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Dec 31, 2022
Natural Grocers Q1 2023 Earnings Report
Net sales increased slightly, driven by new stores and comparable store sales. Profitability declined due to higher store and administrative expenses.
Key Takeaways
Natural Grocers reported a slight increase in net sales for the first quarter of fiscal 2023, driven by new store sales and comparable store sales growth. However, net income and earnings per share decreased compared to the prior year due to increased store and administrative expenses.
Net sales increased by 1.1% to $280.5 million.
Daily average comparable store sales increased by 0.5%.
Net income was $4.4 million, with diluted earnings per share of $0.19.
The Company opened one new store.
Forward Guidance
The Company is reaffirming its fiscal 2023 outlook, reflecting recent results, current operating trends, consumer trends, and the uncertainty of the economic environment, including inflationary factors.
Positive Outlook
- Number of new stores: 4-6
- Number of relocations/remodels: 1-2
Challenges Ahead
- Daily average comparable store sales growth: -2.0% to 1.0%
- Diluted earnings per share: $0.70 to $0.90
- Capital expenditures (in millions): $28 to $35
Historical Earnings Impact
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Avg. Return Before/After Earnings
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