Private Label Expansion, New Store Growth On Tap At Tractor Supply
Tractor Supply's expansion plans for 2025 include opening 100 new locations while also increasing the penetration of private label and exclusive licensed brands.
As part of its Life Out Here 2030 plan, the company in the coming year plans on opening 90 new Tractor Supply stores and 10 Petsense by Tractor Supply locations. The retailer also updated its total addressable market to approximately $225 billion from $180 billion and its long-term store count to 3,200, an increase of 200 locations.
Since introducing its Life Out Here strategy in October 2020, the company has scaled its Project Fusion store layout and remodel program to about 50% of its stores, completed more than 550 garden centers, added 22 million members to its Neighbor’s Club loyalty program, grown its digital sales by more than 340%, and opened 13 distribution facilities.
“Our Life Out Here 2030 strategy continues the momentum of our existing initiatives as well as launches new initiatives such as Pet Rx and Direct Sales,” said Hal Lawton, president and CEO of Tractor Supply. “We remain steadfast in our commitment to drive sustainable growth and long-term value for our shareholders.”
The company offered few specifics on its growth efforts related to its private label and exclusive brands.
Other initiatives as part of its Life Out Here 2030 strategy include:
- Localization – Tailor product selection to meet specific demographic and regional needs to maximize relevance while remodeling store layout and adding updated features
- Direct Sales Opportunity – Extend its legendary customer service to address the “Out Here” business-to-business market including larger farms, small to medium businesses, and event spaces
- Pet and Animal Rx – Expand capabilities to grow share of wallet with pet and animal customers while driving increased loyalty through its more than 37 million Neighbor’s Club members
- Final Mile Delivery – Create a comprehensive and scalable final mile delivery solution to provide greater order visibility and delivery reliability to its customers and unlock the potential of its direct sales opportunity
- Tractor Supply Retail Media Network – Scale comprehensive media platform to support its brand partners and activate a new profit stream
Additionally, Tractor Supply is forecast net sales growth of between 6% and 8% in the coming year, with comparable store sales growth of between 3% and 5%.
