Natural Grocers by Vitamin Cottage Inc: Down on lower profit, soybean recall

Natural Grocers by Vitamin Cottage

15/11/2019 15:42

** Organic grocery chain's  NGVC.N  shares fall as much as
8% to a two-week low of $8.50 on lower Q4 profit
    ** NGVC reported a profit of 6 cents per share on Thursday
after market, compared with 9 cents a year earlier  urn:newsml:reuters.com:*:nPnb0gyY3a
    ** "We continue to focus primary promotional offers on
grocery items, which generally carry lower gross margins than
supplements and body care" - CFO Todd Dissinger on conference
call
    ** "Moderate pressure" on gross margin in FY 2019 to remain
due to the continued impact of an unfavorable shift in product
mix - NGVC
    ** Company to recall some of the Natural Grocers-labeled
soybean packages from its stores due to the presence of mold
 urn:newsml:reuters.com:*:nPn334JTVa
    ** FDA and the company continue investigation into the
source of the problem
    ** Net and comparable sales rose in Q4
    ** NGVC initiates first quarterly cash dividend of 7 cents
per common share
    ** Stock was down ~40% this year as of Thursday

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))