NEW YORK - Natural Grocers (NYSE:NGVC) by Vitamin Cottage, Inc. (NYSE: NGVC) reported better-than-expected fourth quarter results on Thursday, but its stock fell 3.3% following the announcement.
The organic and natural foods retailer posted earnings per share of $0.39, surpassing analyst estimates of $0.28. Revenue for the quarter came in at $322.7 million, also beating the consensus forecast of $315.13 million.
Net sales increased 9.3% year-over-year to $322.7 million, driven by a 7.1% rise in daily average comparable store sales. The company attributed the growth to higher transaction counts, increased items per transaction, and new store openings.
"Our outstanding fourth quarter and fiscal year results underscore our customers' appreciation for our commitment to the exceptional quality, value and convenience provided by our innovative business model," said Co-President Kemper (NYSE:KMPR) Isely.
For fiscal 2024, Natural Grocers reported net income of $33.9 million, or $1.47 per diluted share, up 46% from $23.2 million, or $1.02 per share, in the prior year.
Looking ahead, the company expects fiscal 2025 comparable store sales growth of 4% to 6% and diluted earnings per share between $1.52 and $1.60.
Natural Grocers also announced a 20% increase in its quarterly dividend to $0.12 per share.
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