In the third quarter of 2022, net sales increased $7.7 million, or 3.0%, to $266.3 million, compared to the third quarter of fiscal 2021, due to a $6.4 million increase in comparable store sales and a $2.1 million increase in new store sales. This was partially offset by a $0.8 million decrease in sales from one store that closed at the beginning of the quarter.
Daily average comparable store sales increased 2.5% in the third quarter of fiscal 2022, and consisted of a 2.7% increase in daily average transaction size, partially offset by a 0.2% decrease in daily average transaction count.
Gross profit during the quarter increased 2.8% to $73.6 million, driven by increased sales volume. Net income for the third quarter of fiscal 2022 was $3.9 million.
"We are pleased with our results in the third quarter, which were in-line with our expectations," said Kemper Isely, Co-President of the chain. "Consumers continue to be drawn to the quality and value of our offering, along with our convenient shopping experience, making us a leading destination for natural and organic products in our markets. Since the third quarter of fiscal 2019 our daily average comparable store sales have increased 14.1% and diluted earnings per share have grown 88.9%, underscoring the strength of our differentiated model as well as our emphasis on operational excellence.”
Founded in 1955, Natural Grocers currently operates 163 stores in 21 states.