Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 03, 2018 | Mar. 31, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Natural Grocers by Vitamin Cottage, Inc. | ||
Entity Central Index Key | 1,547,459 | ||
Trading Symbol | ngvc | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 22,392,310 | ||
Entity Public Float | $ 64,654,678 | ||
Document Type | 10-K | ||
Document Period End Date | Sep. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 9,398 | $ 6,521 |
Accounts receivable, net | 4,738 | 4,860 |
Merchandise inventory | 94,228 | 93,612 |
Prepaid expenses and other current assets | 2,590 | 3,222 |
Total current assets | 110,954 | 108,215 |
Property and equipment, net | 188,768 | 184,417 |
Other assets: | ||
Deposits and other assets | 1,682 | 1,642 |
Goodwill and other intangible assets, net | 5,648 | 5,655 |
Deferred financing costs, net | 31 | 62 |
Total other assets | 7,361 | 7,359 |
Total assets | 307,083 | 299,991 |
Current liabilities: | ||
Accounts payable | 61,104 | 56,849 |
Accrued expenses | 17,851 | 14,164 |
Capital and financing lease obligations, current portion | 736 | 548 |
Total current liabilities | 79,691 | 71,561 |
Long-term liabilities: | ||
Capital and financing lease obligations, net of current portion | 40,406 | 32,880 |
Revolving credit facility | 13,192 | 28,392 |
Deferred income tax liabilities, net | 6,447 | 12,419 |
Deferred compensation | 688 | 1,231 |
Deferred rent | 11,038 | 10,465 |
Leasehold incentives | 8,895 | 9,160 |
Total long-term liabilities | 80,666 | 94,547 |
Total liabilities | 160,357 | 166,108 |
Commitments (Notes 10 and 17) | ||
Stockholders’ equity: | ||
Common stock, $0.001 par value. 50,000,000 shares authorized, 22,510,279 shares issued at 2018 and 2017, and 22,373,382 and 22,448,056 outstanding at 2018 and 2017, respectively | 23 | 23 |
Additional paid-in capital | 56,236 | 55,678 |
Retained earnings | 91,507 | 78,846 |
Common stock in treasury at cost, 136,897 and 62,223 shares at 2018 and 2017, respectively | (1,040) | (664) |
Total stockholders’ equity | 146,726 | 133,883 |
Total liabilities and stockholders’ equity | $ 307,083 | $ 299,991 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2018 | Sep. 30, 2017 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 22,510,279 | 22,510,279 |
Common stock, shares outstanding (in shares) | 22,373,382 | 22,448,056 |
Treasury stock, shares (in shares) | 136,897 | 62,223 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net sales | $ 849,042 | $ 769,030 | $ 705,499 |
Cost of goods sold and occupancy costs | 623,469 | 556,694 | 503,727 |
Gross profit | 225,573 | 212,336 | 201,772 |
Store expenses | 186,741 | 174,350 | 156,158 |
Administrative expenses | 21,506 | 20,089 | 19,242 |
Pre-opening and relocation expenses | 2,273 | 3,799 | 5,993 |
Operating income | 15,053 | 14,098 | 20,379 |
Interest expense, net | (4,560) | (3,793) | (3,044) |
Income before income taxes | 10,493 | 10,305 | 17,335 |
Benefit from (provision for) income taxes | 2,168 | (3,414) | (5,864) |
Net income | $ 12,661 | $ 6,891 | $ 11,471 |
Net income per share of common stock: | |||
Basic (in dollars per share) | $ 0.57 | $ 0.31 | $ 0.51 |
Diluted (in dollars per share) | $ 0.56 | $ 0.31 | $ 0.51 |
Weighted average number of shares of common stock outstanding: | |||
Basic (in shares) | 22,361,898 | 22,453,409 | 22,492,986 |
Diluted (in shares) | 22,413,038 | 22,463,675 | 22,507,152 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Operating activities: | |||
Net income | $ 12,661 | $ 6,891 | $ 11,471 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 29,430 | 29,511 | 25,533 |
Impairment of long-lived assets and store closing costs | 585 | 0 | 0 |
Gain on disposal of property and equipment | (21) | (3) | |
Share-based compensation | 810 | 758 | 879 |
Deferred income tax (benefit) expense | (5,972) | 241 | 6,971 |
Non-cash interest expense | 12 | 12 | 13 |
Changes in operating assets and liabilities | |||
Accounts receivable, net | 145 | (1,100) | (1,171) |
Income tax receivable | 943 | 732 | (1,776) |
Merchandise inventory | (615) | (7,282) | (11,512) |
Prepaid expenses and other assets | (390) | (1,049) | (542) |
Accounts payable | 1,845 | 7,224 | 3,314 |
Accrued expenses | 3,644 | 1,521 | (7,345) |
Deferred compensation | (543) | 474 | 443 |
Deferred rent and leasehold incentives | 308 | 2,937 | 2,552 |
Net cash provided by operating activities | 42,863 | 40,849 | 28,827 |
Investing activities: | |||
Acquisition of property and equipment | (23,717) | (41,231) | (53,759) |
Proceeds from sale of property and equipment | 34 | 2,732 | 19 |
Proceeds from property insurance settlements | 140 | ||
Net cash used in investing activities | (23,543) | (38,499) | (53,740) |
Financing activities: | |||
Borrowings under credit facility | 376,000 | 291,765 | 234,604 |
Repayments under credit facility | (391,200) | (290,800) | (207,176) |
Repurchases of common stock | (581) | (261) | (829) |
Capital and financing lease obligations payments | (573) | (479) | (423) |
Payments on withholding tax for restricted stock unit vesting | (89) | (71) | (119) |
Loan fees paid | (42) | ||
Net cash (used in) provided by financing activities | (16,443) | 154 | 26,015 |
Net increase in cash and cash equivalents | 2,877 | 2,504 | 1,102 |
Cash and cash equivalents, beginning of year | 6,521 | 4,017 | 2,915 |
Cash and cash equivalents, end of year | 9,398 | 6,521 | 4,017 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 878 | 739 | 331 |
Cash paid for interest on capital and financing lease obligations, net of capitalized interest of $187, $482 and $538, respectively | 3,611 | 2,972 | 2,637 |
Income taxes paid | 1,958 | 2,656 | 6,370 |
Deferred compensation paid | 700 | ||
Supplemental disclosures of non-cash investing and financing activities: | |||
Acquisition of property and equipment not yet paid | 5,254 | 2,843 | 6,837 |
Proceeds from sale of property and equipment not yet received | 23 | 12 | |
Property acquired through capital and capital financing lease obligations | 8,285 | 1,499 | 4,438 |
Direct bank to bank payment for a change in credit facility provider | $ 18,858 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Capitalized interest | $ 187 | $ 482 | $ 538 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Sep. 30, 2015 | 22,496,628,000 | |||||
Balance at Sep. 30, 2015 | $ 22 | $ 54,982 | $ 60,484 | $ 115,488 | ||
Net income | 11,471 | 11,471 | ||||
Share-based compensation (in shares) | 23,951,000 | |||||
Share-based compensation | 1 | 609 | 139 | 749 | ||
Tax shortfall related to share-based compensation | (154) | (154) | ||||
Repurchase of common stock (in shares) | (67,970,000) | |||||
Repurchase of common stock | (829) | (829) | ||||
Balance (in shares) at Sep. 30, 2016 | 22,452,609,000 | |||||
Balance at Sep. 30, 2016 | 23 | 55,437 | 71,955 | (690) | 126,725 | |
Net income | 6,891 | 6,891 | ||||
Share-based compensation (in shares) | 25,447,000 | |||||
Share-based compensation | 399 | 288 | 687 | |||
Tax shortfall related to share-based compensation | (158) | $ (158) | ||||
Repurchase of common stock (in shares) | (30,000,000) | (30,000) | ||||
Repurchase of common stock | (262) | $ (262) | ||||
Balance (in shares) at Sep. 30, 2017 | 22,448,056,000 | |||||
Balance at Sep. 30, 2017 | 23 | 55,678 | 78,846 | (664) | 133,883 | |
Net income | 12,661 | 12,661 | ||||
Share-based compensation (in shares) | 26,899,000 | |||||
Share-based compensation | 516 | 205 | 721 | |||
Tax shortfall related to share-based compensation | 42 | $ 42 | ||||
Repurchase of common stock (in shares) | (101,573,000) | (101,573) | ||||
Repurchase of common stock | (581) | $ (581) | ||||
Balance (in shares) at Sep. 30, 2018 | 22,373,382,000 | |||||
Balance at Sep. 30, 2018 | $ 23 | $ 56,236 | $ 91,507 | $ (1,040) | $ 146,726 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Nature of Business Natural Grocers by Vitamin Cottage, Inc. (Natural Grocers or the holding company) and its consolidated subsidiaries (collectively, the Company) operate retail stores that specialize in natural and organic groceries and dietary supplements. The Company operates its retail stores under its trademark Natural Grocers by Vitamin Cottage 148 September 30, 2018, 37 24 12 eight seven five four three two one 140 126 September 30, 2017 2016, |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. Principles of Consolidation The accompanying consolidated financial statements include all the accounts of the holding company’s wholly owned subsidiaries, Vitamin Cottage Natural Food Markets, Inc. (the operating company) and Vitamin Cottage Two Ltd. Liability Company ( VC2 Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management reviews its estimates on an ongoing basis, including those related to valuation of inventories, useful lives of long-lived assets for depreciation and amortization, impairment of finite-lived intangible, long-lived assets, and goodwill, lease assumptions, allowances for self-insurance reserves, deferred tax assets and liabilities and litigation based on currently available information. Changes in facts and circumstances may Segment Information The Company has one Cash and Cash Equivalents Cash and cash equivalents include currency on hand, demand deposits with banks, money market funds and credit and debit card transactions which typically settle within three 90 Accounts Receivable Accounts receivable consists primarily of receivables from vendors for certain promotional programs, magazine advertising and other miscellaneous receivables and are presented net of any allowances for doubtful accounts. Vendor receivable balances are generally presented on a gross basis separate from any related payable due. Allowance for doubtful accounts is calculated based on historical experience and application of the specific identification method. Allowance for doubtful accounts totaled approximately $0.1 $0.2 September 30, 2018 2017, Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of investments in cash and cash equivalents. The Company’s cash and cash equivalent account balances, which are held in major financial institutions, exceeded the Federal Deposit Insurance Corporation’s federally insured limits by approximately $8.8 September 30, 2018. Vendor Concentration For the years ended September 30, 2018, 2017 2016, 64%, 62% 59%, Merchandise Inventory Merchandise inventory consists of goods held for sale. The cost of inventory includes certain costs associated with the preparation of inventory for sale, including inventory overhead costs. Merchandise inventory is carried at the lower of cost or net realizable value. Cost is determined using the weighted average cost method. Long-Lived Assets Depreciable long-lived assets primarily consist of leasehold and building improvements, which are stated at historical cost less accumulated depreciation. Depreciation is provided using the straight-line method over the useful life of the relevant asset. For land improvements and leasehold and building improvements, depreciation is recorded over the shorter of the assets’ useful lives or the lease terms. Maintenance, repairs and renewals that neither add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Gains and losses on disposition of property and equipment are included in store expenses in the year of disposition, and primarily relate to store relocations. The Company capitalizes interest, if applicable, as part of the historical costs of buildings and leasehold and building improvements. The Company capitalizes certain costs incurred with developing or obtaining internal-use software. Capitalized software costs are included in property and equipment in the consolidated balance sheets and are amortized over the estimated useful lives of the software. Software costs that do not Impairment of Finite-Lived Intangible and Long-Lived Assets Long-lived assets, such as property and equipment and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not first not $0.5 2018, no 2017 2016. Goodwill and Intangible Assets Intangible assets primarily consist of goodwill and trademarks. Goodwill and the Vitamin Cottage not The Company’s annual impairment testing of goodwill is performed as of July 1. first not not not two not not two first two September 30, 2018, no Deferred Financing Costs Certain costs incurred with borrowings or establishment of credit facilities are deferred. These costs are amortized over the life of the credit facility using the straight-line method. Leases The Company leases retail stores, a bulk food repackaging facility and distribution center and administrative offices under long-term operating or capital or financing leases. These leases include scheduled increases in minimum rents and renewal provisions at the option of the Company. The lease term for accounting purposes commences with the date the Company takes possession of the space and ends on the later of the primary lease term or the expiration of any renewal periods that are deemed to be reasonably assured at the inception of the lease. Operating L eases The Company accounts for operating leases with rent holidays and escalating payment terms by recognizing the associated expense on a straight-line basis over the lease term, and the difference between the average rental amount charged to expense and amounts payable under the leases are included in deferred rent. For certain leases, the Company has also received cash from landlords to compensate for costs incurred by the Company in making the store locations ready for operation (leasehold incentives). Leasehold incentives received from a landlord are deferred and recognized on a straight-line basis as a reduction to rent expense over the lease term. Capital F inancing L eases From time to time, the Company enters into leases with developers for build-to-suit store locations. Upon lease execution, the Company analyzes its involvement during the construction period. may not not Capital L eases Occasionally, the Company enters into leases that are deemed to be capital leases. For these leases, the Company capitalizes the lower of the present value of the minimum lease payments or the fair value of the leased asset at inception and records a corresponding capital lease obligation. The Company does not Self-Insurance The Company is self-insured for certain losses relating to employee medical and dental benefits and workers compensation. Stop-loss coverage has been purchased to limit exposure to any significant level of claims. Self-insured losses are accrued based upon the Company’s estimates of the aggregate claims incurred but not Revenue Recognition Revenue is recognized at the point of sale, net of in-house coupons, discounts and returns. Sales taxes are not Cost of Goods Sold and Occupancy Costs Cost of goods sold and occupancy costs includes the cost of inventory sold during the period net of discounts and allowances, as well as, distribution, shipping and handling costs, store occupancy costs and costs of the bulk food repackaging facility and distribution center. The amount shown is net of various rebates from third not Store Expenses Store expenses consist of store-level expenses such as salaries, benefits and share-based compensation, supplies, utilities, depreciation, gain or loss on disposal of assets, long-lived asset impairment charges, store closing costs and other related expenses associated with operations support. Store expenses also include purchasing support services and advertising and marketing costs. Administrative Expenses Administrative expenses consist of salaries, benefits and share-based compensation, occupancy costs, depreciation, office supplies, hardware and software expenses, professional services expenses and other general and administrative expenses. Pre-Opening and Relocation Expenses Costs associated with the opening of new stores or relocating existing stores are expensed as incurred. Advertising and Marketing Advertising and marketing costs are expensed as incurred and are included in store expenses and pre-opening and relocation expenses in the consolidated statements of income. Total advertising and marketing expenses for the years ended September 30, 2018, 2017 2016 $8.2 $10.7 $10.8 $4.1 $3.2 $3.2 September 30, 2018, 2017 2016, S hare - B ased C ompensation The Company adopted the 2012 July 25, 2012. The excess tax benefits for recognized compensation costs are reported as a credit to income tax expense and as operating cash outflows when such excess tax benefits are realized by a reduction to current taxes payable. Income Taxes The Company accounts for income taxes using the asset and liability method. This method requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between the tax basis and financial reporting basis of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates in the respective jurisdictions in which the Company operates. The Company considers the need to establish valuation allowances to reduce deferred income tax assets to the amounts the Company believes are more likely than not The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% Any interest or penalties incurred related to income taxes are expensed as incurred and treated as permanent differences for tax purposes. U.S. Tax Reform On December 22, 2017, January 1, 2018. 24.3% September 30, 2018 21.0% $4.3 September 30, 2018. The changes included in the Tax Reform Act are broad and complex. The final transition impacts of the Tax Reform Act may Recent Accounting Pronouncements In July 2015, 2015 11, 330, 2015 11 2015 11, first 2015 11 2015 11 December 15, 2016 2015 11 October 1, 2017. not September 30, 2018. In March 2016, 2016 09, 718, 2016 09 2016 09 2016 09 2016 09 October 1, 2017.The not September 30, 2018. In addition, under ASU 2016 09, September 30, 2018, no The Company has elected to continue to estimate the number of share-based awards expected to vest, as permitted by ASU 2016 09, ASU 2016 09 September 30, 2018. In January 2017, 2017 04, 350, 2017 04 2017 04 first two not January 1, 2017, first September 30, 2020. In February 2016, 2016 02, 842, 2016 02 No. 2016 02 12 2016 02 2016 02 first September 30, 2020, 2016 02 2018 11, 842, July 2018. The adoption of ASU 2016 02 2016 02 In January 2018, 2018 01, 842, 842” 2018 01 2018 01 not 842, not 840. 2016 02. In May 2014, 2014 09, 606, 2014 09 2014 09 2014 09’s 2014 09 one In July 2015, 2015 14, 2014 09, one December 15, 2017. 2014 09 first September 30, 2019. Further to ASU 2014 09 2015 14, 2016 08, 606, 2016 08 March 2016, 2016 12, 606, 2016 12 May 2016 2016 20, 606, 2016 20 December 2016. 2016 08 2016 12 2016 20 not one 2016 08, 2016 12 2016 20 2014 09. The Company does not 2019. 2014 09 not not In June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Basic earnings per share excludes dilution and is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if the Company’s granted but unvested restricted stock units were to vest, resulting in the issuance of common stock that would then share in the earnings of the Company. Presented below is basic and diluted earnings per share for the years ended September 30, 2018, 2017 2016, Year ended September 30, 2018 2017 201 6 Net income $ 12,661 6,891 11,471 Weighted average number of shares of common stock outstanding 22,361,898 22,453,409 22,492,986 Effect of dilutive securities 51,140 10,266 14,166 Weighted average number of shares of common stock outstanding including the effect of dilutive securities 22,413,038 22,463,675 22,507,152 Basic earnings per share $ 0.57 0.31 0.51 Diluted earnings per share $ 0.56 0.31 0.51 There were 207,805, 52,974 61,115 September 30, 2018, 2017 2016, The Company did not September 30, 2018, 2017 2016. As of September 30, 2018, 50,000,000 22,510,279 22,373,382 10,000,000 none |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4 . Fair Value Measurements The Company records its financial assets and liabilities at fair value in accordance with the framework for measuring fair value. The framework establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and market participant’s assumptions (unobservable inputs). Non-financial assets, such as goodwill and long-lived assets, are accounted for at fair value on a non-recurring basis. These items are tested for impairment on the occurrence of a triggering event or in the case of goodwill, at least on an annual basis. During fiscal year 2018, $1.2 $0.7 $0.5 not September 30, 2017. |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5 . Property and Equipment The Company had the following property and equipment balances as of September 30, 2018 2017, U seful lives As of September 30, (in years) 2018 2017 Construction in process n/a $ 15,879 5,286 Capitalized real estate leases for build-to-suit stores, including unamortized land of $617 and $617, respectively 40 35,700 29,548 Capitalized real estate leases 15 5,735 5,735 Land n/a 192 192 Buildings 40 19,262 19,259 Land improvements 5 - 24 1,016 1,159 Leasehold and building improvements 1 - 25 131,474 131,679 Fixtures and equipment 5 - 7 122,984 115,888 Computer hardware and software 3 - 5 21,181 19,108 353,423 327,854 Less accumulated depreciation and amortization (164,655 ) (143,437 ) Property and equipment, net $ 188,768 184,417 Capitalized costs for computer software development were approximately $0.6 $0.2 September 30, 2018 2017, $0.5 $0.7 September 30, 2018 2017, $0.2 $0.5 $0.5 September 30, 2018, 2017 2016, $0.5 September 30, 2018, 2017, 2016. Depreciation and amortization expense for the years ended September 30, 2018, 2017 2016 Year ended September 30, 2018 2017 201 6 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 768 1,063 868 Depreciation and amortization expense included in store expenses 27,174 27,022 23,428 Depreciation and amortization expense included in administrative expenses 1,488 1,426 1,237 Total depreciation and amortization expenses $ 29,430 29,511 25,533 |
Note 6 - Impairment of Long-liv
Note 6 - Impairment of Long-lived Assets and Store Closing Costs | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | 6. of Long - Lived Assets and Store C losing C osts In determining whether long-lived assets are recoverable, the Company’s estimates of undiscounted future cash flows over the estimated life or lease term of a store is based upon experience, historical results of the store, an estimate of future store profitability and economic conditions. As the Company forecasts future undiscounted cash flows for the remaining useful life of the asset group, estimates are subject to variability as future results can be difficult to predict. If a long-lived asset is found to be non-recoverable, an impairment charge is recorded equal to the difference between the asset’s carrying value and fair value. The Company estimates the fair value of the asset using a valuation method such as discounted cash flow or a relative, market-based approach. In the fourth 2018, $0.5 September 30, 2018. September 30, 2018. Additionally, other store closing costs for the Tulsa-Central store related to one $0.1 September 30, 2018 ( 19 No 2017. |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible Assets | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7 . Goodwill and Other Intangible Assets Goodwill and other intangible assets as of September 30, 2018 2017, Useful lives As of September 30, (in years) 2018 2017 Amortizable intangible assets: Covenants-not-to-compete 2 - 5 $ — 353 Other intangibles 0.5 - 3 138 109 Amortizable intangible assets 138 462 Less accumulated amortization (77 ) (394 ) Amortizable intangible assets, net 61 68 Trademark Indefinite 389 389 Total other intangibles, net 450 457 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 5,648 5,655 Amortization expense was less than $0.1 September 30, 2018, 2017 2016. |
Note 8 - Accrued Expenses
Note 8 - Accrued Expenses | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8 . Accrued Expenses The composition of accrued expenses as of September 30, 2018 2017, As of September 30, 2018 2017 Payroll and employee-related expenses $ 6,992 5,391 Accrued property, sales and use tax payable 7,043 6,399 Accrued marketing expenses 335 648 Deferred revenue related to gift card sales 1,453 906 Other 2,028 820 Total accrued expenses $ 17,851 14,164 |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt and Capital Leases Disclosures [Text Block] | 9 . Long-Term Debt Credit Facility On January 28, 2016, VC2. $50.0 $5.0 January 31, 2021. The Credit Facility requires compliance with certain customary operational and financial covenants, including a leverage ratio. The Credit Facility also contains certain other customary limitations on the Company’s ability to incur additional debt, guarantee other obligations, grant liens on assets and make investments or acquisitions, among other limitations. Additionally, the Credit Facility prohibits the payment of cash dividends to the holding company from the operating company without the administrative agent’s consent, except when no no not $10.0 The Company had $13.2 $28.4 September 30, 2018 September 30, 2017, September 30, 2018 September 30, 2017, $1.0 $35.8 $20.6 September 30, 2018 September 30, 2017, Capital and Financing Lease Obligation s The Company had 20 17 September 30, 2018 2017, 2 10 No 10 Inter est The Company incurred gross interest expense of approximately $4.7 $4.3 $3.5 September 30, 2018, 2017 2016, September 30, 2018, 2017 2016 $0.2 $0.5 $0.5 September 30, 2018, 2017 2016, |
Note 10 - Lease Commitments
Note 10 - Lease Commitments | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | 1 0 . Lease Commitments Operating Leases The Company leases retail stores, a bulk food repackaging facility and distribution center and administrative offices under long-term operating leases through 2062. September 30, 2018 2017 $11.0 $10.5 September 30, 2018 2017 $8.9 $9.2 $0.4 September 30, 2018, $0.3 September 30, 2017 $0.1 September 30, 2016. The Company has five one one 13 November 1999, February 2027 $0.1 $0.3 Minimum rental commitments and sublease rental income under the terms of the Company’s operating leases are as follows, dollars in thousands: Fiscal Year Third p arties Related p arties Sublease r ental i ncome Total o perating l eases 2019 $ 40,847 1,329 (415 ) 41,761 2020 40,974 1,333 (379 ) 41,928 2021 39,764 1,310 (366 ) 40,708 2022 38,958 1,308 (372 ) 39,894 2023 38,356 1,308 (361 ) 39,303 Thereafter 289,728 3,979 (764 ) 292,943 Total payments $ 488,627 10,567 (2,657 ) 496,537 Total rent expense, including common area expenses and warehouse rent, for the years ended September 30, 2018, 2017, 2016 $48.8 $43.8 $34.6 $0.6 $1.4 $1.4 September 30, 2018, 2017 2016, Capital and Financing Lease Obligations Capital and financing lease obligations as of September 30, 2018 2017, As of September 30, 2018 2017 Capital lease finance obligations, due in monthly installments through fiscal year 2033 $ 32,523 26,930 Capital lease obligations due in monthly installments through fiscal year 2041 4,763 4,999 Capital lease finance obligations for assets under construction, due in monthly installments through fiscal year 2033 2,350 1,499 Capital lease obligations for assets under construction, due in monthly installments through fiscal year 2034 1,506 — Total capital and financing lease obligations 41,142 33,428 Less current portion (736 ) (548 ) Total capital and financing lease obligations, net of current portion $ 40,406 32,880 Capital lease finance obligations From time to time, the Company enters into leases with developers for build-to-suit store locations. Upon lease execution, the Company analyzes its involvement during the construction period . not $32.5 $26.9 September 30, 2018 2017, 2033. not Capital lease obligations The Company had capital lease obligations totaling approximately $4.8 $5.0 September 30, 2018 2017, 2041. not Capital lease finance obligation s for assets under construction The Company had $2.4 $1.5 September 30, 2018 2017, No Capital lease obligation s for assets under construction The Company had $1.5 zero September 30, 2018 2017, No Future payments for capital lease finance obligations and capita l lease obligations Future payments under the terms of the leases for opened stores included in capital lease finance obligations and capital lease obligations as of September 30, 2018 Interest obligations Principal payment s on obligations Interest obligations P rincipal p ayments on obligations Total future payments on capital lease finance and capital lease obligations 2019 $ 3,503 417 481 261 4,662 2020 3,461 461 453 288 4,663 2021 3,412 542 423 319 4,696 2022 3,354 625 390 352 4,721 2023 3,286 750 353 398 4,787 Thereafter 15,380 6,504 1,768 3,144 26,796 Non-cash derecognition of capital lease finance obligations at end of lease term — 23,225 — — 23,225 Total future payments $ 32,396 32,524 3,868 4,762 73,550 Future payments under the terms of the lease for the store location at which construction was in progress as of September 30, 2018, first 2019, Interest expense on capital lease finance obligation s for assets under construction Principal payments on cap ital lease finance obligations for assets under construction Total future payments on capital lease finance o bligation s for assets under construction 2019 $ 186 20 206 2020 184 21 205 2021 182 23 205 2022 180 25 205 2023 178 27 205 Thereafter 1,514 810 2,324 Non-cash derecognition of capital lease finance obligations at end of lease term — 1,423 1,423 Total future payments $ 2,424 2,349 4,773 Interest expense on capital lease obligation s for assets under construction Principal payments on capital lease obligations for assets under construction Total future payments on capital lease o bligation s for asset s under construction 2019 $ 138 36 174 2020 152 45 197 2021 147 49 196 2022 142 55 197 2023 136 61 197 Thereafter 813 1,260 2,073 Total future payments $ 1,528 1,506 3,034 |
Note 11 - Share-based Compensat
Note 11 - Share-based Compensation | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 1 1 . S hare -Based Compensation The Company adopted the 2012 July 17, 2012. 1,090,151 186,179 September 30, 2018. not September 30, 2018, no one five not The shares of non-vested restricted stock units as of September 30, 2018 Shares Weighted average grant date fair value Non-vested as of September 30, 2016 92,586 $ 24.52 Granted 16,662 12.09 Forfeited (4,249 ) 27.28 Vested (34,653 ) 19.02 Non-vested as of September 30, 2017 70,346 21.56 Granted 396,949 8.88 Forfeited (15,626 ) 12.01 Vested (32,687 ) 17.97 Non-vested as of September 30, 2018 418,982 10.19 During the year ended September 30, 2018, 1,300 13 not Share-based compensation expense for restricted stock unit awards to certain employees who are not $0.5 $0.6 $0.7 September 30, 2018, 2017 2016, one $0.1 September 30, 2018. no September 30, 2017 2016. Each independent member of the Board receives an annual grant of restricted stock units equal to $60,000 $0.2 September 30, 2018, 2017 2016. The Company recorded total share-based compensation expense before income taxes of approximately $0.8 $0.8 $0.9 September 30, 2018, 2017 2016, not September 30, 2018, 2017 2016. As of September 30, 2018, $3.1 two |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 1 2 . S tockholders ’ Equity Share Repurchases On May 4, 2017, two may $10.0 May 2, 2018, two May 4, 2020. 10b 18 1934, may 10b5 1 not may The following table summarizes share repurchase activity for the periods: Year ended September 30, 2018 2017 Total number of common shares acquired 101,573 30,000 Average price per common share acquired (including commissions) $ 5.72 8.71 Total cost of common shares acquired (in thousands) $ 581 262 During fiscal years 2018 2017, 26,899 25,447 $0.2 $0.3 September 30, 2018 September 30, 2017, 136,897 62,223 $1.0 $0.7 |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 1 3 . Related Party Transactions The Company has ongoing relationships with related parties as noted: Chalet Properties, LLC : five one 10 four $1.2 September 30, 2018, 2017 2016. Isely Family Land Trust LLC: one 11 $0.3 September 30, 2018, 2017 2016. FTVC LLC: one four $0.1 September 30, 2018, 2017 2016. |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 4 . Income Taxes The following are the components of the provision for income taxes as of September 30, 2018, 2017 2016, Year ended September 30, 2018 2017 201 6 Current federal income tax expense (benefit) $ 3,083 2,837 (853 ) Current state income tax expense (benefit) 721 336 (254 ) Total current income tax expense (benefit) 3,804 3,173 (1,107 ) Deferred federal income tax (benefit) expense (5,760 ) 206 6,103 Deferred state income tax (benefit) expense (212 ) 35 868 Total deferred income tax (benefit) expense (5,972 ) 241 6,971 Total (benefit from) provision for income taxes $ (2,168 ) 3,414 5,864 The differences between the United States federal statutory income tax rate and the Company’s effective tax rate are as follows: Year ended September 30, 2018 2017 201 6 Statutory tax rate 24.3 % 34.0 34.0 State income taxes, net of federal income tax expense 3.3 2.7 2.9 Remeasurement (41.3 ) — — Enhanced food deduction (1.8 ) (2.7 ) (1.6 ) Deferred tax liability adjustment (6.3 ) — — Other, net 1.1 (0.9 ) (1.4 ) Effective tax rate (20.7 )% 33.1 33.9 The Company’s effective tax rate decreased from 33.1% September 30, 2017 20.7 September 30, 2018 Deferred taxes have been classified on the consolidated balance sheets as follows, dollars in thousands: As of September 30, 2018 2017 Current assets $ — — Long-term liabilities (6,447 ) (12,419 ) Net deferred tax liabilities $ (6,447 ) (12,419 ) The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows, dollars in thousands: As of September 30, 2018 2017 Deferred tax assets Capital and financing lease obligations $ 10,022 12,670 Goodwill 955 1,853 Leasehold incentives 2,180 3,484 Deferred rent 2,706 3,980 Trademarks 658 1,021 Accrued employee benefits 642 910 Deferred compensation 169 468 Other 339 439 Gross deferred tax assets 17,671 24,825 Deferred tax liabilities Property and equipment (21,489 ) (33,127 ) Leasehold improvements (2,407 ) (3,774 ) Subleases (214 ) (343 ) Other (8 ) — Gross deferred tax liabilities (24,118 ) (37,244 ) Net deferred tax liabilities $ (6,447 ) (12,419 ) The Company believes that it is more likely than not The Company utilized less than $0.1 September 30, 2018 2017. The Company did not September 30, 2018 2017. The Company files income tax returns with federal, state and local tax authorities. With limited exceptions, the Company is no 2015 no 2013 |
Note 15 - Defined Contribution
Note 15 - Defined Contribution Plan | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 1 5 . Defined Contribution Plan The Company has a defined contribution retirement plan (the Retirement Plan) covering substantially all employees who meet certain eligibility requirements as to age and length of service. The Retirement Plan incorporates the salary deferral provisions of Section 401 1986, may may 25% $2,500. September 30, 2018, $0.6 September 30, 2019. September 30, 2017, $0.1 |
Note 16 - Segment Reporting
Note 16 - Segment Reporting | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 6 . Segment Reporting The Company has one Sales from the Company’s natural and organic retail stores are derived from sales of the following products which are presented as a percentage of sales for the years ended September 30, 2018, 2017 2016 As of September 30, 2018 2017 201 6 Grocery 68 % 67 67 Dietary supplements 21 22 22 Body care, pet care and other 11 11 11 100.0 % 100.0 100.0 |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 7 . Commitments and Contingencies Self-Insurance The Company is self-insured for certain losses relating to employee medical and dental benefits and workers compensation, subject to a stop loss policy. The self-insurance liability related to claims under the Company’s health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of payroll and employee-related expenses in accrued expenses. Liabilities associated with the risks that are retained by the Company are estimated, in part, by considering historical claims experience, demographic factors and other actuarial assumptions. While the Company believes that its assumptions are appropriate, the estimated accrual for these liabilities could be significantly affected if future occurrences and claims materially differ from these assumptions and historical trends. Legal The Company is periodically involved in various legal proceedings that are incidental to the conduct of its business, including but not may not |
Note 18 - Selected Quarterly Fi
Note 18 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 1 8 . Selected Quarterly Financial Data (Unaudited) The summarized unaudited quarterly financial data presented below reflect all adjustments, which in the opinion of management are of a normal and recurring nature, necessary to present fairly the results of operations for the periods presented. Summarized unaudited quarterly financial data for each fiscal year is as follows, dollars in thousands, except per share data: Fiscal Year Ended September 30, 2018 Three months ended December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 Net sales $ 202,480 215,911 213,130 217,521 Cost of goods sold and occupancy costs 149,321 157,630 156,299 160,219 Gross profit 53,159 58,281 56,831 57,302 Store expenses 45,166 46,480 47,000 48,095 Administrative expenses 5,257 5,458 5,630 5,161 Pre-opening and relocation expenses 543 697 443 590 Operating income 2,193 5,646 3,758 3,456 Interest expense, net (1,089 ) (1,122 ) (1,170 ) (1,179 ) Income before income taxes 1,104 4,524 2,588 2,277 Benefit from (provision for) income taxes 4,077 (1,120 ) (597 ) (192 ) Net income $ 5,181 3,404 1,991 2,085 Basic earnings per share $ 0.23 0.15 0.09 0.10 Diluted earnings per share 0.23 0.15 0.09 0.09 Fiscal Year Ended September 30, 2017 Three months ended December 31, 201 6 March 31, 2017 June 30, 2017 September 30, 2017 Net sales $ 183,577 192,203 194,709 198,541 Cost of goods sold and occupancy costs 131,424 138,045 141,928 145,297 Gross profit 52,153 54,158 52,781 53,244 Store expenses 41,843 42,400 45,028 45,079 Administrative expenses 4,883 4,959 5,105 5,142 Pre-opening and relocation expenses 1,261 1,284 970 284 Operating income 4,166 5,515 1,678 2,739 Interest expense, net (983 ) (879 ) (876 ) (1,055 ) Income before income taxes 3,183 4,636 802 1,684 Provision for income taxes (1,122 ) (1,640 ) (204 ) (448 ) Net income $ 2,061 2,996 598 1,236 Basic earnings per share $ 0.09 0.13 0.03 0.06 Diluted earnings per share 0.09 0.13 0.03 0.06 |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19 . S ubsequent Event s On November 9, 2018, one two 6 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include all the accounts of the holding company’s wholly owned subsidiaries, Vitamin Cottage Natural Food Markets, Inc. (the operating company) and Vitamin Cottage Two Ltd. Liability Company ( VC2 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management reviews its estimates on an ongoing basis, including those related to valuation of inventories, useful lives of long-lived assets for depreciation and amortization, impairment of finite-lived intangible, long-lived assets, and goodwill, lease assumptions, allowances for self-insurance reserves, deferred tax assets and liabilities and litigation based on currently available information. Changes in facts and circumstances may |
Segment Reporting, Policy [Policy Text Block] | Segment Information The Company has one |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include currency on hand, demand deposits with banks, money market funds and credit and debit card transactions which typically settle within three 90 |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Accounts receivable consists primarily of receivables from vendors for certain promotional programs, magazine advertising and other miscellaneous receivables and are presented net of any allowances for doubtful accounts. Vendor receivable balances are generally presented on a gross basis separate from any related payable due. Allowance for doubtful accounts is calculated based on historical experience and application of the specific identification method. Allowance for doubtful accounts totaled approximately $0.1 $0.2 September 30, 2018 2017, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of investments in cash and cash equivalents. The Company’s cash and cash equivalent account balances, which are held in major financial institutions, exceeded the Federal Deposit Insurance Corporation’s federally insured limits by approximately $8.8 September 30, 2018. |
Vendor Concentration [Policy Text Block] | Vendor Concentration For the years ended September 30, 2018, 2017 2016, 64%, 62% 59%, |
Inventory, Policy [Policy Text Block] | Merchandise Inventory Merchandise inventory consists of goods held for sale. The cost of inventory includes certain costs associated with the preparation of inventory for sale, including inventory overhead costs. Merchandise inventory is carried at the lower of cost or net realizable value. Cost is determined using the weighted average cost method. |
Property, Plant and Equipment, Policy [Policy Text Block] | Long-Lived Assets Depreciable long-lived assets primarily consist of leasehold and building improvements, which are stated at historical cost less accumulated depreciation. Depreciation is provided using the straight-line method over the useful life of the relevant asset. For land improvements and leasehold and building improvements, depreciation is recorded over the shorter of the assets’ useful lives or the lease terms. Maintenance, repairs and renewals that neither add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Gains and losses on disposition of property and equipment are included in store expenses in the year of disposition, and primarily relate to store relocations. The Company capitalizes interest, if applicable, as part of the historical costs of buildings and leasehold and building improvements. The Company capitalizes certain costs incurred with developing or obtaining internal-use software. Capitalized software costs are included in property and equipment in the consolidated balance sheets and are amortized over the estimated useful lives of the software. Software costs that do not |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of Finite-Lived Intangible and Long-Lived Assets Long-lived assets, such as property and equipment and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not first not $0.5 2018, no 2017 2016. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets Intangible assets primarily consist of goodwill and trademarks. Goodwill and the Vitamin Cottage not The Company’s annual impairment testing of goodwill is performed as of July 1. first not not not two not not two first two September 30, 2018, no |
Deferred Charges, Policy [Policy Text Block] | Deferred Financing Costs Certain costs incurred with borrowings or establishment of credit facilities are deferred. These costs are amortized over the life of the credit facility using the straight-line method. |
Lessee, Leases [Policy Text Block] | Leases The Company leases retail stores, a bulk food repackaging facility and distribution center and administrative offices under long-term operating or capital or financing leases. These leases include scheduled increases in minimum rents and renewal provisions at the option of the Company. The lease term for accounting purposes commences with the date the Company takes possession of the space and ends on the later of the primary lease term or the expiration of any renewal periods that are deemed to be reasonably assured at the inception of the lease. Operating L eases The Company accounts for operating leases with rent holidays and escalating payment terms by recognizing the associated expense on a straight-line basis over the lease term, and the difference between the average rental amount charged to expense and amounts payable under the leases are included in deferred rent. For certain leases, the Company has also received cash from landlords to compensate for costs incurred by the Company in making the store locations ready for operation (leasehold incentives). Leasehold incentives received from a landlord are deferred and recognized on a straight-line basis as a reduction to rent expense over the lease term. Capital F inancing L eases From time to time, the Company enters into leases with developers for build-to-suit store locations. Upon lease execution, the Company analyzes its involvement during the construction period. may not not Capital L eases Occasionally, the Company enters into leases that are deemed to be capital leases. For these leases, the Company capitalizes the lower of the present value of the minimum lease payments or the fair value of the leased asset at inception and records a corresponding capital lease obligation. The Company does not |
Self Insurance Reserve [Policy Text Block] | Self-Insurance The Company is self-insured for certain losses relating to employee medical and dental benefits and workers compensation. Stop-loss coverage has been purchased to limit exposure to any significant level of claims. Self-insured losses are accrued based upon the Company’s estimates of the aggregate claims incurred but not |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue is recognized at the point of sale, net of in-house coupons, discounts and returns. Sales taxes are not |
Cost of Goods Sold and Occupancy Costs [Policy Text Block] | Cost of Goods Sold and Occupancy Costs Cost of goods sold and occupancy costs includes the cost of inventory sold during the period net of discounts and allowances, as well as, distribution, shipping and handling costs, store occupancy costs and costs of the bulk food repackaging facility and distribution center. The amount shown is net of various rebates from third not |
Store Expenses [Policy Text Block] | Store Expenses Store expenses consist of store-level expenses such as salaries, benefits and share-based compensation, supplies, utilities, depreciation, gain or loss on disposal of assets, long-lived asset impairment charges, store closing costs and other related expenses associated with operations support. Store expenses also include purchasing support services and advertising and marketing costs. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Administrative Expenses Administrative expenses consist of salaries, benefits and share-based compensation, occupancy costs, depreciation, office supplies, hardware and software expenses, professional services expenses and other general and administrative expenses. |
Pre-Opening Costs and Relocation Expenses [Policy Text Block] | Pre-Opening and Relocation Expenses Costs associated with the opening of new stores or relocating existing stores are expensed as incurred. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising and Marketing Advertising and marketing costs are expensed as incurred and are included in store expenses and pre-opening and relocation expenses in the consolidated statements of income. Total advertising and marketing expenses for the years ended September 30, 2018, 2017 2016 $8.2 $10.7 $10.8 $4.1 $3.2 $3.2 September 30, 2018, 2017 2016, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | S hare - B ased C ompensation The Company adopted the 2012 July 25, 2012. The excess tax benefits for recognized compensation costs are reported as a credit to income tax expense and as operating cash outflows when such excess tax benefits are realized by a reduction to current taxes payable. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method. This method requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between the tax basis and financial reporting basis of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates in the respective jurisdictions in which the Company operates. The Company considers the need to establish valuation allowances to reduce deferred income tax assets to the amounts the Company believes are more likely than not The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% Any interest or penalties incurred related to income taxes are expensed as incurred and treated as permanent differences for tax purposes. U.S. Tax Reform On December 22, 2017, January 1, 2018. 24.3% September 30, 2018 21.0% $4.3 September 30, 2018. The changes included in the Tax Reform Act are broad and complex. The final transition impacts of the Tax Reform Act may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In July 2015, 2015 11, 330, 2015 11 2015 11, first 2015 11 2015 11 December 15, 2016 2015 11 October 1, 2017. not September 30, 2018. In March 2016, 2016 09, 718, 2016 09 2016 09 2016 09 2016 09 October 1, 2017.The not September 30, 2018. In addition, under ASU 2016 09, September 30, 2018, no The Company has elected to continue to estimate the number of share-based awards expected to vest, as permitted by ASU 2016 09, ASU 2016 09 September 30, 2018. In January 2017, 2017 04, 350, 2017 04 2017 04 first two not January 1, 2017, first September 30, 2020. In February 2016, 2016 02, 842, 2016 02 No. 2016 02 12 2016 02 2016 02 first September 30, 2020, 2016 02 2018 11, 842, July 2018. The adoption of ASU 2016 02 2016 02 In January 2018, 2018 01, 842, 842” 2018 01 2018 01 not 842, not 840. 2016 02. In May 2014, 2014 09, 606, 2014 09 2014 09 2014 09’s 2014 09 one In July 2015, 2015 14, 2014 09, one December 15, 2017. 2014 09 first September 30, 2019. Further to ASU 2014 09 2015 14, 2016 08, 606, 2016 08 March 2016, 2016 12, 606, 2016 12 May 2016 2016 20, 606, 2016 20 December 2016. 2016 08 2016 12 2016 20 not one 2016 08, 2016 12 2016 20 2014 09. The Company does not 2019. 2014 09 not not In June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended September 30, 2018 2017 201 6 Net income $ 12,661 6,891 11,471 Weighted average number of shares of common stock outstanding 22,361,898 22,453,409 22,492,986 Effect of dilutive securities 51,140 10,266 14,166 Weighted average number of shares of common stock outstanding including the effect of dilutive securities 22,413,038 22,463,675 22,507,152 Basic earnings per share $ 0.57 0.31 0.51 Diluted earnings per share $ 0.56 0.31 0.51 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | U seful lives As of September 30, (in years) 2018 2017 Construction in process n/a $ 15,879 5,286 Capitalized real estate leases for build-to-suit stores, including unamortized land of $617 and $617, respectively 40 35,700 29,548 Capitalized real estate leases 15 5,735 5,735 Land n/a 192 192 Buildings 40 19,262 19,259 Land improvements 5 - 24 1,016 1,159 Leasehold and building improvements 1 - 25 131,474 131,679 Fixtures and equipment 5 - 7 122,984 115,888 Computer hardware and software 3 - 5 21,181 19,108 353,423 327,854 Less accumulated depreciation and amortization (164,655 ) (143,437 ) Property and equipment, net $ 188,768 184,417 |
Depreciation and Amortization Expense [Table Text Block] | Year ended September 30, 2018 2017 201 6 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 768 1,063 868 Depreciation and amortization expense included in store expenses 27,174 27,022 23,428 Depreciation and amortization expense included in administrative expenses 1,488 1,426 1,237 Total depreciation and amortization expenses $ 29,430 29,511 25,533 |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Useful lives As of September 30, (in years) 2018 2017 Amortizable intangible assets: Covenants-not-to-compete 2 - 5 $ — 353 Other intangibles 0.5 - 3 138 109 Amortizable intangible assets 138 462 Less accumulated amortization (77 ) (394 ) Amortizable intangible assets, net 61 68 Trademark Indefinite 389 389 Total other intangibles, net 450 457 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 5,648 5,655 |
Note 8 - Accrued Expenses (Tabl
Note 8 - Accrued Expenses (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | As of September 30, 2018 2017 Payroll and employee-related expenses $ 6,992 5,391 Accrued property, sales and use tax payable 7,043 6,399 Accrued marketing expenses 335 648 Deferred revenue related to gift card sales 1,453 906 Other 2,028 820 Total accrued expenses $ 17,851 14,164 |
Note 10 - Lease Commitments (Ta
Note 10 - Lease Commitments (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Fiscal Year Third p arties Related p arties Sublease r ental i ncome Total o perating l eases 2019 $ 40,847 1,329 (415 ) 41,761 2020 40,974 1,333 (379 ) 41,928 2021 39,764 1,310 (366 ) 40,708 2022 38,958 1,308 (372 ) 39,894 2023 38,356 1,308 (361 ) 39,303 Thereafter 289,728 3,979 (764 ) 292,943 Total payments $ 488,627 10,567 (2,657 ) 496,537 |
Schedule of Debt [Table Text Block] | As of September 30, 2018 2017 Capital lease finance obligations, due in monthly installments through fiscal year 2033 $ 32,523 26,930 Capital lease obligations due in monthly installments through fiscal year 2041 4,763 4,999 Capital lease finance obligations for assets under construction, due in monthly installments through fiscal year 2033 2,350 1,499 Capital lease obligations for assets under construction, due in monthly installments through fiscal year 2034 1,506 — Total capital and financing lease obligations 41,142 33,428 Less current portion (736 ) (548 ) Total capital and financing lease obligations, net of current portion $ 40,406 32,880 |
Asset under Construction, Capital Lease Finance Obligations [Member] | |
Notes Tables | |
Schedule of Future Minimum Lease Payments for Capital and Finance Lease Obligations for Assets Under Construction [Table Text Block] | Interest expense on capital lease finance obligation s for assets under construction Principal payments on cap ital lease finance obligations for assets under construction Total future payments on capital lease finance o bligation s for assets under construction 2019 $ 186 20 206 2020 184 21 205 2021 182 23 205 2022 180 25 205 2023 178 27 205 Thereafter 1,514 810 2,324 Non-cash derecognition of capital lease finance obligations at end of lease term — 1,423 1,423 Total future payments $ 2,424 2,349 4,773 Interest expense on capital lease obligation s for assets under construction Principal payments on capital lease obligations for assets under construction Total future payments on capital lease o bligation s for asset s under construction 2019 $ 138 36 174 2020 152 45 197 2021 147 49 196 2022 142 55 197 2023 136 61 197 Thereafter 813 1,260 2,073 Total future payments $ 1,528 1,506 3,034 |
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital and Financing Lease Obligations [Member] | |
Notes Tables | |
Schedule of Future Minimum Lease Payments for Capital and Finance Lease Obligations for Assets Under Construction [Table Text Block] | Interest obligations Principal payment s on obligations Interest obligations P rincipal p ayments on obligations Total future payments on capital lease finance and capital lease obligations 2019 $ 3,503 417 481 261 4,662 2020 3,461 461 453 288 4,663 2021 3,412 542 423 319 4,696 2022 3,354 625 390 352 4,721 2023 3,286 750 353 398 4,787 Thereafter 15,380 6,504 1,768 3,144 26,796 Non-cash derecognition of capital lease finance obligations at end of lease term — 23,225 — — 23,225 Total future payments $ 32,396 32,524 3,868 4,762 73,550 |
Note 11 - Share-based Compens_2
Note 11 - Share-based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares Weighted average grant date fair value Non-vested as of September 30, 2016 92,586 $ 24.52 Granted 16,662 12.09 Forfeited (4,249 ) 27.28 Vested (34,653 ) 19.02 Non-vested as of September 30, 2017 70,346 21.56 Granted 396,949 8.88 Forfeited (15,626 ) 12.01 Vested (32,687 ) 17.97 Non-vested as of September 30, 2018 418,982 10.19 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Class of Treasury Stock [Table Text Block] | Year ended September 30, 2018 2017 Total number of common shares acquired 101,573 30,000 Average price per common share acquired (including commissions) $ 5.72 8.71 Total cost of common shares acquired (in thousands) $ 581 262 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended September 30, 2018 2017 201 6 Current federal income tax expense (benefit) $ 3,083 2,837 (853 ) Current state income tax expense (benefit) 721 336 (254 ) Total current income tax expense (benefit) 3,804 3,173 (1,107 ) Deferred federal income tax (benefit) expense (5,760 ) 206 6,103 Deferred state income tax (benefit) expense (212 ) 35 868 Total deferred income tax (benefit) expense (5,972 ) 241 6,971 Total (benefit from) provision for income taxes $ (2,168 ) 3,414 5,864 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended September 30, 2018 2017 201 6 Statutory tax rate 24.3 % 34.0 34.0 State income taxes, net of federal income tax expense 3.3 2.7 2.9 Remeasurement (41.3 ) — — Enhanced food deduction (1.8 ) (2.7 ) (1.6 ) Deferred tax liability adjustment (6.3 ) — — Other, net 1.1 (0.9 ) (1.4 ) Effective tax rate (20.7 )% 33.1 33.9 |
Schedule of Classification of Deferred Tax Assets and Liabilities [Table Text Block] | As of September 30, 2018 2017 Current assets $ — — Long-term liabilities (6,447 ) (12,419 ) Net deferred tax liabilities $ (6,447 ) (12,419 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of September 30, 2018 2017 Deferred tax assets Capital and financing lease obligations $ 10,022 12,670 Goodwill 955 1,853 Leasehold incentives 2,180 3,484 Deferred rent 2,706 3,980 Trademarks 658 1,021 Accrued employee benefits 642 910 Deferred compensation 169 468 Other 339 439 Gross deferred tax assets 17,671 24,825 Deferred tax liabilities Property and equipment (21,489 ) (33,127 ) Leasehold improvements (2,407 ) (3,774 ) Subleases (214 ) (343 ) Other (8 ) — Gross deferred tax liabilities (24,118 ) (37,244 ) Net deferred tax liabilities $ (6,447 ) (12,419 ) |
Note 16 - Segment Reporting (Ta
Note 16 - Segment Reporting (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Product Information [Table Text Block] | As of September 30, 2018 2017 201 6 Grocery 68 % 67 67 Dietary supplements 21 22 22 Body care, pet care and other 11 11 11 100.0 % 100.0 100.0 |
Note 18 - Selected Quarterly _2
Note 18 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Fiscal Year Ended September 30, 2018 Three months ended December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 Net sales $ 202,480 215,911 213,130 217,521 Cost of goods sold and occupancy costs 149,321 157,630 156,299 160,219 Gross profit 53,159 58,281 56,831 57,302 Store expenses 45,166 46,480 47,000 48,095 Administrative expenses 5,257 5,458 5,630 5,161 Pre-opening and relocation expenses 543 697 443 590 Operating income 2,193 5,646 3,758 3,456 Interest expense, net (1,089 ) (1,122 ) (1,170 ) (1,179 ) Income before income taxes 1,104 4,524 2,588 2,277 Benefit from (provision for) income taxes 4,077 (1,120 ) (597 ) (192 ) Net income $ 5,181 3,404 1,991 2,085 Basic earnings per share $ 0.23 0.15 0.09 0.10 Diluted earnings per share 0.23 0.15 0.09 0.09 Fiscal Year Ended September 30, 2017 Three months ended December 31, 201 6 March 31, 2017 June 30, 2017 September 30, 2017 Net sales $ 183,577 192,203 194,709 198,541 Cost of goods sold and occupancy costs 131,424 138,045 141,928 145,297 Gross profit 52,153 54,158 52,781 53,244 Store expenses 41,843 42,400 45,028 45,079 Administrative expenses 4,883 4,959 5,105 5,142 Pre-opening and relocation expenses 1,261 1,284 970 284 Operating income 4,166 5,515 1,678 2,739 Interest expense, net (983 ) (879 ) (876 ) (1,055 ) Income before income taxes 3,183 4,636 802 1,684 Provision for income taxes (1,122 ) (1,640 ) (204 ) (448 ) Net income $ 2,061 2,996 598 1,236 Basic earnings per share $ 0.09 0.13 0.03 0.06 Diluted earnings per share 0.09 0.13 0.03 0.06 |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 |
Number of Stores | 148 | 140 | 126 |
COLORADO | |||
Number of Stores | 37 | ||
TEXAS | |||
Number of Stores | 24 | ||
ARIZONA | |||
Number of Stores | 12 | ||
KANSAS | |||
Number of Stores | 8 | ||
OKLAHOMA | |||
Number of Stores | 7 | ||
IOWA | |||
Number of Stores | 5 | ||
IDAHO | |||
Number of Stores | 4 | ||
WASHINGTON | |||
Number of Stores | 3 | ||
NORTH DAKOTA | |||
Number of Stores | 2 | ||
MINNESOTA | |||
Number of Stores | 1 | ||
OREGON | |||
Number of Stores | 12 | ||
UTAH | |||
Number of Stores | 8 | ||
MISSOURI | |||
Number of Stores | 5 | ||
NEW MEXICO | |||
Number of Stores | 5 | ||
MONTANA | |||
Number of Stores | 4 | ||
ARKANSAS | |||
Number of Stores | 3 | ||
NEBRASKA | |||
Number of Stores | 3 | ||
NEVADA | |||
Number of Stores | 3 | ||
WYOMING | |||
Number of Stores | 2 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019 | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Number of Reportable Segments | 1 | 1 | |||||||||||
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | $ 100 | $ 200 | $ 100 | $ 100 | $ 200 | ||||||||
Cash, Uninsured Amount | 8,800 | $ 8,800 | 8,800 | ||||||||||
Asset Impairment Charges, Total | 585 | 0 | $ 0 | ||||||||||
Goodwill, Impairment Loss | 0 | ||||||||||||
Marketing and Advertising Expense, Total | 8,200 | 10,700 | 10,800 | ||||||||||
Revenues, Total | $ 217,521 | $ 213,130 | $ 215,911 | $ 202,480 | $ 198,541 | $ 194,709 | $ 192,203 | $ 183,577 | $ 849,042 | $ 769,030 | $ 705,499 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 24.30% | 34.00% | 34.00% | ||||||||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ (4,300) | ||||||||||||
Scenario, Forecast [Member] | |||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||||||||
Vendor Reimbursements [Member] | |||||||||||||
Revenues, Total | $ 4,100 | $ 3,200 | $ 3,200 | ||||||||||
Supplier Concentration Risk [Member] | Cost of Goods, Product Line [Member] | |||||||||||||
Concentration Risk, Percentage | 64.00% | 62.00% | 59.00% |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Dividends, Total | $ 0 | $ 0 | $ 0 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | |
Common Stock, Shares, Issued, Total | 22,510,279 | 22,510,279 | |
Common Stock, Shares, Outstanding, Ending Balance | 22,373,382 | 22,448,056 | |
Preferred Stock, Shares Authorized | 10,000,000 | ||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | ||
Preferred Stock, Shares Issued, Total | 0 | ||
Restricted Stock Units (RSUs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 207,805 | 52,974 | 61,115 |
Note 3 - Earnings Per Share - B
Note 3 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 2,085 | $ 1,991 | $ 3,404 | $ 5,181 | $ 1,236 | $ 598 | $ 2,996 | $ 2,061 | $ 12,661 | $ 6,891 | $ 11,471 |
Weighted average number of shares of common stock outstanding (in shares) | 22,361,898 | 22,453,409 | 22,492,986 | ||||||||
Effect of dilutive securities (in shares) | 51,140 | 10,266 | 14,166 | ||||||||
Weighted average number of shares of common stock outstanding including the effect of dilutive securities (in shares) | 22,413,038 | 22,463,675 | 22,507,152 | ||||||||
Basic earnings per share (in dollars per share) | $ 0.10 | $ 0.09 | $ 0.15 | $ 0.23 | $ 0.06 | $ 0.03 | $ 0.13 | $ 0.09 | $ 0.57 | $ 0.31 | $ 0.51 |
Diluted earnings per share (in dollars per share) | $ 0.09 | $ 0.09 | $ 0.15 | $ 0.23 | $ 0.06 | $ 0.03 | $ 0.13 | $ 0.09 | $ 0.56 | $ 0.31 | $ 0.51 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Long-Lived Assets | $ 1,200 | ||
Assets, Fair Value Disclosure | 700 | ||
Asset Impairment Charges, Total | $ 585 | $ 0 | $ 0 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest Paid, Capitalized, Investing Activities | $ 187 | $ 482 | $ 538 |
Software Development [Member] | |||
Property, Plant and Equipment, Additions | 600 | 200 | |
Leasehold and Building Improvements and Fixtures and Equipment [Member] | |||
Property, Plant and Equipment, Additions | 500 | 700 | |
Capital and Financing Lease Obligations [Member] | |||
Interest Paid, Capitalized, Investing Activities | 200 | 500 | 500 |
Property, Plant and Equipment, Additions, Capitalized Internal Staff Compensation [Member] | |||
Depreciation, Total | $ 500 | $ 500 | $ 500 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Property, plant, and equipment, gross | $ 353,423 | $ 327,854 |
Less accumulated depreciation and amortization | (164,655) | (143,437) |
Property and equipment, net | 188,768 | 184,417 |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | 15,879 | 5,286 |
Assets Held Under Real Estate Leases for Build to Suit Stores [Member] | ||
Property, plant, and equipment, gross | $ 35,700 | 29,548 |
Useful life (Year) | 40 years | |
Assets Held under Capital Leases [Member] | ||
Property, plant, and equipment, gross | $ 5,735 | 5,735 |
Useful life (Year) | 15 years | |
Land [Member] | ||
Property, plant, and equipment, gross | $ 192 | 192 |
Building [Member] | ||
Property, plant, and equipment, gross | $ 19,262 | 19,259 |
Useful life (Year) | 40 years | |
Land Improvements [Member] | ||
Property, plant, and equipment, gross | $ 1,016 | 1,159 |
Land Improvements [Member] | Minimum [Member] | ||
Useful life (Year) | 5 years | |
Land Improvements [Member] | Maximum [Member] | ||
Useful life (Year) | 24 years | |
Leasehold and Building Improvements [Member] | ||
Property, plant, and equipment, gross | $ 131,474 | 131,679 |
Leasehold and Building Improvements [Member] | Minimum [Member] | ||
Useful life (Year) | 1 year | |
Leasehold and Building Improvements [Member] | Maximum [Member] | ||
Useful life (Year) | 25 years | |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | $ 122,984 | 115,888 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Useful life (Year) | 5 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Useful life (Year) | 7 years | |
Computer Hardware and Software [Member] | ||
Property, plant, and equipment, gross | $ 21,181 | $ 19,108 |
Computer Hardware and Software [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Computer Hardware and Software [Member] | Maximum [Member] | ||
Useful life (Year) | 5 years |
Note 5 - Property and Equipme_5
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Property, plant, and equipment, gross | $ 353,423 | $ 327,854 |
Unamortized Land [Member] | ||
Property, plant, and equipment, gross | $ 617 | $ 617 |
Note 5 - Property and Equipme_6
Note 5 - Property and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Depreciation and amortization | $ 29,430 | $ 29,511 | $ 25,533 |
Cost of Sales [Member] | |||
Depreciation and amortization | 768 | 1,063 | 868 |
Stores [Member] | |||
Depreciation and amortization | 27,174 | 27,022 | 23,428 |
General and Administrative Expense [Member] | |||
Depreciation and amortization | $ 1,488 | $ 1,426 | $ 1,237 |
Note 6 - Impairment of Long-l_2
Note 6 - Impairment of Long-lived Assets and Store Closing Costs (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Asset Impairment Charges, Total | $ 585 | $ 0 | $ 0 |
Severance Costs | $ 100 | $ 0 |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Maximum [Member] | |||
Amortization of Intangible Assets, Total | $ 0.1 | $ 0.1 | $ 0.1 |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangible Assets - Summary of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Amortizable intangible assets: | ||
Amortizable intangible assets | $ 138 | $ 462 |
Less accumulated amortization | (77) | (394) |
Amortizable intangible assets, net | 61 | 68 |
Trademark | 389 | 389 |
Total other intangibles, net | 450 | 457 |
Goodwill | 5,198 | 5,198 |
Total goodwill and other intangibles, net | 5,648 | 5,655 |
Noncompete Agreements [Member] | ||
Amortizable intangible assets: | ||
Amortizable intangible assets | 353 | |
Noncompete Agreements [Member] | Minimum [Member] | ||
Amortizable intangible assets: | ||
Intangible assets useful life (Year) | 2 years | |
Noncompete Agreements [Member] | Maximum [Member] | ||
Amortizable intangible assets: | ||
Intangible assets useful life (Year) | 5 years | |
Other Intangible Assets [Member] | ||
Amortizable intangible assets: | ||
Amortizable intangible assets | $ 138 | $ 109 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Amortizable intangible assets: | ||
Intangible assets useful life (Year) | 182 days | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Amortizable intangible assets: | ||
Intangible assets useful life (Year) | 3 years |
Note 8 - Accrued Expenses - Com
Note 8 - Accrued Expenses - Composition of Accrued Expenses (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Payroll and employee-related expenses | $ 6,992 | $ 5,391 |
Accrued property, sales and use tax payable | 7,043 | 6,399 |
Accrued marketing expenses | 335 | 648 |
Deferred revenue related to gift card sales | 1,453 | 906 |
Other | 2,028 | 820 |
Total accrued expenses | $ 17,851 | $ 14,164 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) $ in Millions | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Capital and Financing Lease Obligations Number of Leases | 20 | 17 | |
Interest Expense, Debt, Excluding Amortization | $ 4.7 | $ 4.3 | $ 3.5 |
Interest Costs Capitalized | 0.2 | 0.5 | $ 0.5 |
Letter of Credit [Member] | |||
Letters of Credit Outstanding, Amount | 1 | 1 | |
The New Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 50 | ||
Line of Credit Facility, Dividend Restrictions, Maximum Amount | 10 | ||
Long-term Line of Credit, Total | 13.2 | 28.4 | |
Line of Credit Facility, Remaining Borrowing Capacity | 35.8 | $ 20.6 | |
The New Credit Facility [Member] | Standby Letters of Credit [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5 |
Note 10 - Lease Commitments (De
Note 10 - Lease Commitments (Details Textual) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Deferred Rent Credit, Noncurrent | $ 11,038 | $ 10,465 | |
Incentive from Lessor | 8,895 | 9,160 | |
Operating Leases, Income Statement, Sublease Revenue | 400 | 300 | $ 100 |
Operating Leases, Rent Expense, Net, Total | 48,800 | 43,800 | 34,600 |
Pre-Opening Costs and Relocation Expenses for Stores Not Yet Opened Rent Expense | 600 | 1,400 | $ 1,400 |
Capital Lease Finance Obligations | 32,500 | 26,900 | |
Capital Lease Obligations, Total | 4,800 | 5,000 | |
Build to Suit Lease in Process [Member] | |||
Construction in Progress, Gross | 2,400 | 1,500 | |
Assets Held under Capital Leases [Member] | |||
Construction in Progress, Gross | $ 1,500 | $ 0 | |
Chalet [Member] | |||
Number of Properties Leased | 5 | ||
Isely Family Land Trust LLC [Member] | |||
Number of Properties Leased | 1 | ||
FTVC, LLC [Member] | |||
Number of Properties Leased | 1 | ||
Related Parties [Member] | |||
Operating Leases Future Minimum Payments Due Per Lease Agreement Low End of Range | $ 100 | ||
Operating Leases Future Minimum Payments Due Per Lease Agreement High End of Range | $ 300 |
Note 10 - Lease Commitments - F
Note 10 - Lease Commitments - Future Minimum Annual Payments under Operating Leases (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Sublease rental income, 2019 | $ (415) |
Total operating leases, 2019 | 41,761 |
Sublease rental income, 2020 | (379) |
Total operating leases, 2020 | 41,928 |
Sublease rental income, 2021 | (366) |
Total operating leases, 2021 | 40,708 |
Sublease rental income, 2022 | (372) |
Total operating leases, 2022 | 39,894 |
Sublease rental income, 2023 | (361) |
Total operating leases, 2023 | 39,303 |
Sublease rental income, thereafter | (764) |
Total operating leases, thereafter | 292,943 |
Sublease rental income, total payments | (2,657) |
Total operating leases, total payments | 496,537 |
Related Parties [Member] | |
2,019 | 1,329 |
2,020 | 1,333 |
2,021 | 1,310 |
2,022 | 1,308 |
2,023 | 1,308 |
Thereafter | 3,979 |
Total payments | 10,567 |
Third Parties [Member] | |
2,019 | 40,847 |
2,020 | 40,974 |
2,021 | 39,764 |
2,022 | 38,958 |
2,023 | 38,356 |
Thereafter | 289,728 |
Total payments | $ 488,627 |
Note 10 - Lease Commitments - C
Note 10 - Lease Commitments - Capital and Financing Lease Obligations (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Capital lease finance obligations | $ 4,800 | $ 5,000 |
Total capital and financing lease obligations | 41,142 | 33,428 |
Less current portion | (736) | (548) |
Total capital and financing lease obligations, net of current portion | 40,406 | 32,880 |
Due in Monthly Installments Through Fiscal Year 2033 [Member] | ||
Capital lease finance obligations | 32,523 | 26,930 |
Asset not under Construction, Due in Monthly Installments Through Fiscal Year 2041 [Member] | ||
Capital lease finance obligations | 4,763 | 4,999 |
Asset under Construction Due in Monthly Installments Through Fiscal Year 2033 [Member] | ||
Capital lease finance obligations | 2,350 | 1,499 |
Asset under Construction Due in Monthly Installments Through Fiscal Year 2034 [Member] | ||
Capital lease finance obligations | $ 1,506 |
Note 10 - Lease Commitments - S
Note 10 - Lease Commitments - Schedule of Future Payments Under the Terms of the Leases (Details) (Assets Held Under Real Estate Leases for Build to Suit Stores (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital Lease Finance Obligations [Member] | |
2019, Interest expense on capital lease finance obligations | $ 3,503 |
2019, Principle payments on capital lease finance obligations | 417 |
2020, Interest expense on capital lease finance obligations | 3,461 |
2020, Principle payments on capital lease finance obligations | 461 |
2021, Interest expense on capital lease finance obligations | 3,412 |
2021, Principle payments on capital lease finance obligations | 542 |
2022, Interest expense on capital lease finance obligations | 3,354 |
2022, Principle payments on capital lease finance obligations | 625 |
2023, Interest expense on capital lease finance obligations | 3,286 |
2023, Principle payments on capital lease finance obligations | 750 |
2023, Interest expense on capital lease obligations | 353 |
2023, Principal payments on capital lease obligations | 398 |
2023, Future payments on capital lease finance and capital lease obligations | 4,787 |
Thereafter, Interest expense on capital lease finance obligations | 15,380 |
Thereafter, Principle payments on capital lease finance obligations | 6,504 |
Non-cash derecognition of capital lease finance obligations at end of lease term | 23,225 |
Non-cash derecognition of capital lease finance obligations at end of lease term | 23,225 |
Total future payments, interest expense on capital lease finance obligations | 32,396 |
Total future payments, future payments on capital lease finance and capital lease obligations | 73,550 |
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital Lease Obligations [Member] | |
2019, Interest expense on capital lease obligations | 481 |
2019, Principal payments on capital lease obligations | 261 |
2020, Interest expense on capital lease obligations | 453 |
2020, Principal payments on capital lease obligations | 288 |
2021, Interest expense on capital lease obligations | 423 |
2021, Principal payments on capital lease obligations | 319 |
2022, Interest expense on capital lease obligations | 390 |
2022, Principal payments on capital lease obligations | 352 |
Thereafter, Interest expense on capital lease obligations | 1,768 |
Thereafter, Principal payments on capital lease obligations | 3,144 |
Total future payments, principle payments on capital lease finance obligations | 32,524 |
Total future payments, interest expense on capital lease obligations | 3,868 |
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital and Financing Lease Obligations [Member] | |
2019, Future payments on capital lease finance and capital lease obligations | 4,662 |
2020, Future payments on capital lease finance and capital lease obligations | 4,663 |
2021, Future payments on capital lease finance and capital lease obligations | 4,696 |
2022, Future payments on capital lease finance and capital lease obligations | 4,721 |
Thereafter, Future payments on capital lease finance and capital lease obligations | 26,796 |
Total future payments, principal payments on capital lease obligations | $ 4,762 |
Note 10 - Lease Commitments -_2
Note 10 - Lease Commitments - Future Minimum Lease Payments for Stores Under Construction (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Asset under Construction, Capital Lease Finance Obligations [Member] | |
2019, Interest expense on capital lease finance obligations | $ 186 |
2019, Principle payments on capital lease finance obligations | 20 |
2019, Total future payments on capital lease obligations for assets under construction | 206 |
2020, Interest expense on capital lease finance obligations | 184 |
2020, Principle payments on capital lease finance obligations | 21 |
2020, Total future payments on capital lease obligations for assets under construction | 205 |
2021, Interest expense on capital lease finance obligations | 182 |
2021, Principle payments on capital lease finance obligations | 23 |
2021, Total future payments on capital lease obligations for assets under construction | 205 |
2022, Interest expense on capital lease finance obligations | 180 |
2022, Principle payments on capital lease finance obligations | 25 |
2022, Total future payments on capital lease obligations for assets under construction | 205 |
2023, Interest expense on capital lease finance obligations | 178 |
2023, Principle payments on capital lease finance obligations | 27 |
2023, Total future payments on capital lease obligations for assets under construction | 205 |
Thereafter, Interest expense on capital lease finance obligations | 1,514 |
Thereafter, Principle payments on capital lease finance obligations | 810 |
Thereafter, Total future payments on capital lease obligations for assets under construction | 2,324 |
Non-cash derecognition of capital lease finance obligations at end of lease term | 1,423 |
Total future payments, interest expense on capital lease finance obligations | 2,424 |
Total future payments, principle payments on capital lease finance obligations | 2,349 |
Total future payments of capital lease obligations for assets under construction | 4,773 |
Asset under Construction, Capital Lease Obligations [Member] | |
2019, Interest expense on capital lease finance obligations | 138 |
2019, Principle payments on capital lease finance obligations | 36 |
2019, Total future payments on capital lease obligations for assets under construction | 174 |
2020, Interest expense on capital lease finance obligations | 152 |
2020, Principle payments on capital lease finance obligations | 45 |
2020, Total future payments on capital lease obligations for assets under construction | 197 |
2021, Interest expense on capital lease finance obligations | 147 |
2021, Principle payments on capital lease finance obligations | 49 |
2021, Total future payments on capital lease obligations for assets under construction | 196 |
2022, Interest expense on capital lease finance obligations | 142 |
2022, Principle payments on capital lease finance obligations | 55 |
2022, Total future payments on capital lease obligations for assets under construction | 197 |
2023, Interest expense on capital lease finance obligations | 136 |
2023, Principle payments on capital lease finance obligations | 61 |
2023, Total future payments on capital lease obligations for assets under construction | 197 |
Thereafter, Interest expense on capital lease finance obligations | 813 |
Thereafter, Principle payments on capital lease finance obligations | 1,260 |
Thereafter, Total future payments on capital lease obligations for assets under construction | 2,073 |
Total future payments, interest expense on capital lease finance obligations | 1,528 |
Total future payments, principle payments on capital lease finance obligations | 1,506 |
Total future payments of capital lease obligations for assets under construction | $ 3,034 |
Note 11 - Share-based Compens_3
Note 11 - Share-based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | Jul. 17, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,090,151 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 186,179 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,300 | |||
Allocated Share-based Compensation Expense, Total | $ 800,000 | $ 800,000 | $ 900,000 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 0 | 0 | 0 | |
Certain Employees [Member] | ||||
Allocated Share-based Compensation Expense, Total | 500,000 | 600,000 | 700,000 | |
Executive Officer [Member] | ||||
Allocated Share-based Compensation Expense, Total | 100,000 | |||
Board [Member] | ||||
Allocated Share-based Compensation Expense, Total | 200,000 | $ 200,000 | $ 200,000 | |
Restricted Stock Units (RSUs) [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 3,100,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||
Restricted Stock Units (RSUs) [Member] | Board [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award Equivalent Value of Shares Authorized to Grant | $ 60,000 | |||
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years |
Note 11 - Share-based Compens_4
Note 11 - Share-based Compensation - Changes in Non-vested RSUs Outstanding (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Non-vested balance (in shares) | 70,346 | 92,586 |
Non-vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 21.56 | $ 24.52 |
Granted (in shares) | 396,949 | 16,662 |
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ 8.88 | $ 12.09 |
Forfeited (in shares) | (15,626) | (4,249) |
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ 12.01 | $ 27.28 |
Vested (in shares) | (32,687) | (34,653) |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 17.97 | $ 19.02 |
Non-vested balance (in shares) | 418,982 | 70,346 |
Non-vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 10.19 | $ 21.56 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | May 02, 2018 | May 04, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Stock Repurchase Program, Period in Force | 2 years | 2 years | ||
Stock Repurchase Program, Authorized Amount | $ 10,000 | |||
Stock Issued During Period, Shares, Treasury Stock Reissued for Equity-based Compensation Obligations | 26,899 | 25,447 | ||
Stock Issued During Period, Value, Treasury Stock Reissued for Equity-based Compensation Obligations | $ 200 | $ 300 | ||
Treasury Stock, Shares, Ending Balance | 136,897 | 62,223 | ||
Treasury Stock, Value, Ending Balance | $ 1,040 | $ 664 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Share Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Total number of common shares acquired (in shares) | 101,573 | 30,000 | |
Average price per common share acquired (including commissions) (in dollars per share) | $ 5.72 | $ 8.71 | |
Total cost of common shares acquired (in thousands) | $ 581 | $ 262 | $ 829 |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transactions (Details Textual) $ in Millions | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Chalet [Member] | |||
Number of Operating Leases | 5 | ||
Number of Capital Leases | 1 | ||
Related Party Transaction Number of Owners That Are Non-Independent Board Members of the Entity | 4 | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 1.2 | $ 1.2 | $ 1.2 |
Isely Family Land Trust LLC [Member] | |||
Number of Operating Leases | 1 | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 0.3 | 0.3 | 0.3 |
FTVC, LLC [Member] | |||
Number of Operating Leases | 1 | ||
Related Party Transaction Number of Owners That Are Non-Independent Board Members of the Entity | 4 | ||
FTVC, LLC [Member] | Maximum [Member] | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 0.1 | $ 0.1 | $ 0.1 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Effective Income Tax Rate Reconciliation, Percent, Total | (20.70%) | 33.10% | 33.90% |
State and Local Jurisdiction [Member] | Maximum [Member] | |||
Operating Loss Carryforwards Utilized | $ 0.1 | $ 0.1 |
Note 14 - Income Taxes - Compon
Note 14 - Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Current federal income tax expense (benefit) | $ 3,083 | $ 2,837 | $ (853) | ||||||||
Current state income tax expense (benefit) | 721 | 336 | (254) | ||||||||
Total current income tax expense (benefit) | 3,804 | 3,173 | (1,107) | ||||||||
Deferred federal income tax (benefit) expense | (5,760) | 206 | 6,103 | ||||||||
Deferred state income tax (benefit) expense | (212) | 35 | 868 | ||||||||
Total deferred income tax (benefit) expense | (5,972) | 241 | 6,971 | ||||||||
Total (benefit from) provision for income taxes | $ 192 | $ 597 | $ 1,120 | $ (4,077) | $ 448 | $ 204 | $ 1,640 | $ 1,122 | $ (2,168) | $ 3,414 | $ 5,864 |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation Between the U.S. Federal Statutory Income Tax Rate and the Company's Effective Tax Rate (Details) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statutory tax rate | 24.30% | 34.00% | 34.00% |
State income taxes, net of federal income tax expense | 3.30% | 2.70% | 2.90% |
Remeasurement | (41.30%) | ||
Enhanced food deduction | (1.80%) | (2.70%) | (1.60%) |
Deferred tax liability adjustment | (6.30%) | ||
Other, net | 1.10% | (0.90%) | (1.40%) |
Effective tax rate | (20.70%) | 33.10% | 33.90% |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Current assets | ||
Long-term liabilities | (6,447) | (12,419) |
Net deferred tax liabilities | $ (6,447) | $ (12,419) |
Note 14 - Income Taxes - Tax Ef
Note 14 - Income Taxes - Tax Effects of Temporary Differences That Give Rise to Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Capital and financing lease obligations | $ 10,022 | $ 12,670 |
Goodwill | 955 | 1,853 |
Leasehold incentives | 2,180 | 3,484 |
Deferred rent | 2,706 | 3,980 |
Trademarks | 658 | 1,021 |
Accrued employee benefits | 642 | 910 |
Deferred compensation | 169 | 468 |
Other | 339 | 439 |
Gross deferred tax assets | 17,671 | 24,825 |
Property and equipment | (21,489) | (33,127) |
Leasehold improvements | (2,407) | (3,774) |
Subleases | (214) | (343) |
Other | (8) | |
Gross deferred tax liabilities | (24,118) | (37,244) |
Net deferred tax liabilities | $ (6,447) | $ (12,419) |
Note 15 - Defined Contributio_2
Note 15 - Defined Contribution Plan (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% | |
Defined Contribution Plan Employer Maximum Discretionary Contribution Amount per Employee | $ 2,500 | |
Defined Contribution Plan, Cost | $ 600,000 | $ 100,000 |
Note 16 - Segment Reporting (De
Note 16 - Segment Reporting (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Sep. 30, 2018 | |
Number of Reportable Segments | 1 | 1 |
Note 16 - Segment Reporting - S
Note 16 - Segment Reporting - Sales from Natural and Organic Retail Stores (Details) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Sales percentage | 100.00% | 100.00% | 100.00% |
Grocery [Member] | |||
Sales percentage | 68.00% | 67.00% | 67.00% |
Dietary Supplements [Member] | |||
Sales percentage | 21.00% | 22.00% | 22.00% |
Body Care, Pet Care, and Other [Member] | |||
Sales percentage | 11.00% | 11.00% | 11.00% |
Note 18 - Selected Quarterly _3
Note 18 - Selected Quarterly Financial Data (Unaudited) - Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenues, Total | $ 217,521 | $ 213,130 | $ 215,911 | $ 202,480 | $ 198,541 | $ 194,709 | $ 192,203 | $ 183,577 | $ 849,042 | $ 769,030 | $ 705,499 |
Cost of goods sold and occupancy costs | 160,219 | 156,299 | 157,630 | 149,321 | 145,297 | 141,928 | 138,045 | 131,424 | 623,469 | 556,694 | 503,727 |
Gross profit | 57,302 | 56,831 | 58,281 | 53,159 | 53,244 | 52,781 | 54,158 | 52,153 | 225,573 | 212,336 | 201,772 |
Store expenses | 48,095 | 47,000 | 46,480 | 45,166 | 45,079 | 45,028 | 42,400 | 41,843 | 186,741 | 174,350 | 156,158 |
Administrative expenses | 5,161 | 5,630 | 5,458 | 5,257 | 5,142 | 5,105 | 4,959 | 4,883 | 21,506 | 20,089 | 19,242 |
Pre-opening and relocation expenses | 590 | 443 | 697 | 543 | 284 | 970 | 1,284 | 1,261 | 2,273 | 3,799 | 5,993 |
Operating income | 3,456 | 3,758 | 5,646 | 2,193 | 2,739 | 1,678 | 5,515 | 4,166 | 15,053 | 14,098 | 20,379 |
Interest expense, net | (1,179) | (1,170) | (1,122) | (1,089) | (1,055) | (876) | (879) | (983) | (4,560) | (3,793) | (3,044) |
Income before income taxes | 2,277 | 2,588 | 4,524 | 1,104 | 1,684 | 802 | 4,636 | 3,183 | 10,493 | 10,305 | 17,335 |
Benefit from (provision for) income taxes | (192) | (597) | (1,120) | 4,077 | (448) | (204) | (1,640) | (1,122) | 2,168 | (3,414) | (5,864) |
Net income | $ 2,085 | $ 1,991 | $ 3,404 | $ 5,181 | $ 1,236 | $ 598 | $ 2,996 | $ 2,061 | $ 12,661 | $ 6,891 | $ 11,471 |
Basic earnings per share (in dollars per share) | $ 0.10 | $ 0.09 | $ 0.15 | $ 0.23 | $ 0.06 | $ 0.03 | $ 0.13 | $ 0.09 | $ 0.57 | $ 0.31 | $ 0.51 |
Diluted earnings per share (in dollars per share) | $ 0.09 | $ 0.09 | $ 0.15 | $ 0.23 | $ 0.06 | $ 0.03 | $ 0.13 | $ 0.09 | $ 0.56 | $ 0.31 | $ 0.51 |
Provision for income taxes | $ (192) | $ (597) | $ (1,120) | $ 4,077 | $ (448) | $ (204) | $ (1,640) | $ (1,122) | $ 2,168 | $ (3,414) | $ (5,864) |