Natural Grocers (NYSE:NGVC) by Vitamin Cottage, Inc. (NYSE:NGVC) announced the retirement of its Chief Financial Officer, Todd Dissinger, as of December 31, 2024. Following Dissinger's departure, Richard Hallé took over the role effective January 1, 2025. The transition was part of a planned succession, as indicated in a filing with the Securities and Exchange Commission. The change comes as the company maintains strong financial health, with InvestingPro data showing a robust revenue of $1.24 billion in the last twelve months and an impressive gross profit margin of 33.5%.
Dissinger's retirement concludes his tenure with the Lakewood, Colorado-based health food retailer, which operates under the retail-grocery stores industry classification. The company, incorporated in Delaware, has its fiscal year ending on September 30. According to InvestingPro analysis, Natural Grocers has demonstrated exceptional performance with a 164% price return over the past year and maintains a healthy Piotroski score of 7, indicating strong operational efficiency.
Natural Grocers, known for its commitment to providing organic and natural products, has not disclosed further details regarding Dissinger's decision to retire or any farewell arrangements. The company's business address remains at 12612 W. Alameda Parkway, Lakewood, CO, 80228, and the business phone number is listed as 303-986-4600.
The filing, dated January 7, 2025, fulfills the company's obligation to report such executive changes to the SEC under the Securities Exchange Act of 1934. Zephyr Isely, Co-President of Natural Grocers, signed the report on behalf of the company.
The company's stock, with a par value of $0.001 per share, is publicly traded on the New York Stock Exchange under the ticker symbol NGVC. Currently trading at $39.55, the stock appears overvalued according to InvestingPro's Fair Value analysis. This executive change comes as the company continues to navigate the competitive grocery industry landscape, focusing on health-conscious consumers and organic products, while maintaining steady revenue growth of 8.9% over the last twelve months.
In other recent news, Natural Grocers has announced robust financial results for Q4 and the full Fiscal Year 2024, demonstrating continued growth in net sales and earnings per share. The health-focused grocery chain reported a 9.3% increase in net sales for Q4, reaching $322.7 million, and an 8.9% full-year revenue increase to $1.24 billion. Additionally, the company's diluted earnings per share rose significantly from $1.02 to $1.47.
In these recent developments, Natural Grocers also marked its 21st consecutive year of positive comparable store sales growth and announced a 20% increase in its quarterly cash dividend to $0.12 per share. The company's strategic initiatives include expanding its Npower rewards program and increasing the presence of Natural Grocers branded products.
Moreover, the company plans to open 4-6 new stores and relocate or remodel 2-4 stores in Fiscal Year 2025. The projected diluted earnings per share for Fiscal Year 2025 is between $1.52-$1.60. Lastly, CFO Todd Dissinger is set to retire at the end of the year, with Richard Helet taking over the role on January 1st.
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