Tractor Supply sales rise 4.5%; maintains outlook despite ‘external pressures’
Tractor Supply reported a solid second quarter and sounded a confident note about its prospects for the rest of the year.
The nation’s largest rural lifestyle retailer is also ramping up its store expansion, with plans to open 100 new locations in 2026.
Tractor Supply said it was reaffirming its full-year financial outlook despite external pressures, including economic uncertainty and shifting tariffs, citing its year-to-date performance and visibility into the remainder of the year.
“With a largely U.S.-sourced assortment, strong vendor partnerships and a flexible, scalable supply chain, we are well-positioned to navigate near-term dynamics and deliver long-term value for our shareholders,” stated president and CEO Hal Lawton.
Tractor Supply’s net income rose 1.1% to $430.0 million, with earnings per share of $0.81, for the quarter ended June 28, compared to $425.2 million, with earnings per share of $0.79, in the year-ago quarter.
Net sales rose 4.5% to $4.44 billion from $4.25 billion, with the increase driven primarily by new store openings and the growth in comparable store sales. It was Tractor Supply's largest sales quarter ever, Lawton said on the company's earnings call.
Comparable store sales increased 1.5%, compared to a decrease of 0.5% in the prior year’s second quarter, reflecting a comparable average transaction count increase of 1.0% and comparable average ticket growth of 0.5%.
Comp growth was driven by continued momentum in year-round categories, especially consumable, usable and edible (C.U.E.) products, along with solid demand for spring seasonal items. Performance was also positive in apparel, gift and décor, as well as big ticket items. These gains were partially offset by softness in select discretionary categories.
“We are pleased with our second quarter performance, reflecting the continued strength of our core categories and strong execution despite a delayed spring,” stated Lawton. “Our team delivered solid results by capturing market share and curating a product assortment that underscores our leadership in rural retail.
For fiscal year 2025, Tractor Supply expects net sales to rise 4% to 8%, and comparable store sales to be flat to up 4%. Net income is expected to range from $1.07 billion to $1.17 billion, with earnings per share of $2.00 to $2.18.
The company opened 24 new Tractor Supply stores and two new Petsense by Tractor Supply stores during the quarter. As of June 28, it operated 2,335 Tractor Supply stores in 49 states and 207 Petsense by Tractor Supply stores in 23 states.
