.
The company generated $43.8 million of operating cash flow in the first half, spent $30.3 million on capital investments, and ended the period with $20.7 million in cash and no borrowings on its $70.0 million credit facility. It assumed $1.5 million of Co‑PACE Financing tied to a future corporate headquarters, maintained 169 stores, continued a $0.15 per‑share quarterly dividend, and extended its share repurchase program.
Natural Grocers by Vitamin Cottage, Inc. delivered modest growth for the quarter ended March 31, 2026. Net sales were $337.4 million, up 0.5% from a year earlier, as daily average comparable store sales grew 0.5% on a 1.6% larger average ticket, partly offset by a 1.1% decline in transaction count.
Gross profit rose to $102.4 million and gross margin edged up to 30.4% from 30.3%, helped by lower occupancy costs as a percentage of sales. Store expenses decreased 1.6% to $71.6 million, while administrative expenses increased 10.0% to $12.1 million, mainly from higher technology spending.
Operating income was $18.1 million and net income reached $13.4 million, or $0.58 diluted EPS, compared with $13.1 million and $0.56 a year ago. For the first six months, net sales were $673.0 million and net income was $24.8 million, or $1.07 diluted EPS, with EBITDA and Adjusted EBITDA both improving.
The company generated $43.8 million of operating cash flow in the first half, spent $30.3 million on capital investments, and ended the period with $20.7 million in cash and no borrowings on its $70.0 million credit facility. It assumed $1.5 million of Co‑PACE Financing tied to a future corporate headquarters, maintained 169 stores, continued a $0.15 per‑share quarterly dividend, and extended its share repurchase program.
Natural Grocers by Vitamin Cottage, Inc. reported the results of its 2026 annual stockholder meeting, held virtually on March 4, 2026. A total of 21,267,524 common shares, or 92.33% of those entitled to vote, were represented in person or by proxy, indicating strong participation.
Stockholders elected three directors to the board. Zephyr Isely received 16,026,727 votes for and 3,521,239 withheld, David Rooney received 16,760,662 for and 2,787,304 withheld, and Sandra Buffa received 17,466,551 for and 2,081,415 withheld. Each director election included 1,719,558 broker non-votes.
Stockholders also approved the appointment of KPMG as the Company’s independent registered public accounting firm, with 21,071,794 votes for, 131,811 against, and 63,919 abstaining. The filing was signed on behalf of the Company by Co‑President Kemper Isely.
Natural Grocers by Vitamin Cottage, Inc. director David C. Rooney reported equity compensation activity involving restricted stock units tied to NGVC common stock. On March 4, 2026, he was granted 2,253 restricted stock units, each representing a contingent right to receive one share of NGVC common stock, for service on the company’s board of directors. These units are scheduled to vest on March 4, 2027, subject to continued service, and will be settled in NGVC common shares.
On March 5, 2026, 1,532 restricted stock units vested and were settled into 1,532 shares of NGVC common stock at a price of $0.00 per share, reflecting an exercise or conversion of a derivative security rather than an open-market purchase. Following these transactions, Rooney directly held 3,785 restricted stock units before the vesting conversion and 2,253 restricted stock units afterward, and his direct ownership of NGVC common stock increased to 20,364 shares.
Natural Grocers by Vitamin Cottage, Inc. director Edward Cerkovnik reported equity compensation activity involving restricted stock units (RSUs) and common shares.
On March 4, 2026, he received a grant of 2,253 RSUs for service on the board. These RSUs will vest on March 4, 2027, subject to continued service, and will be settled in shares of NGVC common stock.
On March 5, 2026, 1,532 RSUs vested and were converted into 1,532 shares of common stock at no exercise price, reflecting a derivative exercise/conversion rather than an open‑market purchase. Following these transactions, he directly holds 61,748 common shares and 2,253 RSUs.
Buffa Sandra reported acquisition or exercise transactions in this Form 4 filing.
Natural Grocers by Vitamin Cottage director Sandra Buffa reported equity-based awards and conversions rather than open‑market trades. On March 5, 2026, 1,532 restricted stock units vested and were settled in an equal number of common shares, leaving her with 13,551 common shares held directly.
Following that vesting, 2,253 restricted stock units remained outstanding. On March 4, 2026, she also received a new grant of restricted stock units for service on the board of directors; 3,785 units were outstanding after this grant. These new units will vest on March 4, 2027, subject to continued service and will be settled in common stock.
Natural Grocers by Vitamin Cottage, Inc. filed a current report to note that it has released financial results for the three months ended December 31, 2025. The company issued a press release on February 5, 2026, which is furnished as Exhibit 99.1 to this report.
The report clarifies that the press release and related information are furnished, not filed, under securities laws and are not automatically incorporated into other Securities Act or Exchange Act filings unless specifically referenced.
Natural Grocers by Vitamin Cottage, Inc. filed a current report to note that it has released financial results for the three months ended December 31, 2025. The company issued a press release on February 5, 2026, which is furnished as Exhibit 99.1 to this report.
The report clarifies that the press release and related information are furnished, not filed, under securities laws and are not automatically incorporated into other Securities Act or Exchange Act filings unless specifically referenced.
Natural Grocers by Vitamin Cottage, Inc. filed a current report to note that it has released financial results for the three months ended December 31, 2025. The company issued a press release on February 5, 2026, which is furnished as Exhibit 99.1 to this report.
The report clarifies that the press release and related information are furnished, not filed, under securities laws and are not automatically incorporated into other Securities Act or Exchange Act filings unless specifically referenced.
Natural Grocers by Vitamin Cottage, Inc. reported modest growth for the quarter ended December 31, 2025. Net sales were $335.6 million, up 1.6% year over year, driven by a 1.7% increase in daily average comparable store sales, with both transaction counts and ticket size improving.
Gross profit held essentially flat at $98.9 million, while gross margin slipped to 29.5% from 29.9% due to lower product margin and higher inventory shrink. Tighter cost control helped operating income rise 9.7% to $14.6 million, and net income increased to $11.3 million, or $0.49 per diluted share, from $9.9 million, or $0.43 per diluted share.
Cash flow from operations strengthened significantly to $21.1 million, and cash and cash equivalents reached $23.2 million with no borrowings outstanding on the $70.0 million revolving credit facility. The company operated 168 stores at quarter end, paid a $0.15 per share dividend, and the board approved another $0.15 dividend payable in March 2026.
Natural Grocers by Vitamin Cottage, Inc. reported modest growth for the quarter ended December 31, 2025. Net sales were $335.6 million, up 1.6% year over year, driven by a 1.7% increase in daily average comparable store sales, with both transaction counts and ticket size improving.
Gross profit held essentially flat at $98.9 million, while gross margin slipped to 29.5% from 29.9% due to lower product margin and higher inventory shrink. Tighter cost control helped operating income rise 9.7% to $14.6 million, and net income increased to $11.3 million, or $0.49 per diluted share, from $9.9 million, or $0.43 per diluted share.
Cash flow from operations strengthened significantly to $21.1 million, and cash and cash equivalents reached $23.2 million with no borrowings outstanding on the $70.0 million revolving credit facility. The company operated 168 stores at quarter end, paid a $0.15 per share dividend, and the board approved another $0.15 dividend payable in March 2026.
Natural Grocers by Vitamin Cottage, Inc. reported modest growth for the quarter ended December 31, 2025. Net sales were $335.6 million, up 1.6% year over year, driven by a 1.7% increase in daily average comparable store sales, with both transaction counts and ticket size improving.
Gross profit held essentially flat at $98.9 million, while gross margin slipped to 29.5% from 29.9% due to lower product margin and higher inventory shrink. Tighter cost control helped operating income rise 9.7% to $14.6 million, and net income increased to $11.3 million, or $0.49 per diluted share, from $9.9 million, or $0.43 per diluted share.
Cash flow from operations strengthened significantly to $21.1 million, and cash and cash equivalents reached $23.2 million with no borrowings outstanding on the $70.0 million revolving credit facility. The company operated 168 stores at quarter end, paid a $0.15 per share dividend, and the board approved another $0.15 dividend payable in March 2026.
Natural Grocers by Vitamin Cottage, Inc. is asking stockholders to vote on two main items at its March 4, 2026 virtual annual meeting. Stockholders will elect three Class II directors—Sandra Buffa, Zephyr Isely and David Rooney—for three-year terms ending at the 2029 annual meeting, and vote on ratifying KPMG LLP as independent registered public accounting firm for the fiscal year ending September 30, 2026.
The company has a seven‑member classified board and qualifies as a NYSE “controlled company” because the Isely family and related entities beneficially own about 57.9% of the common stock as of January 13, 2026. Independent directors Sandra Buffa, Edward Cerkovnik and David Rooney serve on the audit committee, which oversaw audit fees to KPMG of $974,000 for fiscal 2024 and $993,432 for fiscal 2025.
Executive pay is primarily salary and discretionary cash bonuses, with limited equity awards. In fiscal 2025, each Co‑President earned salary of $619,800 (Kemper) and $588,000 (Zephyr), while Executive Vice Presidents Heather and Elizabeth Isely each received $540,000 in salary and $365,000 in discretionary bonus. New CFO Richard Hallé received $559,746 in salary, $567,500 in cash bonuses and equity awards valued at $5,673,050, including 200,000 restricted stock units scheduled to vest in 2029 or upon certain change‑in‑control events.
Natural Grocers by Vitamin Cottage, Inc. is asking stockholders to vote on two main items at its March 4, 2026 virtual annual meeting. Stockholders will elect three Class II directors—Sandra Buffa, Zephyr Isely and David Rooney—for three-year terms ending at the 2029 annual meeting, and vote on ratifying KPMG LLP as independent registered public accounting firm for the fiscal year ending September 30, 2026.
The company has a seven‑member classified board and qualifies as a NYSE “controlled company” because the Isely family and related entities beneficially own about 57.9% of the common stock as of January 13, 2026. Independent directors Sandra Buffa, Edward Cerkovnik and David Rooney serve on the audit committee, which oversaw audit fees to KPMG of $974,000 for fiscal 2024 and $993,432 for fiscal 2025.
Executive pay is primarily salary and discretionary cash bonuses, with limited equity awards. In fiscal 2025, each Co‑President earned salary of $619,800 (Kemper) and $588,000 (Zephyr), while Executive Vice Presidents Heather and Elizabeth Isely each received $540,000 in salary and $365,000 in discretionary bonus. New CFO Richard Hallé received $559,746 in salary, $567,500 in cash bonuses and equity awards valued at $5,673,050, including 200,000 restricted stock units scheduled to vest in 2029 or upon certain change‑in‑control events.