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Natural Grocers by Vitamin Cottage (NGVC), the Lakewood, Colo.-based retailer that operates small-format stores specializing in organic and natural foods, has reported a 28.1 percent spike in its fourth quarter sales, as well as solid results for the fiscal year that ended Sept. 30.
Fourth-quarter sales reached $115.2 million, with the help of new stores and a 10.7 percent increase in daily average comparable store sales. The retailer reported a 5.5 percent increase in daily average transaction count and a 4.9 percent jump in average transaction size. Net income for the quarter, meanwhile, increased 129 percent to $2.2 million.
For the fiscal year, sales increased 28 percent to $430.7 million, while net income rose 58.7 percent to $10.6 million. Sales were helped by positive comparable store sales and new store growth.
"We are very pleased with our performance this fiscal year," said Kemper Isely, NGVC co-president. "Our five founding principles continue to drive our robust sales, and we remain focused on our disciplined approach to cost controls. We delivered strong financial results this year and fully anticipate that we will carry this positive momentum into fiscal 2014."
During the fourth quarter of fiscal year 2013, the company opened four new stores, bringing the total store count to 72 stores located in 13 states at the end of fiscal year 2013.
NGVC expects to open 15 stores in fiscal year 2014.