Tractor Supply profit harvest meets Street; plans 110-115 new stores

Brentwood, Tenn. – Tractor Supply Company met Wall Street expectations with profit growth that was part of an overall bountiful financial harvest in the second quarter of fiscal 2015. Net income rose 15% to $153.3 million from $133.4 million the same period a year earlier, aided by selling, general and administrative expenses, which stayed flat as a percentage of increasing sales.



Net sales grew 12% to $1.77 billion from $1.58 billion, aided by 5.6% same-store sales growth. Tractor Supply plans to open 110-115 new stores during fiscal 2015. The retailer also plans to open a new Southwest distribution center in Casa Grande, Arizona, in late fiscal 2015. These plans come as Tractor Supply boosts guidance for fiscal 2015 net income, sales and same-store sales.



"We had a solid second quarter and were pleased with the sales trends during the quarter,” said Greg Sandfort, president and CEO. “Our merchandise, planning and store teams did an excellent job of managing assortments and driving strong sales and margins for the quarter. Once again, sales growth was broad based across all our merchandise categories and geographic regions and we saw growth in both traffic and ticket.”