Tractor Supply Q1 sales rise 3.5% on record store growth
Tractor Supply Company continues to grow its footprint, opening a record 40 stores in its first quarter.
On the company’s earnings call, president and CEO Hal Lawton said that new store productivity remained in the 65% to 70% range.
“New stores remain a hallmark of our performance,” he told analysts.
In January, Tractor Supply said its capital plans for 2026 include opening approximately 100 namesake stores and continuing “Project Fusion” remodels and garden center transformations.
The nation’s largest rural lifestyle retailer reported that its net sales increased 3.6% to $3.59 billion in the quarter ended March 28, driven by “robust” new store openings and, to a lesser extent, growth in comparable store sales.
Comparable store sales increased 0.5% compared to a decrease of 0.9% in the prior year’s first quarter. Four of five product categories delivered positive comparable sales growth in the quarter, complemented by strength in big-ticket items, the company said.
The comparable average ticket increased 1.6%, partially offset by a comparable average transaction count decrease of 1.0%.
First-quarter net income was $164.5 million, or $0.31 per share, for the quarter, compared to $179.4 million, or $0.34 per share, in the year-ago period.
Tractor Supply said it delivered strong double-digit growth in digital sales. Growt was fueled by enhancements to the subscription model and the expansion of the its “final mile” delivery network.
“We delivered solid performance across the majority of our business in the first quarter, supported by our needs-based model and ongoing customer engagement,” Lawton said in the earnings statement. “We continued to gain market share in farm and ranch and had strong double-digit growth in digital sales. While companion animal trailed the company average, we are taking decisive actions to improve its performance.”
Tractor Supply reaffirmed its fiscal year 2026 outlook, with net sales expected to increase by 4% to 6% and comparable store sales to see 1% to 3% growth over the year. Net income is expected to reach $1.11 billion to $1.17 billion.
As of March 28, the company operated 2,435 Tractor Supply stores in 49 states and 206 Petsense by Tractor Supply stores in 23 states.
