Tractor Supply reports decreased comps for Q3

BRENTWOOD, Tenn. Tractor Supply Company reported that net sales for the third quarter of 2009 increased 1.9% to $747.7 million from $733.9 million in the prior year's third quarter. Same-store sales decreased 5.1% compared with a 6.2% increase in the prior year's third quarter.

According to the company, The same-store sales decline resulted primarily from softness in sales of seasonal big-ticket items and difficult comparisons due to strong sales of hurricane-related merchandise and seasonal heating products in the prior year's quarter. This decline was partially offset by continued strong sales in core consumable, usable and edible categories, including animal and pet-related products as well as repair and replacement parts.

Net income for the quarter increased 38.5% to $22 million, or 60 cents per diluted share, compared with $15.9 million, or 43 cents per diluted share, in the prior year's third quarter.