Tractor Supply Company to Increase Store Count in 2024

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RIDING ON A TRACTOR, LEAN ALL IN MY BLADDER

Tractor Supply Company to Increase Store Count in 2024 (Read More)

Tractor Supply to Open More Stores in 2024: The largest rural lifestyle retailer will open 80 Tractor Supply stores, 10 to 15 new Petsense stores, and continue remodels and garden center revamps.

• Expanded Growth Target: Tractor Supply increased long-term store target to 3,000 locations, up 200 stores from previous guidance.

• Fall in Net Sales: Q4 net sales decreased 8.6% to $3.66 billion, driven by decline in comparable store sales.

• Decrease in Comparable Store Sales: Comparable store sales fell 4.2%, reflecting a decline in average ticket and transaction count.

• Decline in Net Income: Q4 net income decreased 8.5% to $247.9 million, with earning per share down 6.2% compared to last year.

• Strong Business Outlook: Tractor Supply's president and CEO, Hal Lawton, highlights the strength of the business despite financial performance not meeting expectations.

• Full Year Performance: For the full year, net sales increased 2.5% to $14.56 billion, with net income increasing 1.7% to $1.11 billion.

Store Expansion and Rebranding: Tractor Supply opened 70 new stores in 2023, rebranded 81 Orscheln Farm and Home stores, and operated 2,216 Tractor Supply stores and 198 Petsense by Tractor Supply stores as of Dec. 30, 2023.

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🐦 Sean Kavanagh: This is a big step for Panther Dev w/ plenty of work ahead…

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