Better Health for All

Natural Grocers demonstrates a strong commitment to better health through its core business and educational initiatives. The company's product portfolio adheres to revolutionary nutritional standards, with grocery products meeting strict quality guidelines that prohibit artificial flavors, preservatives, sweeteners, synthetic colors, partially hydrogenated oils, and most GMO ingredients.

It sells only USDA-certified organic produce and exclusively pasture-raised, non-confinement dairy products and free-range eggs. This results in a business model that has had virtually zero harmful products since its founding in 1955, with the entire business devoted to health improvement. The company also provides extensive free science-based Nutrition Education programs, including a full-time Nutritional Health Coach in each of its 168 stores, offering one-on-one coaching and community classes, with coaches completing over 160 hours of continuing education annually. Furthermore, Natural Grocers exhibits exceptional risk transparency by advocating for comprehensive GMO labeling, including leading a successful federal lawsuit in January 2026 to overturn disclosure loopholes and require labeling of highly processed foods.

Fair Money & Economic Opportunity

Natural Grocers (NGVC.US) is a specialty retailer of natural and organic groceries and dietary supplements.

Its core business does not involve lending, insuring, moving, or storing money, which are the activities covered by the 'Fair Money & Economic Opportunity' value. The company does not offer consumer credit products, manage customer financial data, or operate as a financial institution. Therefore, all KPIs related to financial services, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives, data accessibility, fair lending compliance, wealth building outcomes, financial literacy initiatives, debt burden ratio, geographic inclusion, and product simplicity, are not applicable to its operations.

Fair Pay & Worker Respect

In February 2026, 20 workers at one Natural Grocers location in Norman, Oklahoma, voted to unionize, becoming the company's first unionized store.

This represents less than 1% of the workforce across over 160 locations. Prior to the vote, the company hired labor relations consultants at $450 per hour to hold daily captive audience meetings for three weeks. During these meetings, employees were required to attend anti-union sessions, some held in a cramped storage closet, where consultants allegedly skirted legality by predicting store closure and painting the union as racist. As of February 2026, the company's overall employee rating on Indeed.com is 3.1 out of 5 stars, based on 1,009 reviews. As of April 2018, 80% of employees averaging 30 or more hours per week receive comprehensive medical, dental, and vision benefits.

Honest & Fair Business

Natural Grocers' board of directors, as of August 2, 2023, consists of eight members, with four identified as independent

, resulting in 50% independent directors . The company has a Code of Ethics that includes an anti-corruption policy , explicitly prohibiting employees, directors, and agents from directly or indirectly paying money, products, services, or anything of value to any government official or agent . The Code also outlines a whistleblower policy , allowing confidential or anonymous reporting of suspected violations through a third-party hotline . Concerns regarding accounting, internal controls, auditing, or officer conduct are directed to the chair of the Audit Committee , which is composed entirely of independent directors .

No War, No Weapons

The provided articles, including the company's 2023 and 2024 ESG/Sustainability Reports, explicitly state that they contain no data relevant to arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investment, conflict divestment, board oversight of defense, export certifications, lobbying on arms control, humanitarian procurement, human rights due diligence in conflict areas, Arms Trade Treaty compliance, AI military safeguards, UN Guiding Principles alignment, dual-use screening, surveillance transparency, ethical red lines, exposure to controversial weapons, war risk audits, annual conflict partner reviews, defense divestment, conflict minerals, peace tech investment, conflict zone procurement, or ethical red lines compliance.

, Therefore, there is no evidence to assess the company against any of the KPIs for the 'No War, No Weapons' ethical value.

Respect for Cultures & Communities

The company reinvested approximately 0.0004% of its fiscal 2024 net sales in local community development, based on $5,000 in donations to local food banks and $1.24 billion in net sales.

It has established two formal partnerships with local community groups: the Food Bank of the Rockies and the Gunnison Country Food Pantry, each receiving a $2,500 donation. There are no reported cultural appropriation incidents.

Safe & Smart Tech

The company has not experienced any cybersecurity incidents that have materially impacted its business strategy, results of operations, or financial condition as of its December 2025 10-K filing.

A potential data security incident occurred in 2014 involving unauthorized intrusion targeting limited customer payment card data, but no fraudulent use was reported. No other incidents of unauthorized data use have been documented. The company states adherence to a comprehensive list of regulations and frameworks, including GDPR, CCPA, HIPAA, and PCI DSS, and is upgrading its point-of-sale system to be PCI-compliant. No regulatory violations, fines, or compliance issues are mentioned. The cybersecurity program includes regular security assessments, testing, and annual risk assessments. Employees are required to participate in regular cybersecurity awareness training upon hiring and quarterly thereafter, and internal tabletop exercises are periodically conducted.

Zero Waste & Sustainable Products

Natural Grocers has implemented numerous waste reduction initiatives, including eliminating single-use plastic bags at checkout since 2009

, encouraging reusable bags with a 5-cent donation to food banks , recycling shipping pallets and plastic wrap , upcycling cardboard , and composting at select stores . The company switched to plant-based, backyard-compostable produce bags and 100% recycled, recyclable, and compostable paper bags in 2020 . It also sources recyclable, biodegradable, and/or compostable packaging for its own brand products and avoids self-service bulk bins, deli counters, meat/seafood counters, and salad bars to reduce food waste . These efforts have resulted in over 500 million single-use plastic bags prevented since 2009 and an approximately 50% reduction in plastic stretch wrap from the prior year . The company has a target of eliminating single-use plastic bags . It provides free recycled boxes and offers reusable shopping bags for purchase , alongside a "Bring Your Own Bag" program that donates 5 cents per customer using a reusable bag to local food banks . The company has reported no waste disposal violations across multiple reporting periods.