---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-012565"
form_type: "8-K"
ticker: "NGVC"
cik: "0001547459"
company_name: "Natural Grocers by Vitamin Cottage, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:49:54.079348+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Natural Grocers Q2 net sales up 4.2% to $283.2M; raises comparable store sales guidance

## Summary
- Net sales $283.2M (+4.2% YoY); daily avg comparable store sales +2.7% (7.0% on two-year basis).
- Net income $5.9M, diluted EPS $0.26 vs $0.28 YoY; includes $0.03 impairment charge from store closure.
- Adjusted EBITDA $16.8M; opened one new store, 3.1% new store growth rate.
- Management raised comparable store sales guidance for fiscal 2023, citing increased customer traffic.
- Company decided to close two underperforming stores as part of productivity improvement efforts.

## SEC filing metadata
- accession: 0001437749-23-012565
- form_type: 8-K
- ticker: NGVC
- cik: 0001547459
- company_name: Natural Grocers by Vitamin Cottage, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1547459/000143774923012565/0001437749-23-012565-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1547459/000143774923012565/ngvc20230502_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-012565
- JSON: https://secwatch.observer/filing/0001437749-23-012565.json
- Plain text: https://secwatch.observer/filing/0001437749-23-012565.txt

## Key facts
- Earnings Releases
  Natural Grocers by Vitamin Cottage, Inc. reported second quarter of fiscal 2023 ended March 31, 2023 results: revenue $283.2 million, net income $5.9 million, EPS $0.26. Guidance raised.
  - Period: second quarter of fiscal 2023 ended March 31, 2023
  - Revenue: $283.2 million
  - Net income: $5.9 million
  - EPS: $0.26
  - Guidance: raised
  - Result: reported results
  source text: for its second quarter of fiscal 2023 ended March 31, 2023. Highlights for Second Quarter Fiscal 2023 Compared to Second Quarter Fiscal 2022 ● Net sales increased 4.2% to $283.2 million; ● Daily average comparable store sales increased 2.7%, and increased 7.0% on a two-year basis; ● Net income was $5.9 million, with diluted earnings per share of $0.26, including
  evidence_url: https://www.sec.gov/Archives/edgar/data/1547459/000143774923012565/0001437749-23-012565-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.