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Mar 31, 2023
Natural Grocers Q2 2023 Earnings Report
Net sales increased due to comparable store sales and new store sales, while earnings per share included an impairment charge.
Key Takeaways
Natural Grocers announced its Q2 fiscal year 2023 results, with net sales increasing by 4.2% to $283.2 million. Daily average comparable store sales increased by 2.7%. Net income was $5.9 million, with diluted earnings per share of $0.26, including a $0.03 per share impairment charge.
Net sales increased 4.2% to $283.2 million.
Daily average comparable store sales increased 2.7%.
Net income was $5.9 million, with diluted earnings per share of $0.26, including a $0.03 per share impairment charge related to a store closure.
Opened one new store, resulting in a 3.1% new store growth rate for the twelve-month period.
Natural Grocers
Natural Grocers
Forward Guidance
The Company is raising its fiscal 2023 outlook for comparable store sales based upon year-to-date performance and current trends. The Company is also increasing its outlook for the number of relocations/remodels.
Positive Outlook
- Number of new stores: 4-6
- Number of relocations/remodels: 2-3
- Daily average comparable store sales growth: 1.0% to 2.0%
- Diluted earnings per share: $0.70 to $0.90
- Capital expenditures: $28 to $35 million