Private label expansion played a key role in Natural Grocers’ strong first-quarter earnings for 2025, fueled in part by the launch of 23 new store-brand items.
Key Takeaways:
Consistent Growth and Consumer Engagement
Natural Grocers continues its upward trajectory, marking Eight consecutive quarters of positive customer traffic gains, and Four consecutive quarters of growth in items per basket alongside modest inflation.
Co-president Kemper Isely attributed this success to sustained positive trends in product category and regional growth.
“Comparable store sales growth remains balanced across transaction counts, transaction size, and items per basket,” Isely said. “We believe our performance metrics rank among the best in grocery retail.”
In Q1, the daily average comparable transaction count increased by 5.3%, while items per basket rose by approximately 2 percentage points, according to Halle.
{N}power Rewards Program and Future Expansion
Alongside private label success, the grocer’s {N}power rewards program significantly contributed to Q1 results, reaching 81% net sales penetration, up from 78% last year.
Looking ahead, Natural Grocers is increasing its fiscal 2025 outlook, projecting:
“Our fiscal 2025 and future growth will be driven by strong consumer alignment, our {N}power rewards program, expanded private label offerings, and continued store development,” Isely said.