Lakewood, Colo. – Net income climbed 24.3% at Natural Grocers by Vitamin Cottage Inc. in the second quarter of fiscal 2014, rising to $4 million from $3.21 million in the same quarter the prior fiscal year. For the remainder of the current fiscal year, Natural Grocers plans to open six new stores and remodel one.
Natural Grocers attributed net income growth to lower store salary and television advertising expenses. Net sales increased 22.4% from the same period in fiscal year 2013 to $130.3 million from $106.5 million due to a $16.6 million increase in sales from new stores and a 6.9%, increase in same-store sales.
Looking ahead, Vitamin Grocers plans to sell only pasture-raised, non-confinement dairy products by April 2015.
"Our sales increases and disciplined approach toward operating expenses have resulted in strong financial results this quarter which allowed us to continue our investments into growth," said Kemper Isely, co-president.