Natural Grocers by Vitamin Cottage (NGVC) 10-Q 2 May 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2019	Apr. 29, 2019
Document Information [Line Items]
Entity Registrant Name	Natural Grocers by Vitamin Cottage, Inc.
Entity Central Index Key	0001547459
Trading Symbol	ngvc
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		22,438,589
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 11,283	$ 9,398
Accounts receivable, net	4,501	4,738
Merchandise inventory	95,335	94,228
Prepaid expenses and other current assets	2,544	2,590
Total current assets	113,663	110,954
Property and equipment, net	191,439	188,768
Other assets:
Deposits and other assets	1,671	1,682
Goodwill and other intangible assets, net	6,464	5,648
Deferred financing costs, net	24	31
Total other assets	8,159	7,361
Total assets	313,261	307,083
Current liabilities:
Accounts payable	61,547	61,104
Accrued expenses	17,325	17,851
Capital and financing lease obligations, current portion	843	736
Total current liabilities	79,715	79,691
Long-term liabilities:
Capital and financing lease obligations, net of current portion	44,780	40,406
Revolving credit facility	10,192	13,192
Deferred income tax liabilities, net	5,901	6,447
Deferred compensation		688
Deferred rent	11,175	11,038
Leasehold incentives	8,317	8,895
Total long-term liabilities	80,365	80,666
Total liabilities	160,080	160,357
Commitments (Notes 7 and 13)
Stockholders’ equity:
Common stock, $0.001 par value, 50,000,000 shares authorized, 22,510,279 shares issued at March 31, 2019 and September 30, 2018 and 22,431,553 and 22,373,382 outstanding at March 31, 2019 and September 30, 2018, respectively	23	23
Additional paid-in capital	56,192	56,236
Retained earnings	97,564	91,507
Common stock in treasury at cost, 78,726 and 136,897 shares, at March 31, 2019 and September 30, 2018, respectively	(598)	(1,040)
Total stockholders’ equity	153,181	146,726
Total liabilities and stockholders’ equity	$ 313,261	$ 307,083

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2019	Sep. 30, 2018
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)	22,431,553	22,373,382
Treasury stock, shares (in shares)	78,726	136,897

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 230,447	$ 215,911	$ 451,962	$ 418,391
Cost of goods sold and occupancy costs	168,233	157,630	330,602	306,951
Gross profit	62,214	58,281	121,360	111,440
Store expenses	50,175	46,480	99,298	91,646
Administrative expenses	5,761	5,458	11,076	10,715
Pre-opening and relocation expenses	157	697	829	1,240
Operating income	6,121	5,646	10,157	7,839
Interest expense, net	(1,280)	(1,122)	(2,535)	(2,211)
Income before income taxes	4,841	4,524	7,622	5,628
(Provision for) benefit from income taxes	(981)	(1,120)	(1,565)	2,957
Net income	$ 3,860	$ 3,404	$ 6,057	$ 8,585
Net income per common share:
Basic (in dollars per share)	$ 0.17	$ 0.15	$ 0.27	$ 0.38
Diluted (in dollars per share)	$ 0.17	$ 0.15	$ 0.27	$ 0.38
Weighted average number of shares of common stock outstanding:
Basic (in shares)	22,413,055	22,353,993	22,399,665	22,356,943
Diluted (in shares)	22,561,825	22,444,808	22,579,733	22,419,056

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income		$ 6,057	$ 8,585
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense		14,576	14,825
Gain on disposal of property and equipment		(165)	(28)
Share-based compensation		663	362
Deferred income tax benefit		(546)	(4,171)
Non-cash interest expense		6	6
Changes in operating assets and liabilities
Accounts receivable, net		254	(832)
Merchandise inventory		(1,107)	(3,261)
Prepaid expenses and other assets(1)	[1]	97	(635)
Income tax receivable(1)	[1]	(65)	1,082
Accounts payable		4,469	4,181
Accrued expenses		(517)	1,276
Deferred compensation		(688)	(566)
Deferred rent and leasehold incentives		(441)	914
Net cash provided by operating activities		22,593	21,738
Investing activities:
Acquisition of property and equipment(1)	[1]	(17,644)	(10,530)
Acquisition of other intangibles(1)	[1]	(251)	(29)
Proceeds from sale of property and equipment		792	34
Proceeds from property insurance settlements		22
Net cash used in investing activities		(17,081)	(10,525)
Financing activities:
Borrowings under credit facility		185,200	176,000
Repayments under credit facility		(188,200)	(184,800)
Capital and financing lease obligations payments		(362)	(271)
Repurchases of common stock			(581)
Payments on withholding tax for restricted stock unit vesting		(265)	(11)
Net cash used in financing activities		(3,627)	(9,663)
Net increase in cash and cash equivalents		1,885	1,550
Cash and cash equivalents, beginning of period		9,398	6,521
Cash and cash equivalents, end of period		11,283	8,071
Supplemental disclosures of cash flow information:
Cash paid for interest		439	431
Cash paid for interest on capital and financing lease obligations, net of capitalized interest of $59 and $49, respectively		2,087	1,748
Income taxes paid		2,962	90
Deferred compensation paid		700	700
Supplemental disclosures of non-cash investing and financing activities:
Acquisition of property and equipment not yet paid		1,228	2,377
Property acquired through capital and financing lease obligations		$ 4,842	$ 4,428
[1]	Certain prior year amounts have been separated for consistency with current year presentation.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Capitalized interest	$ 59	$ 25

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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, 2017	22,448,056
Balance at Sep. 30, 2017		$ 23	$ 55,678	$ 78,846	$ (664)	$ 133,883
Net income				5,181		5,181
Share-based compensation (in shares)	1,226
Share-based compensation			147		9	156
Repurchase of common stock (in shares)	(101,573)
Repurchase of common stock					(581)	(581)
Balance (in shares) at Dec. 31, 2017	22,347,709
Balance at Dec. 31, 2017		23	55,825	84,027	(1,236)	138,639
Balance (in shares) at Sep. 30, 2017	22,448,056
Balance at Sep. 30, 2017		23	55,678	78,846	(664)	133,883
Net income						8,585
Repurchase of common stock (in shares)	(101,573)
Balance (in shares) at Mar. 31, 2018	22,364,280
Balance at Mar. 31, 2018		23	55,894	87,431	(1,109)	142,239
Balance (in shares) at Dec. 31, 2017	22,347,709
Balance at Dec. 31, 2017		23	55,825	84,027	(1,236)	138,639
Net income				3,404		3,404
Share-based compensation (in shares)	16,571
Share-based compensation			69		127	196
Repurchase of common stock (in shares)
Repurchase of common stock
Balance (in shares) at Mar. 31, 2018	22,364,280
Balance at Mar. 31, 2018		23	55,894	87,431	(1,109)	142,239
Balance (in shares) at Sep. 30, 2018	22,373,382
Balance at Sep. 30, 2018		23	56,236	91,507	(1,040)	146,726
Net income				2,197		2,197
Share-based compensation (in shares)	18,928
Share-based compensation			101		144	245
Balance (in shares) at Dec. 31, 2018	22,392,310
Balance at Dec. 31, 2018		23	56,337	93,704	(896)	149,168
Balance (in shares) at Sep. 30, 2018	22,373,382
Balance at Sep. 30, 2018		23	56,236	91,507	(1,040)	146,726
Net income						$ 6,057
Repurchase of common stock (in shares)						0
Balance (in shares) at Mar. 31, 2019	22,431,553
Balance at Mar. 31, 2019		23	56,192	97,564	(598)	$ 153,181
Balance (in shares) at Dec. 31, 2018	22,392,310
Balance at Dec. 31, 2018		23	56,337	93,704	(896)	149,168
Net income				3,860		3,860
Share-based compensation (in shares)	39,243
Share-based compensation			(145)		298	153
Balance (in shares) at Mar. 31, 2019	22,431,553
Balance at Mar. 31, 2019		$ 23	$ 56,192	$ 97,564	$ (598)	$ 153,181

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Nature of Operations [Text Block]	1. Organization 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 March 31, 2019, 152 19 148 19 September 30, 2018.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Consolidated Financial Statements The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial statements and are in the form prescribed by Article 10 X. not 10 7 10 not September 30. The accompanying unaudited 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 The Company has one three six March 31, 2019 2018, Three months ended March 31, Six months ended March 31, 2019 2018 2019 2018 Grocery 68 % 67 68 67 Dietary supplements 22 23 21 22 Other 10 10 11 11 100 % 100 100 100 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including the fair value of assets acquired and liabilities assumed in a business combination), 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: allowances for self-insurance reserves; valuation of inventories; useful lives of property and equipment for depreciation and amortization; impairment of finite-lived intangible assets, long-lived assets, and goodwill; lease assumptions; and litigation based on currently available information. Changes in facts and circumstances may U.S. Tax Reform On December 22, 2017, January 1, 2018. 21.0% September 30, 2019. 24.3% September 30, 2018. $4.3 six March 31, 2018 September 30, 2018. Recently Adopted Accounting Pronouncements In May 2014, 2014 09, 606, 2014 09 2014 09 2014 09’s October 1, 2018, - ASU 2016 09, one - ASU 2016 12, - ASU 2016 20, not one Updated accounting policies and other disclosures are discussed below in Recent Accounting Pronouncements 2. 2014 09 not three six March 31, 2019. Recent Accounting Pronouncements 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 June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, not

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Revenue Recognition The nature of the goods the Company transfers to customers at the point of sale consists of merchandise purchased for resale. In these transactions, the Company acts as a principal and recognizes revenue (“net sales”) from the sale of goods when control of the promised goods is transferred to the customer. Control refers to the ability of the customer to direct the use of, and obtain substantially all the remaining benefits from, the transferred goods. The Company’s performance obligations are satisfied upon the transfer of goods to the customer (at the point of sale), and payment from the customer is also due at that time. Transaction prices are considered fixed. Discounts provided to customers at the point of sale are recognized as a reduction in revenue as the goods are sold. Revenue excludes sales and usage-based taxes collected. Proceeds from the sale of gift cards are recorded as a liability at the time of sale and recognized as revenue when the gift cards are redeemed by the customer and the performance obligation is satisfied by the Company. The Company also recognizes revenue for a portion of gift card values that is not not As of each of March 31, 2019 September 30, 2018, $1.0 three March 31, 2019 $0.2 September 30, 2018. six March 31, 2019 $0.5 September 30, 2018. The following table disaggregates our revenue by product category for the three six March 31, 2019 2018, Three months ended March 31, Six months ended March 31, 2019 2018 2019 2018 Grocery $ 157,802 144,467 309,103 280,568 Dietary supplements 49,700 48,830 95,484 92,395 Other 22,945 22,614 47,375 45,428 $ 230,447 215,911 451,962 418,391

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	4 . Earnings Per Share Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if the Company’s granted but unvested restricted stock units (RSUs) were to vest, resulting in the issuance of common stock that would then share in the Company’s earnings. Presented below are basic and diluted EPS for the three six March 31, 2019 2018, Three months ended Six months ended 201 9 201 8 201 9 201 8 Net income $ 3,860 3,404 6,057 8,585 Weighted average number of shares of common stock outstanding 22,413,055 22,353,993 22,399,665 22,356,943 Effect of dilutive securities 148,770 90,815 180,068 62,113 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,561,825 22,444,808 22,579,733 22,419,056 Basic earnings per share $ 0.17 0.15 0.27 0.38 Diluted earnings per share $ 0.17 0.15 0.27 0.38 There were 72,599 27,574 three six March 31, 2019, 75,169 172,356 three six March 31, 2018, The Company did not three six March 31, 2019 2018.

Note 5 - Debt

Note 5 - Debt	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt and Capital Leases Disclosures [Text Block]	5 . 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 $10.2 $13.2 March 31, 2019 September 30, 2018, March 31, 2019 September 30, 2018, $1.0 $38.8 $35.8 March 31, 2019 September 30, 2018, As of March 31, 2019 September 30, 2018, Capital and Financing Lease Obligations The Company had 21 20 March 31, 2019 September 30, 2018, 7 No Interest The Company incurred gross interest expense of approximately $1.3 $1.1 three March 31, 2019 2018, $2.6 $2.3 six March 31, 2019 2018, three six March 31, 2019 2018 $ 0.1 three March 31, 2019 2018, $0.1 $0.1 six March 31, 2019 2018,

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6 . S tock holders’ Equity Share Repurchases On May 4, 2016, two may $10.0 May 2, 2018, two May 4, 2020. 10b 18 1934, may 10b5 1 not may Prior to October 1, 2018, 199,543 not six March 31, 2019. six March 31, 2018, 101,573 may $8.3 Prior to October 1, 2018, 62,646 $0.6 three six March 31, 2019, 39,243 $0.3 58,171 $0.4 three six March 31, 2018, 16,571 17,797 $ 0.1 March 31, 2019 September 30, 2018, 78,726 136,897 $0.6 $1.0

Note 7 - Lease Commitments

Note 7 - Lease Commitments	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	7 . Lease Commitments Capital and financing lease obligations as of March 31, 2019 September 30, 2018, As of March 31 , 201 9 September 30, 201 8 Capital lease finance obligations, due in monthly installments through fiscal year 2033 $ 34,992 32,523 Capital lease obligations, due in monthly installments through fiscal year 2041 6,126 4,763 Capital lease finance obligations for assets under construction, due in monthly installments through fiscal year 2034 4,505 2,350 Capital lease obligations for assets under construction, due in monthly installments through fiscal year 2034 — 1,506 Total capital and financing lease obligations 45,623 41,142 Less current portion (843 ) (736 ) Total capital and financing lease obligations, net of current portion $ 44,780 40,406

Note 8 - Property and Equipment

Note 8 - Property and Equipment	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	8 . Property and Equipment The Company had the following property and equipment balances as of March 31, 2019 September 30, 2018, As of Useful lives (in years) March 31 , 201 9 September 30, 201 8 Construction in process n/a $ 7,986 15,879 Capitalized real estate leases for build-to-suit stores, including unamortized land of $617 and $617, respectively 40 37,970 35,700 Capitalized real estate leases 15 7,241 5,735 Land n/a 1,230 192 Buildings 40 23,481 19,262 Land improvements 5 – 24 1,335 1,016 Leasehold and building improvements 1 – 25 139,312 131,474 Fixtures and equipment 5 – 7 128,610 122,984 Computer hardware and software 3 – 5 20,401 21,181 367,566 353,423 Less accumulated depreciation and amortization (176,127 ) (164,655 ) Property and equipment, net $ 191,439 188,768 Capitalized real estate leases for build-to-suit stores includes the assets for the Company’s buildings under capital lease finance obligations, and capitalized real estate leases includes assets for the Company’s buildings under capital lease obligations (see Note 7 Depreciation and amortization expense for the three six March 31, 2019 2018 Three months ended Six months ended 2019 2018 2019 2018 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 185 196 367 392 Depreciation and amortization expense included in store expenses 6,848 6,835 13,690 13,685 Depreciation and amortization expense included in administrative expenses 257 379 519 748 Total depreciation and amortization expense $ 7,290 7,410 14,576 14,825

Note 9 - Goodwill and Other Int

Note 9 - Goodwill and Other Intangible Assets	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	9 . Goodwill and Other Intangible Assets The Company had the following goodwill and other intangible asset balances as of March 31, 2019 September 30, 2018, Useful lives As of (in years) March 31 , 201 9 September 30, 2018 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 2,197 138 Amortizable intangible assets 2,197 138 Less accumulated amortization (1,320 ) (77 ) Amortizable intangible assets, net 877 61 Trademark Indefinite 389 389 Total other intangibles, net 1,266 450 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 6,464 5,648

Note 10 - Accrued Expenses

Note 10 - Accrued Expenses	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	10 . Accrued Expenses The composition of accrued expenses as of March 31, 2019 September 30, 2018 As of March 31 , September 30, 201 9 201 8 Accrued property, sales and use tax payable $ 6,361 7,043 Income tax payable 102 903 Payroll and employee-related expenses 7,683 6,992 Accrued marketing expenses 591 335 Deferred revenue related to gift card sales 1,361 1,453 Other 1,227 1,125 Total accrued expenses $ 17,325 17,851

Note 11 - Income Taxes

Note 11 - Income Taxes	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 1 . Income Taxes Income taxes are accounted for in accordance with the provisions of ASC 740. Remeasurement of the Company’s deferred tax balance as a result of the Tax Reform Act resulted in a non-cash tax benefit of approximately $4.3 six March 31, 2018.

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 2 . Related Party Transactions The Company has ongoing relationships with related entities as noted below: Chalet Properties, LLC: five one four $ 0.3 three March 31, 2019 2018. $0.6 six March 31, 2019 2018. Isely Family Land Trust LLC: one $0.1 three March 31, 2019 2018. $ 0.2 six March 31, 2019 2018. FTVC LLC: one four $0.1 three March 31, 2019 2018. $0.1 six March 31, 2019 2018.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	6 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 3 . Commitments and Contingencies The Company is periodically involved in various legal proceedings that are incidental to the conduct of its business, including but not may not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidated Financial Statements The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial statements and are in the form prescribed by Article 10 X. not 10 7 10 not September 30. The accompanying unaudited 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 The Company has one three six March 31, 2019 2018, Three months ended March 31, Six months ended March 31, 2019 2018 2019 2018 Grocery 68 % 67 68 67 Dietary supplements 22 23 21 22 Other 10 10 11 11 100 % 100 100 100
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (including the fair value of assets acquired and liabilities assumed in a business combination), 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: allowances for self-insurance reserves; valuation of inventories; useful lives of property and equipment for depreciation and amortization; impairment of finite-lived intangible assets, long-lived assets, and goodwill; lease assumptions; and litigation based on currently available information. Changes in facts and circumstances may
Income Tax, Policy [Policy Text Block]	U.S. Tax Reform On December 22, 2017, January 1, 2018. 21.0% September 30, 2019. 24.3% September 30, 2018. $4.3 six March 31, 2018 September 30, 2018.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In May 2014, 2014 09, 606, 2014 09 2014 09 2014 09’s October 1, 2018, - ASU 2016 09, one - ASU 2016 12, - ASU 2016 20, not one Updated accounting policies and other disclosures are discussed below in Recent Accounting Pronouncements 2. 2014 09 not three six March 31, 2019. Recent Accounting Pronouncements 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 June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, not

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Product Information [Table Text Block]	Three months ended March 31, Six months ended March 31, 2019 2018 2019 2018 Grocery 68 % 67 68 67 Dietary supplements 22 23 21 22 Other 10 10 11 11 100 % 100 100 100

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, Six months ended March 31, 2019 2018 2019 2018 Grocery $ 157,802 144,467 309,103 280,568 Dietary supplements 49,700 48,830 95,484 92,395 Other 22,945 22,614 47,375 45,428 $ 230,447 215,911 451,962 418,391

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Six months ended 201 9 201 8 201 9 201 8 Net income $ 3,860 3,404 6,057 8,585 Weighted average number of shares of common stock outstanding 22,413,055 22,353,993 22,399,665 22,356,943 Effect of dilutive securities 148,770 90,815 180,068 62,113 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,561,825 22,444,808 22,579,733 22,419,056 Basic earnings per share $ 0.17 0.15 0.27 0.38 Diluted earnings per share $ 0.17 0.15 0.27 0.38

Note 7 - Lease Commitments (Tab

Note 7 - Lease Commitments (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	As of March 31 , 201 9 September 30, 201 8 Capital lease finance obligations, due in monthly installments through fiscal year 2033 $ 34,992 32,523 Capital lease obligations, due in monthly installments through fiscal year 2041 6,126 4,763 Capital lease finance obligations for assets under construction, due in monthly installments through fiscal year 2034 4,505 2,350 Capital lease obligations for assets under construction, due in monthly installments through fiscal year 2034 — 1,506 Total capital and financing lease obligations 45,623 41,142 Less current portion (843 ) (736 ) Total capital and financing lease obligations, net of current portion $ 44,780 40,406

Note 8 - Property and Equipme_2

Note 8 - Property and Equipment (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of Useful lives (in years) March 31 , 201 9 September 30, 201 8 Construction in process n/a $ 7,986 15,879 Capitalized real estate leases for build-to-suit stores, including unamortized land of $617 and $617, respectively 40 37,970 35,700 Capitalized real estate leases 15 7,241 5,735 Land n/a 1,230 192 Buildings 40 23,481 19,262 Land improvements 5 – 24 1,335 1,016 Leasehold and building improvements 1 – 25 139,312 131,474 Fixtures and equipment 5 – 7 128,610 122,984 Computer hardware and software 3 – 5 20,401 21,181 367,566 353,423 Less accumulated depreciation and amortization (176,127 ) (164,655 ) Property and equipment, net $ 191,439 188,768
Depreciation and Amortization Expense [Table Text Block]	Three months ended Six months ended 2019 2018 2019 2018 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 185 196 367 392 Depreciation and amortization expense included in store expenses 6,848 6,835 13,690 13,685 Depreciation and amortization expense included in administrative expenses 257 379 519 748 Total depreciation and amortization expense $ 7,290 7,410 14,576 14,825

Note 9 - Goodwill and Other I_2

Note 9 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Useful lives As of (in years) March 31 , 201 9 September 30, 2018 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 2,197 138 Amortizable intangible assets 2,197 138 Less accumulated amortization (1,320 ) (77 ) Amortizable intangible assets, net 877 61 Trademark Indefinite 389 389 Total other intangibles, net 1,266 450 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 6,464 5,648

Note 10 - Accrued Expenses (Tab

Note 10 - Accrued Expenses (Tables)	6 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of March 31 , September 30, 201 9 201 8 Accrued property, sales and use tax payable $ 6,361 7,043 Income tax payable 102 903 Payroll and employee-related expenses 7,683 6,992 Accrued marketing expenses 591 335 Deferred revenue related to gift card sales 1,361 1,453 Other 1,227 1,125 Total accrued expenses $ 17,325 17,851

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Mar. 31, 2019	Sep. 30, 2018
Number of Stores	152	148
Number of States in which Entity Operates	19	19

Note 2 - Basis of Presentatio_3

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Millions	6 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018USD ($)	Sep. 30, 2019	Sep. 30, 2018USD ($)
Number of Reportable Segments	1
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				24.30%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ (4.3)		$ (4.3)
Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%

Note 2 - Basis of Presentatio_4

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies - Sales From Natural and Organic Retail Stores (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Sales percentage	100.00%	100.00%	100.00%	100.00%
Grocery [Member]
Sales percentage	68.00%	67.00%	68.00%	67.00%
Dietary Supplements [Member]
Sales percentage	22.00%	23.00%	21.00%	22.00%
Other [Member]
Sales percentage	10.00%	10.00%	11.00%	11.00%

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - Gift Cards [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Sep. 30, 2018
Contract with Customer, Liability, Total	$ 1	$ 1	$ 1
Contract with Customer, Liability, Revenue Recognized	$ 0.2	$ 0.5

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 230,447	$ 215,911	$ 451,962	$ 418,391
Grocery [Member]
Net sales	157,802	144,467	309,103	280,568
Dietary Supplements [Member]
Net sales	49,700	48,830	95,484	92,395
Manufactured Product, Other [Member]
Net sales	$ 22,945	$ 22,614	$ 47,375	$ 45,428

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Dividends, Total	$ 0	$ 0	$ 0	$ 0
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	72,599	75,169	27,574	172,356

Note 4 - Earnings Per Share - B

Note 4 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 3,860	$ 3,404	$ 6,057	$ 8,585
Weighted average number of shares of common stock outstanding (in shares)	22,413,055	22,353,993	22,399,665	22,356,943
Effect of dilutive securities (in shares)	148,770	90,815	180,068	62,113
Weighted average number of shares of common stock outstanding including effect of dilutive securities (in shares)	22,561,825	22,444,808	22,579,733	22,419,056
Basic earnings per share (in dollars per share)	$ 0.17	$ 0.15	$ 0.27	$ 0.38
Diluted earnings per share (in dollars per share)	$ 0.17	$ 0.15	$ 0.27	$ 0.38

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jan. 28, 2016USD ($)
Capital and Financing Lease Obligations Number of Leases	21		21		20
Interest Expense, Debt, Excluding Amortization	$ 1.3	$ 1.1	$ 2.6	$ 2.3
Interest Costs Capitalized	0.1	$ 0.1	0.1	$ 0.1
Letter of Credit [Member]
Letters of Credit Outstanding, Amount	1		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	10.2		10.2		13.2
Line of Credit Facility, Remaining Borrowing Capacity	$ 38.8		$ 38.8		$ 35.8
The New Credit Facility [Member] | Standby Letters of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 5

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands	May 02, 2018	May 04, 2016	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2018
Stock Repurchase Program, Period in Force	2 years	2 years
Stock Repurchase Program, Authorized Amount		$ 10,000
Treasury Stock, Shares, Acquired						0			199,543
Stock Repurchase Program, Remaining Authorized Repurchase Amount			$ 8,300			$ 8,300
Stock Issued During Period, Shares, Treasury Stock Reissued for Equity-based Compensation Obligations			39,243	16,571		58,171	17,797	62,646
Stock Issued During Period, Value, Treasury Stock Reissued for Equity-based Compensation Obligations			$ 300	$ 100		$ 400	$ 100	$ 600
Treasury Stock, Shares, Ending Balance			78,726			78,726		136,897	136,897
Treasury Stock, Value, Ending Balance			$ 598			$ 598		$ 1,040	$ 1,040
Common Stock Outstanding [Member]
Treasury Stock, Shares, Acquired					101,573		101,573

Note 7 - Lease Commitments - Ca

Note 7 - Lease Commitments - Capital and Financing Lease Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Total capital and financing lease obligations	$ 45,623	$ 41,142
Less current portion	(843)	(736)
Total capital and financing lease obligations, net of current portion	44,780	40,406
Due in Monthly Installments Through Fiscal Year 2033 [Member]
Capital lease finance obligations	34,992	32,523
Asset not under Construction, Due in Monthly Installments Through Fiscal Year 2041 [Member]
Capital lease finance obligations	6,126	4,763
Asset under Construction Due in Monthly Installments Through Fiscal Year 2033 [Member]
Capital lease finance obligations	4,505	2,350
Asset under Construction Due in Monthly Installments Through Fiscal Year 2034 [Member]
Capital lease finance obligations		$ 1,506

Note 8 - Property and Equipme_3

Note 8 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
Property, plant, and equipment, gross	$ 367,566	$ 353,423
Less accumulated depreciation and amortization	(176,127)	(164,655)
Property and equipment, net	191,439	188,768
Construction in Progress [Member]
Property, plant, and equipment, gross	7,986	15,879
Assets Held Under Real Estate Leases for Build to Suit Stores [Member]
Property, plant, and equipment, gross	$ 37,970	35,700
Useful life (Year)	40 years
Assets Held under Capital Leases [Member]
Property, plant, and equipment, gross	$ 7,241	5,735
Useful life (Year)	15 years
Land [Member]
Property, plant, and equipment, gross	$ 1,230	192
Building [Member]
Property, plant, and equipment, gross	$ 23,481	19,262
Useful life (Year)	40 years
Land Improvements [Member]
Property, plant, and equipment, gross	$ 1,335	1,016
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	$ 139,312	131,474
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	$ 128,610	122,984
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	$ 20,401	$ 21,181
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 8 - Property and Equipme_4

Note 8 - Property and Equipment - Schedule of Property and Equipment (Details) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Property, plant, and equipment, gross	$ 367,566	$ 353,423
Unamortized Land [Member]
Property, plant, and equipment, gross	$ 617	$ 617

Note 8 - Property and Equipme_5

Note 8 - Property and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Depreciation and amortization expense	$ 7,290	$ 7,410	$ 14,576	$ 14,825
Cost of Sales [Member]
Depreciation and amortization expense	185	196	367	392
Stores [Member]
Depreciation and amortization expense	6,848	6,835	13,690	13,685
General and Administrative Expense [Member]
Depreciation and amortization expense	$ 257	$ 379	$ 519	$ 748

Note 9 - Goodwill and Other I_3

Note 9 - Goodwill and Other Intangible Assets - Summary of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
Amortizable intangible assets	$ 2,197	$ 138
Less accumulated amortization	(1,320)	(77)
Amortizable intangible assets, net	877	61
Trademark	389	389
Total other intangibles, net	1,266	450
Goodwill	5,198	5,198
Total goodwill and other intangibles, net	6,464	5,648
Other Intangible Assets [Member]
Amortizable intangible assets	$ 2,197	$ 138
Other Intangible Assets [Member] | Minimum [Member]
Intangible assets useful life (Year)	182 days
Other Intangible Assets [Member] | Maximum [Member]
Intangible assets useful life (Year)	3 years

Note 10 - Accrued Expenses - Co

Note 10 - Accrued Expenses - Composition of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Accrued property, sales and use tax payable	$ 6,361	$ 7,043
Income tax payable	102	903
Payroll and employee-related expenses	7,683	6,992
Accrued marketing expenses	591	335
Deferred revenue related to gift card sales	1,361	1,453
Other	1,227	1,125
Total accrued expenses	$ 17,325	$ 17,851

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Mar. 31, 2018	Sep. 30, 2018
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ (4.3)	$ (4.3)

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Chalet [Member]
Number of Operating Leases	5		5
Number of Capital Leases	1		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	$ 0.3	$ 0.3	$ 0.6	$ 0.6
Isely Family Land Trust LLC [Member]
Number of Operating Leases	1		1
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.1	0.1	$ 0.2	0.2
FTVC, LLC [Member]
Number of Operating Leases	1		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	$ 0.1