Natural Grocers by Vitamin Cottage (NGVC) 10-Q 7 May 20 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2020	May 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 Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		22,510,846
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.001 par value

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 29,374	$ 6,214
Accounts receivable, net	5,594	5,059
Merchandise inventory	88,411	96,179
Prepaid expenses and other current assets	3,253	7,728
Total current assets	126,632	115,180
Property and equipment, net	154,739	201,635
Operating lease assets	349,437
Finance lease assets	35,429
Deposits and other assets	657	1,638
Goodwill and other intangible assets, net	9,661	8,644
Deferred financing costs, net	37	17
Total assets	676,592	327,114
Current liabilities:
Accounts payable	70,767	63,162
Accrued expenses	22,663	19,061
Capital and financing lease obligations, current portion		1,045
Operating lease obligations, current portion	31,765
Finance lease obligations, current portion	2,550
Total current liabilities	127,745	83,268
Long-term liabilities:
Capital and financing lease obligations, net of current portion		51,475
Operating lease obligations, net of current portion	336,003
Finance lease obligations, net of current portion	34,248
Revolving credit facility		5,692
Deferred income tax liabilities, net	11,161	10,420
Deferred rent		11,393
Leasehold incentives		7,960
Total long-term liabilities	381,412	86,940
Total liabilities	509,157	170,208
Commitments (Note 13)
Stockholders’ equity:
Common stock, $0.001 par value, 50,000,000 shares authorized, 22,510,279 shares issued at March 31, 2020 and September 30, 2019 and 22,503,810 and 22,463,057 outstanding at March 31, 2020 and September 30, 2019, respectively	23	23
Additional paid-in capital	56,439	56,319
Retained earnings	111,022	100,923
Common stock in treasury at cost, 6,469 and 47,222 shares, at March 31, 2020 and September 30, 2019, respectively	(49)	(359)
Total stockholders’ equity	167,435	156,906
Total liabilities and stockholders’ equity	$ 676,592	$ 327,114

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2020	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)	22,503,810	22,463,057
Treasury stock, shares (in shares)	6,469	47,222

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 277,524	$ 230,447	$ 507,554	$ 451,962
Cost of goods sold and occupancy costs	199,701	168,233	369,207	330,602
Gross profit	77,823	62,214	138,347	121,360
Store expenses	56,878	50,175	108,305	99,298
Administrative expenses	7,038	5,761	12,857	11,076
Pre-opening and relocation expenses	650	157	1,080	829
Operating income	13,257	6,121	16,105	10,157
Interest expense, net	(516)	(1,280)	(1,052)	(2,535)
Income before income taxes	12,741	4,841	15,053	7,622
Provision for income taxes	(3,023)	(981)	(3,467)	(1,565)
Net income	$ 9,718	$ 3,860	$ 11,586	$ 6,057
Net income per common share:
Basic (in dollars per share)	$ 0.43	$ 0.17	$ 0.52	$ 0.27
Diluted (in dollars per share)	$ 0.43	$ 0.17	$ 0.51	$ 0.27
Weighted average number of shares of common stock outstanding:
Basic (in shares)	22,493,341	22,413,055	22,482,285	22,399,665
Diluted (in shares)	22,543,429	22,561,825	22,542,319	22,579,733

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net income	$ 11,586	$ 6,057
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,595	14,576
Gain on disposal of property and equipment		(165)
Share-based compensation	552	663
Deferred income tax expense (benefit)	475	(546)
Non-cash interest expense	6	6
Changes in operating assets and liabilities
Accounts receivable, net	(535)	254
Merchandise inventory	7,768	(1,107)
Prepaid expenses and other assets	(483)	97
Income tax receivable	4,960	(65)
Operating lease asset	14,973
Operating lease liability	(15,285)
Accounts payable	10,146	4,469
Accrued expenses	3,602	(517)
Deferred compensation		(688)
Deferred rent and leasehold incentives		(441)
Net cash provided by operating activities	53,360	22,593
Investing activities:
Acquisition of property and equipment	(18,759)	(17,644)
Acquisition of other intangibles	(1,399)	(251)
Proceeds from sale of property and equipment		792
Proceeds from property insurance settlements	27	22
Net cash used in investing activities	(20,131)	(17,081)
Financing activities:
Borrowings under credit facility	226,000	185,200
Repayments under credit facility	(231,692)	(188,200)
Capital and financing lease obligation payments		(362)
Finance lease obligation payments	(1,082)
Dividend to shareholders	(3,148)
Loan fees paid	(25)
Payments on withholding tax for restricted stock unit vesting	(122)	(265)
Net cash used in financing activities	(10,069)	(3,627)
Net increase in cash and cash equivalents	23,160	1,885
Cash and cash equivalents, beginning of period	6,214	9,398
Cash and cash equivalents, end of period	29,374	11,283
Supplemental disclosures of cash flow information:
Cash paid for interest	328	439
Cash paid for interest on finance or capital and financing lease obligations, net of capitalized interest of $68 and $59, respectively	781	2,087
Income taxes paid	10	2,962
Deferred compensation paid		700
Supplemental disclosures of non-cash investing and financing activities:
Acquisition of property and equipment not yet paid	3,748	1,228
Property acquired through capital and financing lease obligations		4,842
Property acquired through operating lease obligations	8,170
Property acquired through finance lease obligations	$ 5,232

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Capitalized interest	$ 68	$ 59

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)	22,373,382
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)	22,392,310
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
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)	22,431,553
Balance (in shares)	22,392,310
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
Balance (in shares)	22,431,553
Balance (in shares)	22,431,553
Balance (in shares)	22,463,057
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
Balance (in shares)	22,475,718
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					11,586
Balance (in shares) at Mar. 31, 2020	22,503,810
Balance at Mar. 31, 2020	$ 23	56,439	111,022	(49)	167,435
Balance (in shares)	22,503,810
Balance (in shares)	22,475,718
Balance (in shares) at Dec. 31, 2019	22,475,718
Balance at Dec. 31, 2019	$ 23	56,454	102,878	(263)	159,092
Net income			9,718		9,718
Cash dividends			(1,574)		(1,574)
Share-based compensation (in shares)	28,092
Share-based compensation		(15)		214	199
Balance (in shares) at Mar. 31, 2020	22,503,810
Balance at Mar. 31, 2020	$ 23	$ 56,439	$ 111,022	$ (49)	$ 167,435
Balance (in shares)	22,503,810
Balance (in shares)	22,503,810

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Mar. 31, 2020
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 March 31, 2020, 157 20 153 19 September 30, 2019.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2020
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, 2020 2019, Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Grocery 67 % 68 68 68 Dietary supplements 23 22 22 21 Other 10 10 10 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 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 six March 31, 2020. $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 six March 31, 2020. 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. In March 2020, 2020 04, 848, 2020 04 not

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	6 Months Ended
	Mar. 31, 2020
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 $1.2 $1.0 March 31, 2020 September 30, 2019, three March 31, 2020 2019 $0 $0.2 September 30, 2019 2018, six March 31, 2020 2019 $0.8 $0.5 September 30, 2019 2018, The following table disaggregates our revenue by product category for the three six March 31, 2020 2019, Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Grocery $ 186,171 157,802 344,106 309,103 Dietary supplements 63,969 49,700 111,870 95,484 Other 27,384 22,945 51,578 47,375 $ 277,524 230,447 507,554 451,962

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	6 Months Ended
	Mar. 31, 2020
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, 2020 2019, Three months ended Six months ended 2020 2019 2020 2019 Net income $ 9,718 3,860 11,586 6,057 Weighted average number of shares of common stock outstanding 22,493,341 22,413,055 22,482,285 22,399,665 Effect of dilutive securities 50,088 148,770 60,034 180,068 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,543,429 22,561,825 22,542,319 22,579,733 Basic earnings per share $ 0.43 0.17 0.52 0.27 Diluted earnings per share $ 0.43 0.17 0.51 0.27 There were 142,020 181,720 three six March 31, 2020, 72,599 27,574 three six March 31, 2019, The Company paid a dividend of $0.07 first two 2020. not three six March 31, 2019.

Note 5 - Debt

Note 5 - Debt	6 Months Ended
	Mar. 31, 2020
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 $0 $5.7 March 31, 2020 September 30, 2019, March 31, 2020 September 30, 2019, $1.0 $49.0 $43.3 March 31, 2020 September 30, 2019, As of March 31, 2020 September 30, 2019, Lease Obligations As of September 30, 2019, 23 7 October 1, 2019, 842: March 31, 2020, 17 No Interest The Company incurred gross interest expense of approximately $0.5 $1.3 three March 31, 2020 2019, $1.1 $2.6 six March 31, 2020 2019, three six March 31, 2020 2019 $0.1 three March 31, 2020 2019 $0.1 six March 31, 2020 2019.

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	6 Months Ended
	Mar. 31, 2020
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, May 31, 2022 ( 14 10b 18 1934, may 10b5 1 not may Prior to October 1, 2018, 199,543 not October 1, 2018 March 31, 2020. may $8.3 Prior to October 1, 2019, 152,321 $1.3 three six March 31, 2020, 28,092 $0.2 40,753 $0.3 three six March 31, 2019, 39,243 $0.3 58,171 $0.4 March 31, 2020 September 30, 2019, 6,469 47,222 $0.1 $0.4

Note 7 - Lease Obligations

Note 7 - Lease Obligations	6 Months Ended
	Mar. 31, 2020
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 $7.3 $7.6 $0.3 $0.7 three six March 31, 2020, The components of total lease cost for the three six March 31, 2020 Lease cost Classification Three months ended March 31, 2020 Six months ended March 31, 2020 Operating lease cost: Cost of goods sold and occupancy costs $ 10,586 21,252 Store expenses 79 159 Administrative expenses 77 159 Pre-opening and relocation expenses 122 122 Finance lease cost: Depreciation of right-of-use assets Store expenses ( 1 ) 726 1,487 Interest on lease liabilities Interest expense, net (1) 385 803 Short-term lease cost Store expenses 443 528 Variable lease cost Cost of goods sold and occupancy costs (2) 1,367 2,605 Sublease income Store expenses (92 ) (185 ) Total lease cost $ 13,693 26,930 1 not 2 Additional information related to the Company’s leases for the three six March 31, 2020 Three months ended March 31, 2020 Six months ended March 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,003 22,004 Operating cash flows from finance leases 431 849 Financing cash flows from finance leases 564 1,082 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 1,792 7,230 Finance leases 3,910 5,232 Weighted-average remaining lease term (in years): Operating leases 12.0 Finance leases 12.0 Weighted-average discount rate: Operating leases 3.6 % Finance leases 4.9 % In addition, during the six March 31, 2020, one $2.5 $2.4 Future lease payments under non-cancellable leases as of March 31, 2020 Fiscal Year Operating leases Finance leases Total Remainder of 2020 $ 22,276 2,132 24,408 2021 44,151 4,367 48,518 2022 43,444 4,389 47,833 2023 42,561 4,433 46,994 2024 40,458 4,499 44,957 Thereafter 265,950 30,579 296,529 Total future undiscounted lease payments 458,840 50,399 509,239 Less tenant improvement allowance receivable from landlord (401 ) (218 ) (619 ) Less imputed interest (90,671 ) (13,383 ) (104,054 ) Total reported lease liability 367,768 36,798 404,566 Less current portion (31,765 ) (2,550 ) (34,315 ) Noncurrent lease liability $ 336,003 34,248 370,251 The table above excludes $10.7 March 31, 2020 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 capital lease finance and capital lease obligations 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 for assets under construction Principal payments on capital lease 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 2,962 4,640

Note 8 - Property and Equipment

Note 8 - Property and Equipment	6 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	8. The Company had the following property and equipment balances as of March 31, 2020 September 30, 2019, As of Useful lives (in years) March 31 , 20 20 September 30, 201 9 Construction in process n/a $ 6,158 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 1,572 1,498 Leasehold and building improvements 1 – 25 152,977 144,318 Fixtures and equipment 5 – 7 136,897 131,491 Computer hardware and software 3 – 5 22,981 21,672 348,710 388,486 Less accumulated depreciation and amortization (193,971 ) (186,851 ) Property and equipment, net $ 154,739 201,635 Prior to the Company’s adoption of ASC 842 October 1, 2019, 842, 7 Depreciation and amortization expense for the three six March 31, 2020 2019 Three months ended Six months ended 2020 2019 2020 2019 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 194 185 383 367 Depreciation and amortization expense included in store expenses 7,393 6,848 14,633 13,690 Depreciation and amortization expense included in administrative expenses 301 257 579 519 Total depreciation and amortization expense $ 7,888 7,290 15,595 14,576

Note 9 - Goodwill and Other Int

Note 9 - Goodwill and Other Intangible Assets	6 Months Ended
	Mar. 31, 2020
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, 2020 September 30, 2019, Useful lives As of (in years) March 31 , 20 20 September 30, 201 9 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 3,496 2,677 Amortizable intangible assets 3,496 2,677 Less accumulated amortization (1,974 ) (1,592 ) Amortizable intangible assets, net 1,522 1,085 Other intangibles in process 2,552 1,972 Trademark Indefinite 389 389 Total other intangibles, net 4,463 3,446 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 9,661 8,644

Note 10 - Accrued Expenses

Note 10 - Accrued Expenses	6 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	10 . Accrued Expenses The composition of accrued expenses as of March 31, 2020 September 30, 2019 As of March 31 , September 30, 20 20 201 9 Payroll and employee-related expenses $ 11,193 8,447 Accrued property, sales and use tax payable 7,738 7,761 Accrued marketing expenses 994 477 Deferred revenue related to gift card sales 1,599 1,410 Other 1,139 966 Total accrued expenses $ 22,663 19,061

Note 11 - Income Taxes

Note 11 - Income Taxes	6 Months Ended
	Mar. 31, 2020
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. On March 27, 2020, 19 As a result of the technical amendments made by the CARES Act to QIP, the Company is currently analyzing the acceleration of depreciation expenses. These accelerated tax depreciation expenses of approximately $4.0 no not

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	6 Months Ended
	Mar. 31, 2020
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 March 31, 2020 2019, $0.5 $0.6 six March 31, 2020 2019, Isely Family Land Trust LLC: one $0.1 three March 31, 2020 2019. $0.2 six March 31, 2020 2019. FTVC LLC: one four $0.1 three March 31, 2020 2019. $0.1 six March 31, 2020 2019.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	6 Months Ended
	Mar. 31, 2020
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

Note 14 - Subsequent Event

Note 14 - Subsequent Event	6 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	1 4 . Subsequent Event On May 4, 2020, May 31, 2022. On May 6, 2020, $0.07 June 16, 2020 June 1, 2020.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2020
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, 2020 2019, Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Grocery 67 % 68 68 68 Dietary supplements 23 22 22 21 Other 10 10 10 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
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 six March 31, 2020. $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 six March 31, 2020. 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. In March 2020, 2020 04, 848, 2020 04 not

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Product Information [Table Text Block]	Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Grocery 67 % 68 68 68 Dietary supplements 23 22 22 21 Other 10 10 10 11 100 % 100 100 100

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Grocery $ 186,171 157,802 344,106 309,103 Dietary supplements 63,969 49,700 111,870 95,484 Other 27,384 22,945 51,578 47,375 $ 277,524 230,447 507,554 451,962

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Six months ended 2020 2019 2020 2019 Net income $ 9,718 3,860 11,586 6,057 Weighted average number of shares of common stock outstanding 22,493,341 22,413,055 22,482,285 22,399,665 Effect of dilutive securities 50,088 148,770 60,034 180,068 Weighted average number of shares of common stock outstanding including effect of dilutive securities 22,543,429 22,561,825 22,542,319 22,579,733 Basic earnings per share $ 0.43 0.17 0.52 0.27 Diluted earnings per share $ 0.43 0.17 0.51 0.27

Note 7 - Lease Obligations (Tab

Note 7 - Lease Obligations (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	Lease cost Classification Three months ended March 31, 2020 Six months ended March 31, 2020 Operating lease cost: Cost of goods sold and occupancy costs $ 10,586 21,252 Store expenses 79 159 Administrative expenses 77 159 Pre-opening and relocation expenses 122 122 Finance lease cost: Depreciation of right-of-use assets Store expenses ( 1 ) 726 1,487 Interest on lease liabilities Interest expense, net (1) 385 803 Short-term lease cost Store expenses 443 528 Variable lease cost Cost of goods sold and occupancy costs (2) 1,367 2,605 Sublease income Store expenses (92 ) (185 ) Total lease cost $ 13,693 26,930
Additional Information Related to Leases	Three months ended March 31, 2020 Six months ended March 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,003 22,004 Operating cash flows from finance leases 431 849 Financing cash flows from finance leases 564 1,082 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 1,792 7,230 Finance leases 3,910 5,232 Weighted-average remaining lease term (in years): Operating leases 12.0 Finance leases 12.0 Weighted-average discount rate: Operating leases 3.6 % Finance leases 4.9 %
Operating and Finance Lease, Liability, Maturity [Table Text Block]	Fiscal Year Operating leases Finance leases Total Remainder of 2020 $ 22,276 2,132 24,408 2021 44,151 4,367 48,518 2022 43,444 4,389 47,833 2023 42,561 4,433 46,994 2024 40,458 4,499 44,957 Thereafter 265,950 30,579 296,529 Total future undiscounted lease payments 458,840 50,399 509,239 Less tenant improvement allowance receivable from landlord (401 ) (218 ) (619 ) Less imputed interest (90,671 ) (13,383 ) (104,054 ) Total reported lease liability 367,768 36,798 404,566 Less current portion (31,765 ) (2,550 ) (34,315 ) Noncurrent lease liability $ 336,003 34,248 370,251
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 for assets under construction Principal payments on capital lease 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 2,962 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 capital lease finance and capital lease obligations 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)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of Useful lives (in years) March 31 , 20 20 September 30, 201 9 Construction in process n/a $ 6,158 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 1,572 1,498 Leasehold and building improvements 1 – 25 152,977 144,318 Fixtures and equipment 5 – 7 136,897 131,491 Computer hardware and software 3 – 5 22,981 21,672 348,710 388,486 Less accumulated depreciation and amortization (193,971 ) (186,851 ) Property and equipment, net $ 154,739 201,635
Depreciation and Amortization Expense [Table Text Block]	Three months ended Six months ended 2020 2019 2020 2019 Depreciation and amortization expense included in cost of goods sold and occupancy costs $ 194 185 383 367 Depreciation and amortization expense included in store expenses 7,393 6,848 14,633 13,690 Depreciation and amortization expense included in administrative expenses 301 257 579 519 Total depreciation and amortization expense $ 7,888 7,290 15,595 14,576

Note 9 - Goodwill and Other I_2

Note 9 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Useful lives As of (in years) March 31 , 20 20 September 30, 201 9 Amortizable intangible assets: Other intangibles 0.5 - 3 $ 3,496 2,677 Amortizable intangible assets 3,496 2,677 Less accumulated amortization (1,974 ) (1,592 ) Amortizable intangible assets, net 1,522 1,085 Other intangibles in process 2,552 1,972 Trademark Indefinite 389 389 Total other intangibles, net 4,463 3,446 Goodwill Indefinite 5,198 5,198 Total goodwill and other intangibles, net $ 9,661 8,644

Note 10 - Accrued Expenses (Tab

Note 10 - Accrued Expenses (Tables)	6 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of March 31 , September 30, 20 20 201 9 Payroll and employee-related expenses $ 11,193 8,447 Accrued property, sales and use tax payable 7,738 7,761 Accrued marketing expenses 994 477 Deferred revenue related to gift card sales 1,599 1,410 Other 1,139 966 Total accrued expenses $ 22,663 19,061

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Mar. 31, 2020	Sep. 30, 2019
Number of Stores	157	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	6 Months Ended
	Mar. 31, 2020USD ($)	Oct. 01, 2019USD ($)	Sep. 30, 2019USD ($)
Number of Reportable Segments	1
Operating Lease, Right-of-Use Asset	$ 349,437
Operating Lease, Liability, Total	367,768
Retained Earnings (Accumulated Deficit), Ending Balance	111,022		$ 100,923
Accounting Standards Update 2016-01 [Member]
Operating Lease, Right-of-Use Asset		$ 359,600
Operating Lease, Liability, Total		$ 377,800
Capital Lease Obligations, Total	(41,900)
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total	(40,200)
Accounting Standards Update 2016-01 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Retained Earnings (Accumulated Deficit), Ending Balance	$ 1,700

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, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Sales percentage	100.00%	100.00%	100.00%	100.00%
Grocery [Member]
Sales percentage	67.00%	68.00%	68.00%	68.00%
Dietary Supplements [Member]
Sales percentage	23.00%	22.00%	22.00%	21.00%
Other [Member]
Sales percentage	10.00%	10.00%	10.00%	11.00%

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - Gift Cards [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019
Contract with Customer, Liability, Total	$ 1,200		$ 1,200		$ 1,000
Contract with Customer, Liability, Revenue Recognized	$ 0	$ 200	$ 800	$ 500

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 277,524	$ 230,447	$ 507,554	$ 451,962
Grocery [Member]
Net sales	186,171	157,802	344,106	309,103
Dietary Supplements [Member]
Net sales	63,969	49,700	111,870	95,484
Manufactured Product, Other [Member]
Net sales	$ 27,384	$ 22,945	$ 51,578	$ 47,375

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Dividends, Total (in dollars per share)	$ 0.07		$ 0.07
Dividends, Total		$ 0		$ 0
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	142,020	72,599	181,720	27,574

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, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 9,718	$ 3,860	$ 11,586	$ 6,057
Weighted average number of shares of common stock outstanding (in shares)	22,493,341	22,413,055	22,482,285	22,399,665
Effect of dilutive securities (in shares)	50,088	148,770	60,034	180,068
Weighted average number of shares of common stock outstanding including effect of dilutive securities (in shares)	22,543,429	22,561,825	22,542,319	22,579,733
Basic earnings per share (in dollars per share)	$ 0.43	$ 0.17	$ 0.52	$ 0.27
Diluted earnings per share (in dollars per share)	$ 0.43	$ 0.17	$ 0.51	$ 0.27

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) $ in Thousands	Jan. 28, 2016USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2019USD ($)
Capital and Financing Lease Obligations Number of Leases		17		17		23
Interest Expense, Debt, Excluding Amortization		$ 500	$ 1,300	$ 1,100	$ 2,600
Interest Costs Capitalized		100	$ 100	100	$ 100
Letter of Credit [Member]
Letters of Credit Outstanding, Amount		1,000		1,000
The New Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000
Line of Credit Facility, Dividend Restrictions, Maximum Amount	10,000
Long-term Line of Credit, Total		0		0		$ 5,700
Line of Credit Facility, Remaining Borrowing Capacity		$ 49,000		$ 49,000		$ 43,300
The New Credit Facility [Member] | Standby Letters of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands	May 02, 2018	May 04, 2016	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019	Mar. 31, 2020	Sep. 30, 2018
Stock Repurchase Program, Period in Force (Year)	2 years	2 years
Stock Repurchase Program, Authorized Amount		$ 10,000
Stock Repurchased During Period, Shares (in shares)								0	199,543
Stock Repurchase Program, Remaining Authorized Repurchase Amount			$ 8,300		$ 8,300			$ 8,300
Stock Issued During Period, Shares, Treasury Stock Reissued for Equity-based Compensation Obligations (in shares)			28,092	39,243	40,753	58,171	152,321
Stock Issued During Period, Value, Treasury Stock Reissued for Equity-based Compensation Obligations			$ 200	$ 300	$ 300	$ 400	$ 1,300
Treasury Stock, Shares, Ending Balance (in shares)			6,469		6,469		47,222	6,469
Treasury Stock, Shares, Ending Balance			$ 49		$ 49		$ 359	$ 49

Note 7 - Lease Obligations (Det

Note 7 - Lease Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Sep. 30, 2019
Lessee, Operating Lease, Renewal Term (Year)	5 years	5 years
Operating Lease, Right-of-Use Asset	$ 349,437	$ 349,437
Operating Lease, Liability, Total	367,768	367,768
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	10,700	10,700
Related Parties [Member]
Operating Lease, Right-of-Use Asset	7,300	7,300
Operating Lease, Liability, Total	7,600	7,600
Operating Lease, Expense	$ 300	$ 700
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	10 years	10 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	25 years	25 years

Note 7 - Lease Obligations - Le

Note 7 - Lease Obligations - Lease Cost (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Mar. 31, 2020	Mar. 31, 2020
Total lease cost		$ 13,693	$ 26,930
Cost of Sales [Member]
Operating lease cost		10,586	21,252
Variable lease cost	[1]	1,367	2,605
Store Expenses [Member]
Operating lease cost		79	159
Depreciation of right-of-use assets	[2]	726	1,487
Short-term lease cost		443	528
Sublease income		(92)	(185)
General and Administrative Expense [Member]
Operating lease cost		77	159
Pre-opening Costs and Relocation Expenses [Member]
Operating lease cost		122	122
Interest Expense [Member]
Interest on lease liabilities	[2]	$ 385	$ 803
[1]	Immaterial balances related to corporate headquarters and distribution center are included in administrative expenses and store expenses, respectively.
[2]	Immaterial balances related to stores not yet open are included in pre-opening and relocation expenses.

Note 7 - Lease Obligations - Ad

Note 7 - Lease Obligations - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)
Operating cash flows from operating leases	$ 11,003	$ 22,004
Operating cash flows from finance leases	431	849
Financing cash flows from finance leases	564	1,082
Operating leases	1,792	7,230
Finance leases	$ 3,910	$ 5,232
Operating leases (Year)	12 years	12 years
Finance leases (Year)	12 years	12 years
Operating leases	3.60%	3.60%
Finance leases	4.90%	4.90%

Note 7 - Lease Obligations - Fu

Note 7 - Lease Obligations - Future Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Sep. 30, 2019
Remainder of 2020, operating leases	$ 22,276
Remainder of 2020, finance leases	2,132
Remainder of 2020	24,408
2021, operating leases	44,151
2021, finance leases	4,367
2021	48,518
2022, operating leases	43,444
2022, finance leases	4,389
2022	47,833
2023, operating leases	42,561
2023, finance leases	4,433
2023	46,994
2024, operating leases	40,458
2024, finance leases	4,499
2024	44,957
Thereafter, operating leases	265,950
Thereafter, finance leases	30,579
Thereafter	296,529
Total future undiscounted lease payments, operating leases	458,840
Total future undiscounted lease payments, finance leases	50,399
Total future undiscounted lease payments	509,239
Less tenant improvement allowance receivable from landlord, operating leases	(401)
Less tenant improvement allowance receivable from landlord, finance leases	(218)
Less tenant improvement allowance receivable from landlord	(619)
Less imputed interest, operating leases	(90,671)
Less imputed interest, finance leases	(13,383)
Less imputed interest	(104,054)
Total reported lease liability, operating leases	367,768
Total reported lease liability, finance leases	36,798
Total reported lease liability	404,566
Less current portion, operating leases	(31,765)
Less current portion, finance leases	(2,550)
Less current portion	(34,315)
Noncurrent lease liability, operating leases	336,003
Noncurrent lease liability, finance leases	34,248
Noncurrent lease liability	$ 370,251

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) - Asset Held under Real Estate Leases for Build-to-suit Stores, Capital Lease Finance Obligations [Member] $ in Thousands	Sep. 30, 2019USD ($)
2020, Interest expense on capital lease finance obligations	$ 3,871
2020, Principle payments on capital lease finance obligations	569
2020, Interest expense on capital lease obligations	605
2020, Principal payments on capital lease obligations	333
2020, Future payments on capital lease finance and capital lease obligations	5,378
2021, Interest expense on capital lease finance obligations	3,816
2021, Principle payments on capital lease finance obligations	656
2021, Interest expense on capital lease obligations	570
2021, Principal payments on capital lease obligations	368
2021, Future payments on capital lease finance and capital lease obligations	5,410
2022, Interest expense on capital lease finance obligations	3,751
2022, Principle payments on capital lease finance obligations	747
2022, Interest expense on capital lease obligations	532
2022, Principal payments on capital lease obligations	407
2022, Future payments on capital lease finance and capital lease obligations	5,437
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
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
Thereafter, Interest expense on capital lease finance obligations	15,088
Thereafter, Principle payments on capital lease finance obligations	8,244
Thereafter, Interest expense on capital lease obligations	2,142
Thereafter, Principal payments on capital lease obligations	3,889
Thereafter, Future payments on capital lease finance and capital lease obligations	29,363
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, principle payments on capital lease finance obligations	39,558
Total future payments, interest expense on capital lease obligations	4,776
Total future payments, principal payments on capital lease obligations	5,972
Total future payments, future payments on capital lease finance and capital lease obligations	$ 84,085

Note 7 - Lease Obligations - _3

Note 7 - Lease Obligations - Future Minimum Lease Payments for Stores Under Construction (Details) - Asset under Construction, Capital Lease Finance Obligations [Member] $ in Thousands	Sep. 30, 2019USD ($)
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	2,962
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
	Mar. 31, 2020	Sep. 30, 2019
Property, plant, and equipment, gross	$ 348,710	$ 388,486
Less accumulated depreciation and amortization	(193,971)	(186,851)
Property and equipment, net	154,739	201,635
Construction in Progress [Member]
Property, plant, and equipment, gross	6,158	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	$ 1,572	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	$ 152,977	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	$ 136,897	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	$ 22,981	$ 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	Mar. 31, 2020	Sep. 30, 2019
Property, plant, and equipment, gross	$ 348,710	$ 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		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Depreciation and amortization expense	$ 7,888	$ 7,290	$ 15,595	$ 14,576
Cost of Sales [Member]
Depreciation and amortization expense	194	185	383	367
Stores [Member]
Depreciation and amortization expense	7,393	6,848	14,633	13,690
General and Administrative Expense [Member]
Depreciation and amortization expense	$ 301	$ 257	$ 579	$ 519

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
	Mar. 31, 2020	Sep. 30, 2019
Amortizable intangible assets	$ 3,496	$ 2,677
Less accumulated amortization	(1,974)	(1,592)
Amortizable intangible assets, net	1,522	1,085
Other intangibles in process	2,552	1,972
Trademark	389	389
Total other intangibles, net	4,463	3,446
Goodwill	5,198	5,198
Total goodwill and other intangibles, net	9,661	8,644
Other Intangible Assets [Member]
Amortizable intangible assets	$ 3,496	$ 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	Mar. 31, 2020	Sep. 30, 2019
Payroll and employee-related expenses	$ 11,193	$ 8,447
Accrued property, sales and use tax payable	7,738	7,761
Accrued marketing expenses	994	477
Deferred revenue related to gift card sales	1,599	1,410
Other	1,139	966
Total accrued expenses	$ 22,663	$ 19,061

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) $ in Millions	Mar. 31, 2020USD ($)
Deferred Income Tax Liabilities, Net [Member]
Accelerated Tax Depreciation Expenses	$ 4

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Chalet [Member]
Number of Operating Leases	5		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	$ 0.5	$ 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

Note 14 - Subsequent Event (Det

Note 14 - Subsequent Event (Details Textual) - $ / shares	May 06, 2020	Mar. 31, 2020
Dividends, Total (in dollars per share)		$ 0.07
Subsequent Event [Member]
Dividends, Total (in dollars per share)	$ 0.07