Tractor Supply Company wrapped up its fiscal year with a strong fourth-quarter showing.
The rural lifestyle retailer reported that its net income totaled $135.9 million, or $1.15 per diluted share, in the quarter ended Dec. 26, versus $144.2 million, or $1.21 per share, in the year-ago period. Adjusted earnings of $1.64 per share beat analysts estimates of $1.52 million.
Net sales increased 31.3%, to $2.88 billion. Same-store sales rose 27.3%, fueled by growth of 13% in comparable average ticket and a 14.3% rise in comparable average transaction count. E-commerce sales experienced triple-digit percentage growth.
Tractor Supply remains on track with its store growth initiatives. It plans to open 80 Tractor Supply stores and 10 Petsense locations in 2021.
For the full year, Tractor Supply’s net sales rose 27.2% to $10.62 billion. Comparable sales surged 23.1%.
“Our team remained agile in a challenging operating environment as we experienced unprecedented demand and welcomed a record number of new and reengaged customers to Tractor Supply,” said Hal Lawton, president and CEO, Tractor Supply. “Going forward, we believe our resilient business model with a differentiated and loyal customer base, our strategic investments to capture growth opportunities and the strength of our balance sheet position us to capitalize on the momentum in our business in 2021 and beyond.”
As of December 26, 2020, the company operated 1,923 Tractor Supply stores in 49 states 182 Petsense stores in 25 states.