Loading...
•
Jun 30, 2020
Natural Grocers Q3 2020 Earnings Report
Reported strong results driven by increased net sales and comparable store sales, reflecting the impact of the COVID-19 pandemic and government mandates.
Key Takeaways
Natural Grocers announced strong Q3 2020 results, with net sales increasing by 18.1% to $265.1 million and a comparable store sales increase of 15.5%. Net income rose by 134.8% to $4.7 million, with diluted earnings per share reaching $0.21. The company opened two new stores and declared a quarterly dividend of $0.07 per common share.
Net sales increased 18.1% to $265.1 million.
Daily average comparable store sales increased 15.5%.
Net income increased 134.8% to $4.7 million, with diluted earnings per share of $0.21.
Opened two new stores, resulting in a 4.6% new store growth rate.
Natural Grocers
Natural Grocers
Forward Guidance
The Company has updated its fiscal 2020 outlook, reflecting year to date results and current trends in light of the rapidly evolving COVID-19 environment and government mandates.
Positive Outlook
- Number of new stores
- Number of relocations
- Daily average comparable store sales growth
- Net income as a percentage of sales
- Diluted earnings per share $0.79 to $0.83
Challenges Ahead
- The Company cannot predict the duration or severity of the current environment, and how that could impact financial results.
- The fiscal 2020 outlook does not contemplate significant additional changes to the current operating environment as a result of further COVID-19 developments and government mandates.
- incremental occupancy expense
- which is expected to negatively impact diluted earnings per share by $0.01 to $0.02 for fiscal 2020.
- Capital expenditures (in millions) $28 to $31