Tractor Supply Continues to See Gains in Q3

Rural lifestyle retailer Tractor Supply Co. continues to grow, as its Q3 2022 results show a jump in net sales and gross profit.

Led partially by the chain’s private brands, net sales for the third quarter of 2022 increased 8.4% to $3.27 billion, compared to $3.02 billion in the same period last year.  Comparable store sales increased 5.7%, partially led by a comparable average ticket growth of 7.0%, as compared to an increase of 13.1% in the prior year's third quarter. 

Gross profit increased 7.4% to $1.17 billion in Q3 2022 from $1.09 billion in Q3 2021. The company opened 11 new Tractor Supply stores and two new Petsense by Tractor Supply stores in the third quarter of 2022.

“Tractor Supply delivered another record quarter as we continued to gain market share and extended our trend of consistent and stable net sales and earnings growth,” said Hal Lawton, Tractor Supply president and CEO. “In a dynamic environment, the underlying health of our business remains resilient given our needs-based, demand-driven product categories, best-in-class customer service and customer relationship management capabilities. I want to thank the entire Tractor Supply team for their hard work to deliver our strong third quarter results, their dedication to advance our strategic plans to deliver sustainable long-term growth and their commitment to living our Mission and Values.”

Lawton added that the retailer is on pace to exceed $14 billion in sales this year.

Tractor Supply Co. operates more than 2,100 stores and employs approximately 50,000 team members.