The following is a summary of the Natural Grocers by Vitamin Cottage, Inc. (NGVC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Natural Grocers reported record Q2 sales with a daily average comparable store sales increase of 7.5%.

• The gross margin increased to 29.3%, primarily due to store occupancy cost leverage.

• Q2 net sales were $308.1 million, an 8.8% increase from the previous year.

• Diluted earnings per share rose by 34.6% to $0.35, and the company reported a net income of $8 million.

• Adjusted EBITDA for Q2 stood at $19.7 million.

Business Progress:

• One new store was opened during Q2, in line with the company's satisfaction over the performance of the four new stores opened in the last 12 months.

• Strong sales growth is attributed to a differentiated business model, effective customer engagement, and productivity initiatives.

• The {N}power rewards program continues to show success, with net sales penetration increasing from 76% to 78% year-on-year.

• The company's FY 2024 guidance includes plans to open 4-6 new stores and remodel 4-6 existing stores.

More details: Natural Grocers by Vitamin Cottage IR

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