Tractor Supply Company is on a roll
In the middle of revamping the inside and outside of its stores, rural retailer Tractor Supply Company reported its sixth straight quarter of double-digit same-store sales growth, and categories with high private brand presence such as pet food and consumables outperformed for the chain.
Tractor Supply, based in Brentwood, Tenn., operating nearly 2,000 stores across the country, reported that net sales increased 15.8% and same-store sales increased 13.1% for the third quarter ending Sept. 25. On a two-year stack, the chain saw nearly 40% growth in comparable store sales.
Net sales increased to $3.02 billion from $2.6 billion in Q3 and its gross profit increased 14.9% to $1.09 billion from $948 million.
The company said during its financial webcast that consumables and edibles are driving trips to stores, headlined by poultry, dry dog food and more, performing above chain average. The chain’s 4health pet food is its largest own brand, popular for its better-for-pet ingredients, and last year it partnered with country music star Miranda Lambert on a line of exclusive food to benefit her charitable efforts.