Natural Grocers by Vitamin Cottage (NGVC) 10-Q 6 Feb 20 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2019	Feb. 04, 2020
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)		22,489,902
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.001 par value
Entity Interactive Data Current	Yes

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 5,157	$ 6,214
Accounts receivable, net	4,681	5,059
Merchandise inventory	98,145	96,179
Prepaid expenses and other current assets	8,071	7,728
Total current assets	116,054	115,180
Property and equipment, net	155,619	201,635
Operating lease assets	355,167
Finance lease assets	32,308
Deposits and other assets	668	1,638
Goodwill and other intangible assets, net	9,476	8,644
Deferred financing costs, net	40	17
Total assets	669,332	327,114
Current liabilities:
Accounts payable	62,220	63,162
Accrued expenses	22,032	19,061
Capital and financing lease obligations, current portion		1,045
Operating lease obligations, current portion	31,419
Finance lease obligations, current portion	2,374
Total current liabilities	118,045	83,268
Long-term liabilities:
Capital and financing lease obligations, net of current portion		51,475
Operating lease obligations, net of current portion	341,715
Finance lease obligations, net of current portion	31,078
Revolving credit facility	8,292	5,692
Deferred income tax liabilities, net	11,110	10,420
Deferred rent		11,393
Leasehold incentives		7,960
Total long-term liabilities	392,195	86,940
Total liabilities	510,240	170,208
Commitments (Note 13)
Stockholders’ equity:
Common stock, $0.001 par value, 50,000,000 shares authorized, 22,510,279 shares issued at December 31, 2019 and September 30, 2019 and 22,475,718 and 22,463,057 outstanding at December 31, 2019 and September 30, 2019, respectively	23	23
Additional paid-in capital	56,454	56,319
Retained earnings	102,878	100,923
Common stock in treasury at cost, 34,561 and 47,222 shares, at December 31, 2019 and September 30, 2019, respectively	(263)	(359)
Total stockholders’ equity	159,092	156,906
Total liabilities and stockholders’ equity	$ 669,332	$ 327,114

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2019	Sep. 30, 2019
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)	22,475,718	22,463,057
Treasury stock, shares (in shares)	34,561	47,222

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net Sales	$ 230,030	$ 221,515
Cost of goods sold and occupancy costs	169,506	162,369
Gross profit	60,524	59,146
Store expenses	51,427	49,123
Administrative expenses	5,819	5,315
Pre-opening and relocation expenses	430	672
Operating income	2,848	4,036
Interest expense, net	(536)	(1,255)
Income before income taxes	2,312	2,781
Provision for income taxes	(444)	(584)
Net income	$ 1,868	$ 2,197
Net income per common share:
Basic (in dollars per share)	$ 0.08	$ 0.10
Diluted (in dollars per share)	$ 0.08	$ 0.10
Weighted average number of shares of common stock outstanding:
Basic (in shares)	22,471,350	22,386,566
Diluted (in shares)	22,542,967	22,595,961

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income	$ 1,868	$ 2,197
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,707	7,286
Loss on disposal of property and equipment	1	41
Share-based compensation	279	399
Deferred income tax expense (benefit)	424	(264)
Non-cash interest expense	3	3
Changes in operating assets and liabilities
Accounts receivable, net	378	(151)
Merchandise inventory	(1,966)	(969)
Prepaid expenses and other assets	(371)	(339)
Income tax receivable	29	181
Operating lease asset	7,451
Operating lease liability	(7,625)
Accounts payable	(669)	(4,400)
Accrued expenses	2,971	3,740
Deferred compensation		12
Deferred rent and leasehold incentives		(209)
Net cash provided by operating activities	10,480	7,527
Investing activities:
Acquisition of property and equipment	(10,982)	(11,511)
Acquisition of other intangibles	(1,008)	(68)
Proceeds from property insurance settlements	17	19
Net cash used in investing activities	(11,973)	(11,560)
Financing activities:
Borrowings under credit facility	113,000	94,300
Repayments under credit facility	(110,400)	(94,800)
Capital and financing lease obligation payments		(175)
Finance lease obligation payments	(519)
Dividend to shareholders	(1,573)
Loan fees paid	(25)
Payments on withholding tax for restricted stock unit vesting	(47)	(154)
Net cash provided by (used in) financing activities	436	(829)
Net decrease in cash and cash equivalents	(1,057)	(4,862)
Cash and cash equivalents, beginning of period	6,214	9,398
Cash and cash equivalents, end of period	5,157	4,536
Supplemental disclosures of cash flow information:
Cash paid for interest	163	224
Cash paid for interest on finance or capital and financing lease obligations, net of capitalized interest of $45 and $43, respectively	373	1,024
Income taxes paid	10	20
Supplemental disclosures of non-cash investing and financing activities:
Acquisition of property and equipment not yet paid	6,015	2,970
Property acquired through capital and financing lease obligations		4,688
Property acquired through operating lease obligations	6,378
Property acquired through finance lease obligations	$ 1,322

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Capitalized interest	$ 45	$ 43

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
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, 2019	22,463,057
Balance at Sep. 30, 2019	$ 23	56,319	100,923	(359)	156,906
Net income			1,868		1,868
Cash dividends			(1,573)		(1,573)
Share-based compensation (in shares)	12,661
Share-based compensation		135		96	231
Topic 842 transition impact			1,660		1,660
Balance (in shares) at Dec. 31, 2019	22,475,718
Balance at Dec. 31, 2019	$ 23	$ 56,454	$ 102,878	$ (263)	$ 159,092

Note 1 - Organization

Note 1 - Organization	3 Months Ended
	Dec. 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, body care products and dietary supplements. The Company operates its retail stores under its trademark Natural Grocers by Vitamin Cottage December 31, 2019, 155 20 153 19 September 30, 2019.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 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 December 31, 2019 2018, Three months ended December 31, 201 9 201 8 Grocery 69 % 68 Dietary supplements 21 21 Other 10 11 100 % 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 Recently Adopted Accounting Pronouncements The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 02, 842 February 2016 2018 2019 842” 842 12 842, The Company adopted ASC 842 October 1, 2019, first 2020, not not The adoption of ASC 842 $359.6 $377.8 October 1, 2019. Additionally, the Company recognized a cumulative effect adjustment, which increased retained earnings by $1.7 three December 31, 2019. $41.9 $40.2 October 1, 2019, 7 In June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, not three December 31, 2019. Recent Accounting Pronouncements In June 2016, 2016 13, 326, 2016 13 2016 13 2016 13 2019 10, November 2019, 2016 13 2016 13 first September 30, 2024. In January 2017, 2017 04, 350, 2017 04 2017 04 first two not 2019 10 2016 13 2017 04 first September 30, 2024.

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	3 Months Ended
	Dec. 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 The balance of contract liabilities related to unredeemed gift cards was $1.3 $1.0 December 31, 2019 September 30, 2019, three December 31, 2019 2018 $0.8 $0.3 September 30, 2019 2018, The following table disaggregates the Company’s revenue by product category for the three December 31, 2019 2018, Three months ended December 31, 201 9 201 8 Grocery $ 157,934 151,301 Dietary supplements 47,901 45,784 Other 24,195 24,430 $ 230,030 221,515

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Dec. 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 December 31, 2019 2018, Three months ended 201 9 201 8 Net income $ 1,868 2,197 Weighted average number of shares of common stock outstanding 22,471,350 22,386,566 Effect of dilutive securities 71,617 209,395 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,542,967 22,595,961 Basic earnings per share $ 0.08 0.10 Diluted earnings per share $ 0.08 0.10 There were 160,246 5,126 three December 31, 2019 2018, On November 13, 2019, $0.07 December 17, 2019 December 2, 2019 not three December 31, 2018.

Note 5 - Debt

Note 5 - Debt	3 Months Ended
	Dec. 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 November 13, 2024. 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, provided that so long as no may not $10.0 The Company had $8.3 $5.7 December 31, 2019 September 30, 2019, December 31, 2019 September 30, 2019, $1.0 $40.7 $43.3 December 31, 2019 September 30, 2019, As of December 31, 2019 September 30, 2019, Lease Obligations As of September 30, 2019, 23 7 October 1, 2019, 842: December 31, 2019, 16 No Interest The Company incurred gross interest expense of $0.6 $1.3 three December 31, 2019 2018, three December 31, 2019 2018 842 $0.1 three December 31, 2019 2018,

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	3 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. tock holders’ Equity Share Repurchases In May 2016, two may $10.0 May 2018, two May 4, 2020. 10b 18 1934, may 10b5 1 not may Prior to October 1, 2018, 199,543 not October 1, 2018 December 31, 2019. may $8.3 Prior to October 1, 2019, 152,321 $1.3 three December 31, 2019 2018, 12,661 $0.1 18,928 $0.1 December 31, 2019 September 30, 2019, 34,561 47,222 $0.3 $0.4

Note 7 - Lease Obligations

Note 7 - Lease Obligations	3 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	7 . Lease Obligations The Company leases most of its stores, a bulk food repackaging facility and distribution center and its administrative offices. The Company determines if an arrangement is a lease or contains a lease at inception. Lease terms generally range from 10 25 Operating lease liabilities represent the present value of lease payments not Most leases include one five Variable payments related to pass-through costs for maintenance, taxes and insurance or adjustments based on an index such as Consumer Price Index are not As most of the Company’s lease agreements do not third Leases are recorded at the commencement date (the date the underlying asset becomes available for use) for the present value of lease payments, less tenant improvement allowances received or receivable. Leases with a term of 12 not The Company’s lease agreements do not The Company subleases certain real estate or portions thereof to third 2030. The Company has five one one 12 November 1999, February 2027 $7.6 $7.8 $0.3 three December 31, 2019. 11 Table of Contents The components of total lease cost for the three December 31, 2019 Lease cost Classification Three months ended December 31, 2019 Operating lease cost: Cost of goods sold and occupancy costs $ 10,666 Store expenses 80 Administrative expenses 82 Finance lease cost: Depreciation of right-of-use assets Store expenses 761 Interest on lease liabilities Interest expense, net 418 Short-term lease cost Store expenses 85 Variable lease cost Cost of goods sold and occupancy costs (1) 1,238 Sublease income Store expenses (93 ) Total lease cost 13,237 1 Additional information related to the Company’s leases for the three December 31, 2019 Three months end ed December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,001 Operating cash flows from finance leases 418 Financing cash flows from finance leases 518 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 5,438 Finance leases 1,322 Weighted-average remaining lease term (in years): Operating leases 12.2 Finance leases 11.8 Weighted-average discount rate: Operating leases 3.6 % Finance leases 5.5 % In addition, during the three December 31, 2019, one $2.5 $2.4 Future lease payments under non-cancellable leases as of December 31, 2019 Fiscal Year Operating leases Finance leases Total Remainder of 2020 $ 33,226 2,993 36,219 2021 43,985 4,007 47,992 2022 43,278 4,029 47,307 2023 42,395 4,073 46,468 2024 40,292 4,139 44,431 Thereafter 263,902 26,604 290,506 Total future undiscounted lease payments 467,078 45,845 512,923 Less tenant improvement allowance receivable from landlord (695 ) (217 ) (912 ) Less imputed interest (93,249 ) (12,176 ) (105,425 ) Total reported lease liability 373,134 33,452 406,586 Less current portion (31,419 ) (2,374 ) (33,793 ) Noncurrent lease liability 341,715 31,078 372,793 12 Table of Contents The table above excludes $17.9 December 31, 2019 not Prior to the Company’s adoption of ASC 842, 842, 842. 842 10 September 30, 2019) Minimum rental commitments and sublease rental income under the terms of the Company’s operating leases as of September 30, 2019 Fiscal Year Third Related Sublease rental income Total operating 2020 $ 41,646 1,081 (422 ) 42,305 2021 41,484 1,058 (418 ) 42,124 2022 41,081 1,056 (424 ) 41,713 2023 40,175 1,056 (413 ) 40,818 2024 38,012 1,056 (257 ) 38,811 Thereafter 262,086 2,062 (772 ) 263,376 Total payments $ 464,484 7,369 (2,706 ) 469,147 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, 2019 Fiscal Year Interest Principal Interest Principal payments on Total future 2020 $ 3,871 569 605 333 5,378 2021 3,816 656 570 368 5,410 2022 3,751 747 532 407 5,437 2023 3,675 880 488 460 5,503 2024 3,578 1,095 439 515 5,627 Thereafter 15,088 8,244 2,142 3,889 29,363 Non-cash derecognition of capital lease finance obligations at end of lease term — 27,367 — — 27,367 Total future payments $ 33,779 39,558 4,776 5,972 84,085 Future payments under the terms of the leases for the store locations at which construction was in progress as of September 30, 2019, two 2020, Fiscal Year Interest expense on capital lease finance obligations for assets under construction Principal payments on capital lease finance obligations for assets under construction Interest expense on capital lease obligations for assets under construction Principal payments on capital lease obligations for assets under construction 2020 $ 118 18 237 123 2021 161 26 236 132 2022 160 28 228 139 2023 158 30 221 147 2024 155 33 213 155 Thereafter 1,368 756 1,827 3,944 Non-cash derecognition of capital lease finance obligations at end of lease term — 1,459 — — Total future payments $ 2,120 2,350 2,926 4,640 13 Table of Contents

Note 8 - Property and Equipment

Note 8 - Property and Equipment	3 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	8. The Company had the following property and equipment balances as of December 31, 2019 September 30, 2019, As of Useful lives (in years) December 31 , 201 9 September 30, 201 9 Construction in process n/a $ 6,428 15,145 Capitalized real estate leases for build-to-suit stores, including unamortized land of $0 and $617, respectively 40 — 42,320 Capitalized real estate leases 15 — 7,241 Land n/a 1,390 1,230 Buildings 40 26,735 23,571 Land improvements 5 – 24 1,560 1,498 Leasehold and building improvements 1 – 25 150,001 144,318 Fixtures and equipment 5 – 7 134,234 131,491 Computer hardware and software 3 – 5 22,349 21,672 342,697 388,486 Less accumulated depreciation and amortization (187,078 ) (186,851 ) Property and equipment, net $ 155,619 201,635 Prior to the Company’s adoption of ASC 842 October 1, 2019, 842, 7 Depreciation and amortization expense for the three December 31, 2019 2018 Three months ended 201 9 201 8 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 189 182 Depreciation and amortization expense included in store expenses 7,240 6,842 Depreciation and amortization expense included in administrative expenses 278 262 Total depreciation and amortization expense $ 7,707 7,286

Note 9 - Goodwill and Other Int

Note 9 - Goodwill and Other Intangible Assets	3 Months Ended
	Dec. 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 December 31, 2019 September 30, 2019, As of Useful lives (in years) December 31 , 2019 September 30, 201 9 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 3,486 2,677 Amortizable intangible assets 3,486 2,677 Less accumulated amortization (1,768 ) (1,592 ) Amortizable intangible assets, net 1,718 1,085 Other intangibles in process 2,171 1,972 Trademark Indefinite 389 389 Total other intangibles, net 4,278 3,446 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 9,476 8,644

Note 10 - Accrued Expenses

Note 10 - Accrued Expenses	3 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	10 . Accrued Expenses The composition of accrued expenses as of December 31, 2019 September 30, 2019 As of December 31 , September 30, 2019 201 9 Payroll and employee-related expenses $ 11,189 8,447 Accrued property, sales and use tax payable 7,656 7,761 Accrued marketing expenses 713 477 Deferred revenue related to gift card sales 1,612 1,410 Other 862 966 Total accrued expenses $ 22,032 19,061

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Dec. 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.

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	3 Months Ended
	Dec. 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 four $0.2 $0.3 three December 31, 2019 2018, Isely Family Land Trust LLC: one $0.1 three December 31, 2019 2018. FTVC LLC: one four $0.1 three December 31, 2019 2018.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	3 Months Ended
	Dec. 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)	3 Months Ended
	Dec. 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 December 31, 2019 2018, Three months ended December 31, 201 9 201 8 Grocery 69 % 68 Dietary supplements 21 21 Other 10 11 100 % 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
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 02, 842 February 2016 2018 2019 842” 842 12 842, The Company adopted ASC 842 October 1, 2019, first 2020, not not The adoption of ASC 842 $359.6 $377.8 October 1, 2019. Additionally, the Company recognized a cumulative effect adjustment, which increased retained earnings by $1.7 three December 31, 2019. $41.9 $40.2 October 1, 2019, The adoption of ASC 842 not three December 31, 2019. 7 In June 2018, 2018 07, 718, 2018 07 2018 07 718 2018 07 first September 30, 2020, not three December 31, 2019. Recent Accounting Pronouncements In June 2016, 2016 13, 326, 2016 13 2016 13 2016 13 2019 10, November 2019, 2016 13 2016 13 first September 30, 2024. In January 2017, 2017 04, 350, 2017 04 2017 04 first two not 2019 10 2016 13 2017 04 first September 30, 2024.

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Product Information [Table Text Block]	Three months ended December 31, 201 9 201 8 Grocery 69 % 68 Dietary supplements 21 21 Other 10 11 100 % 100

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended December 31, 201 9 201 8 Grocery $ 157,934 151,301 Dietary supplements 47,901 45,784 Other 24,195 24,430 $ 230,030 221,515

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended 201 9 201 8 Net income $ 1,868 2,197 Weighted average number of shares of common stock outstanding 22,471,350 22,386,566 Effect of dilutive securities 71,617 209,395 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,542,967 22,595,961 Basic earnings per share $ 0.08 0.10 Diluted earnings per share $ 0.08 0.10

Note 7 - Lease Obligations (Tab

Note 7 - Lease Obligations (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Lease cost Classification Three months ended December 31, 2019 Operating lease cost: Cost of goods sold and occupancy costs $ 10,666 Store expenses 80 Administrative expenses 82 Finance lease cost: Depreciation of right-of-use assets Store expenses 761 Interest on lease liabilities Interest expense, net 418 Short-term lease cost Store expenses 85 Variable lease cost Cost of goods sold and occupancy costs (1) 1,238 Sublease income Store expenses (93 ) Total lease cost 13,237
Additional Information Related to Leases	Three months end ed December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,001 Operating cash flows from finance leases 418 Financing cash flows from finance leases 518 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 5,438 Finance leases 1,322 Weighted-average remaining lease term (in years): Operating leases 12.2 Finance leases 11.8 Weighted-average discount rate: Operating leases 3.6 % Finance leases 5.5 %
Operating and Finance Lease, Liability, Maturity [Table Text Block]	Fiscal Year Operating leases Finance leases Total Remainder of 2020 $ 33,226 2,993 36,219 2021 43,985 4,007 47,992 2022 43,278 4,029 47,307 2023 42,395 4,073 46,468 2024 40,292 4,139 44,431 Thereafter 263,902 26,604 290,506 Total future undiscounted lease payments 467,078 45,845 512,923 Less tenant improvement allowance receivable from landlord (695 ) (217 ) (912 ) Less imputed interest (93,249 ) (12,176 ) (105,425 ) Total reported lease liability 373,134 33,452 406,586 Less current portion (31,419 ) (2,374 ) (33,793 ) Noncurrent lease liability 341,715 31,078 372,793
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Fiscal Year Third Related Sublease rental income Total operating 2020 $ 41,646 1,081 (422 ) 42,305 2021 41,484 1,058 (418 ) 42,124 2022 41,081 1,056 (424 ) 41,713 2023 40,175 1,056 (413 ) 40,818 2024 38,012 1,056 (257 ) 38,811 Thereafter 262,086 2,062 (772 ) 263,376 Total payments $ 464,484 7,369 (2,706 ) 469,147
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]	Fiscal Year Interest expense on capital lease finance obligations for assets under construction Principal payments on capital lease finance obligations for assets under construction Interest expense on capital lease obligations for assets under construction Principal payments on capital lease obligations for assets under construction 2020 $ 118 18 237 123 2021 161 26 236 132 2022 160 28 228 139 2023 158 30 221 147 2024 155 33 213 155 Thereafter 1,368 756 1,827 3,944 Non-cash derecognition of capital lease finance obligations at end of lease term — 1,459 — — Total future payments $ 2,120 2,350 2,926 4,640
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]	Fiscal Year Interest Principal Interest Principal payments on Total future 2020 $ 3,871 569 605 333 5,378 2021 3,816 656 570 368 5,410 2022 3,751 747 532 407 5,437 2023 3,675 880 488 460 5,503 2024 3,578 1,095 439 515 5,627 Thereafter 15,088 8,244 2,142 3,889 29,363 Non-cash derecognition of capital lease finance obligations at end of lease term — 27,367 — — 27,367 Total future payments $ 33,779 39,558 4,776 5,972 84,085

Note 8 - Property and Equipme_2

Note 8 - Property and Equipment (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of Useful lives (in years) December 31 , 201 9 September 30, 201 9 Construction in process n/a $ 6,428 15,145 Capitalized real estate leases for build-to-suit stores, including unamortized land of $0 and $617, respectively 40 — 42,320 Capitalized real estate leases 15 — 7,241 Land n/a 1,390 1,230 Buildings 40 26,735 23,571 Land improvements 5 – 24 1,560 1,498 Leasehold and building improvements 1 – 25 150,001 144,318 Fixtures and equipment 5 – 7 134,234 131,491 Computer hardware and software 3 – 5 22,349 21,672 342,697 388,486 Less accumulated depreciation and amortization (187,078 ) (186,851 ) Property and equipment, net $ 155,619 201,635
Depreciation and Amortization Expense [Table Text Block]	Three months ended 201 9 201 8 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 189 182 Depreciation and amortization expense included in store expenses 7,240 6,842 Depreciation and amortization expense included in administrative expenses 278 262 Total depreciation and amortization expense $ 7,707 7,286

Note 9 - Goodwill and Other I_2

Note 9 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of Useful lives (in years) December 31 , 2019 September 30, 201 9 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 3,486 2,677 Amortizable intangible assets 3,486 2,677 Less accumulated amortization (1,768 ) (1,592 ) Amortizable intangible assets, net 1,718 1,085 Other intangibles in process 2,171 1,972 Trademark Indefinite 389 389 Total other intangibles, net 4,278 3,446 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 9,476 8,644

Note 10 - Accrued Expenses (Tab

Note 10 - Accrued Expenses (Tables)	3 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of December 31 , September 30, 2019 201 9 Payroll and employee-related expenses $ 11,189 8,447 Accrued property, sales and use tax payable 7,656 7,761 Accrued marketing expenses 713 477 Deferred revenue related to gift card sales 1,612 1,410 Other 862 966 Total accrued expenses $ 22,032 19,061

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Dec. 31, 2019	Sep. 30, 2019
Number of Stores	155	153
Number of States in which Entity Operates	20	19

Note 2 - Basis of Presentatio_3

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018	Oct. 01, 2019USD ($)	Sep. 30, 2019USD ($)
Number of Reportable Segments	1	1
Operating Lease, Right-of-Use Asset	$ 355,167
Operating Lease, Liability, Total	373,134
Accounting Standards Update 2016-01 [Member]
Operating Lease, Right-of-Use Asset			$ 359,600
Operating Lease, Liability, Total			377,800
Cumulative Effect on Retained Earnings, Net of Tax, Total	$ 1,700
Capital Lease Obligations, Total			(41,900)
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total			$ (40,200)

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
	Dec. 31, 2019	Dec. 31, 2018
Sales percentage	100.00%	100.00%
Grocery [Member]
Sales percentage	69.00%	68.00%
Dietary Supplements [Member]
Sales percentage	21.00%	21.00%
Other [Member]
Sales percentage	10.00%	11.00%

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - Gift Cards [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2019
Contract with Customer, Liability, Total	$ 1.3		$ 1
Contract with Customer, Liability, Revenue Recognized	$ 0.8	$ 0.3

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net Sales	$ 230,030	$ 221,515
Grocery [Member]
Net Sales	157,934	151,301
Dietary Supplements [Member]
Net Sales	47,901	45,784
Manufactured Product, Other [Member]
Net Sales	$ 24,195	$ 24,430

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Nov. 13, 2019	Dec. 31, 2019	Dec. 31, 2018
Dividends Payable, Amount Per Share	$ 0.07
Dividends, Total			$ 0
Dividends Payable, Date to be Paid	Dec. 17, 2019
Dividends Payable, Date of Record	Dec. 2, 2019
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		160,246	5,126

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
	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 1,868	$ 2,197
Weighted average number of shares of common stock outstanding (in shares)	22,471,350	22,386,566
Effect of dilutive securities (in shares)	71,617	209,395
Weighted average number of shares of common stock outstanding including effect of dilutive securities (in shares)	22,542,967	22,595,961
Basic earnings per share (in dollars per share)	$ 0.08	$ 0.10
Diluted earnings per share (in dollars per share)	$ 0.08	$ 0.10

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) $ in Millions	Jan. 28, 2016USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2019USD ($)
Capital and Financing Lease Obligations Number of Leases				23
Finance Lease, Number of Lease		16
Interest Expense, Debt, Excluding Amortization		$ 0.6	$ 1.3
Interest Costs Capitalized		0.1	$ 0.1
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		8.3		5.7
Line of Credit Facility, Remaining Borrowing Capacity		$ 40.7		$ 43.3
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	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2019	Dec. 31, 2019	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			12,661	18,928	152,321
Stock Issued During Period, Value, Treasury Stock Reissued for Equity-based Compensation Obligations			$ 100	$ 100	$ 1,300
Treasury Stock, Shares, Ending Balance			34,561		47,222	34,561
Treasury Stock, Value, Ending Balance			$ 263		$ 359	$ 263

Note 7 - Lease Obligations (Det

Note 7 - Lease Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019
Lessee, Operating Lease, Renewal Term	5 years
Operating Lease, Right-of-Use Asset	$ 355,167
Operating Lease, Liability, Total	373,134
Increase (Decrease) in Operating Lease Liability for Purchase	(2,500)
Decrease in Operating Right-of-use Asset for Assets Transferred in Property and Equipment	2,400
Lessee, Operating Lease, Lease Not yet Commenced, Minimum Lease Payments	17,900
Related Parties [Member]
Operating Lease, Right-of-Use Asset	7,600
Operating Lease, Liability, Total	7,800
Operating Lease, Expense	$ 300
Minimum [Member]
Lessee, Operating Lease, Term of Contract	10 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	25 years

Note 7 - Lease Obligations - Le

Note 7 - Lease Obligations - Lease Cost (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2019USD ($)
Operating lease cost	$ 82
Total lease cost	13,237
Cost of Sales [Member]
Operating lease cost	10,666
Variable lease cost	1,238	[1]
Store Expenses [Member]
Operating lease cost	80
Depreciation of right-of-use assets	761
Short-term lease cost	85
Sublease income	(93)
Interest Expense [Member]
Interest on lease liabilities	$ 418
[1]	Immaterial balances related to corporate headquarters and distribution center are included in administrative expenses and store expenses, respectively.

Note 7 - Lease Obligations - Ad

Note 7 - Lease Obligations - Additional Information (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2019USD ($)
Operating cash flows from operating leases	$ 11,001
Operating cash flows from finance leases	418
Financing cash flows from finance leases	518
Operating leases	5,438
Finance leases	$ 1,322
Operating leases (Year)	12 years 73 days
Finance leases (Year)	11 years 292 days
Operating leases	3.60%
Finance leases	5.50%

Note 7 - Lease Obligations - Fu

Note 7 - Lease Obligations - Future Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019
Remainder of 2020, operating leases	$ 33,226
Remainder of 2020, finance leases	2,993
Remainder of 2020	36,219
2021, operating leases	43,985
2021, finance leases	4,007
2021	47,992
2022, operating leases	43,278
2022, finance leases	4,029
2022	47,307
2023, operating leases	42,395
2023, finance leases	4,073
2023	46,468
2024, operating leases	40,292
2024, finance leases	4,139
2024	44,431
Thereafter, operating leases	263,902
Thereafter, finance leases	26,604
Thereafter	290,506
Total future undiscounted lease payments, operating leases	467,078
Total future undiscounted lease payments, finance leases	45,845
Total future undiscounted lease payments	512,923
Less tenant improvement allowance receivable from landlord, operating leases	(695)
Less tenant improvement allowance receivable from landlord, finance leases	(217)
Less tenant improvement allowance receivable from landlord	(912)
Less imputed interest, operating leases	(93,249)
Less imputed interest, finance leases	(12,176)
Less imputed interest	(105,425)
Total reported lease liability, operating leases	373,134
Total reported lease liability, finance leases	33,452
Total reported lease liability	406,586
Less current portion, operating leases	(31,419)
Less current portion, finance leases	(2,374)
Less current portion	(33,793)
Noncurrent lease liability, operating leases	341,715
Noncurrent lease liability, finance leases	31,078
Noncurrent lease liability	$ 372,793

Note 7 - Lease Obligations - _2

Note 7 - Lease Obligations - Future Minimum Annual Payments Under Operating Leases (Details) $ in Thousands	Sep. 30, 2019USD ($)
Sublease rental income, 2020	$ (422)
Total operating leases, 2020	42,305
Sublease rental income, 2021	(418)
Total operating leases, 2021	42,124
Sublease rental income, 2022	(424)
Total operating leases, 2022	41,713
Sublease rental income, 2023	(413)
Total operating leases, 2023	40,818
Sublease rental income, 2024	(257)
Total operating leases, 2024	38,811
Sublease rental income, thereafter	(772)
Total operating leases, thereafter	263,376
Sublease rental income, total payments	(2,706)
Total operating leases, total payments	469,147
Related Parties [Member]
2020	1,081
2021	1,058
2022	1,056
2023	1,056
2024	1,056
Thereafter	2,062
Total payments	7,369
Third Parties [Member]
2020	41,646
2021	41,484
2022	41,081
2023	40,175
2024	38,012
Thereafter	262,086
Total payments	$ 464,484

Note 7 - Lease Obligations - Sc

Note 7 - Lease Obligations - 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, 2019USD ($)
2024, Interest expense on capital lease finance obligations	$ 3,578
2024, Principle payments on capital lease finance obligations	1,095
2024, Interest expense on capital lease obligations	439
2024, Principal payments on capital lease obligations	515
2024, Future payments on capital lease finance and capital lease obligations	5,627
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital Lease Finance Obligations [Member]
2020, Interest expense on capital lease finance obligations	3,871
2020, Principle payments on capital lease finance obligations	569
2021, Interest expense on capital lease finance obligations	3,816
2021, Principle payments on capital lease finance obligations	656
2022, Interest expense on capital lease finance obligations	3,751
2022, Principle payments on capital lease finance obligations	747
2023, Interest expense on capital lease finance obligations	3,675
2023, Principle payments on capital lease finance obligations	880
2023, Interest expense on capital lease obligations	488
2023, Principal payments on capital lease obligations	460
2023, Future payments on capital lease finance and capital lease obligations	5,503
Thereafter, Interest expense on capital lease finance obligations	15,088
Thereafter, Principle payments on capital lease finance obligations	8,244
Non-cash derecognition of capital lease finance obligations at end of lease term	27,367
Non-cash derecognition of capital lease finance obligations at end of lease term	27,367
Total future payments, interest expense on capital lease finance obligations	33,779
Total future payments, future payments on capital lease finance and capital lease obligations	84,085
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital Lease Obligations [Member]
2020, Interest expense on capital lease obligations	605
2020, Principal payments on capital lease obligations	333
2021, Interest expense on capital lease obligations	570
2021, Principal payments on capital lease obligations	368
2022, Interest expense on capital lease obligations	532
2022, Principal payments on capital lease obligations	407
Thereafter, Interest expense on capital lease obligations	2,142
Thereafter, Principal payments on capital lease obligations	3,889
Total future payments, principle payments on capital lease finance obligations	39,558
Total future payments, interest expense on capital lease obligations	4,776
Asset Held under Real Estate Leases for Build-to-suit Stores, Capital and Financing Lease Obligations [Member]
2020, Future payments on capital lease finance and capital lease obligations	5,378
2021, Future payments on capital lease finance and capital lease obligations	5,410
2022, Future payments on capital lease finance and capital lease obligations	5,437
Thereafter, Future payments on capital lease finance and capital lease obligations	29,363
Total future payments, principal payments on capital lease obligations	$ 5,972

Note 7 - Lease Obligations - _3

Note 7 - Lease Obligations - Future Minimum Lease Payments for Stores Under Construction (Details) $ in Thousands	Sep. 30, 2019USD ($)
2024, Interest expense on capital lease finance obligations	$ 3,578
2024, Principle payments on capital lease finance obligations	1,095
Asset under Construction, Capital Lease Finance Obligations [Member]
2020, Interest expense on capital lease finance obligations	118
2020, Principle payments on capital lease finance obligations	18
2020, Interest expense on capital lease obligations for assets under construction	237
2020, Total future payments on capital lease obligations for assets under construction	123
2021, Interest expense on capital lease finance obligations	161
2021, Principle payments on capital lease finance obligations	26
2021, Interest expense on capital lease obligations for assets under construction	236
2021, Total future payments on capital lease obligations for assets under construction	132
2022, Interest expense on capital lease finance obligations	160
2022, Principle payments on capital lease finance obligations	28
2022, Interest expense on capital lease obligations for assets under construction	228
2022, Total future payments on capital lease obligations for assets under construction	139
2023, Interest expense on capital lease finance obligations	158
2023, Principle payments on capital lease finance obligations	30
2023, Interest expense on capital lease obligations for assets under construction	221
2023, Total future payments on capital lease obligations for assets under construction	147
2024, Interest expense on capital lease finance obligations	155
2024, Principle payments on capital lease finance obligations	33
2024, Interest expense on capital lease obligations for assets under construction	213
2024, Total future payments on capital lease obligations for assets under construction	155
Thereafter, Interest expense on capital lease finance obligations	1,368
Thereafter, Principle payments on capital lease finance obligations	756
Thereafter, Interest expense on capital lease obligations for assets under construction	1,827
Thereafter, Total future payments on capital lease obligations for assets under construction	3,944
Non-cash derecognition of capital lease finance obligations at end of lease term	1,459
Total future payments, interest expense on capital lease finance obligations	2,120
Total future payments, principle payments on capital lease finance obligations	2,350
Total future payments of capital lease obligations for assets under construction, Interest expense on capital lease obligations for assets under construction	2,926
Total future payments of capital lease obligations for assets under construction	$ 4,640

Note 8 - Property and Equipme_3

Note 8 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019
Property, plant, and equipment, gross	$ 342,697	$ 388,486
Less accumulated depreciation and amortization	(187,078)	(186,851)
Property and equipment, net	155,619	201,635
Construction in Progress [Member]
Property, plant, and equipment, gross	6,428	15,145
Assets Held Under Real Estate Leases for Build to Suit Stores [Member]
Property, plant, and equipment, gross		42,320
Useful life (Year)	40 years
Assets Held under Capital Leases [Member]
Property, plant, and equipment, gross		7,241
Useful life (Year)	15 years
Land [Member]
Property, plant, and equipment, gross	$ 1,390	1,230
Building [Member]
Property, plant, and equipment, gross	$ 26,735	23,571
Useful life (Year)	40 years
Land Improvements [Member]
Property, plant, and equipment, gross	$ 1,560	1,498
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	$ 150,001	144,318
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	$ 134,234	131,491
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	$ 22,349	$ 21,672
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	Dec. 31, 2019	Sep. 30, 2019
Property, plant, and equipment, gross	$ 342,697	$ 388,486
Unamortized Land [Member]
Property, plant, and equipment, gross	$ 0	$ 617

Note 8 - Property and Equipme_5

Note 8 - Property and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation and amortization expense	$ 7,707	$ 7,286
Cost of Sales [Member]
Depreciation and amortization expense	189	182
Stores [Member]
Depreciation and amortization expense	7,240	6,842
General and Administrative Expense [Member]
Depreciation and amortization expense	$ 278	$ 262

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	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019
Amortizable intangible assets	$ 3,486	$ 2,677
Less accumulated amortization	(1,768)	(1,592)
Amortizable intangible assets, net	1,718	1,085
Other intangibles in process	2,171	1,972
Trademark	389	389
Total other intangibles, net	4,278	3,446
Goodwill	5,198	5,198
Total goodwill and other intangibles, net	9,476	8,644
Other Intangible Assets [Member]
Amortizable intangible assets	$ 3,486	$ 2,677
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	Dec. 31, 2019	Sep. 30, 2019
Payroll and employee-related expenses	$ 11,189	$ 8,447
Accrued property, sales and use tax payable	7,656	7,761
Accrued marketing expenses	713	477
Deferred revenue related to gift card sales	1,612	1,410
Other	862	966
Total accrued expenses	$ 22,032	$ 19,061

Note 12 - Related Party Trans_2

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