As profits soar, Tractor Supply turns in strong Q4
Tractor Supply Company and its brand of home improvement, farm and ranch, and community retailing continues to prove itself.
The Brentwood, Tenn.-based retailer reported fourth quarter 2018 net sales increased 9.2% to $2.13 billion from fourth quarter 2017 net sales of $1.95 billion.
Comparable store sales for the quarter increased 5.7% compared to an increased of 4% for the same period in 2017. Tractor Supply said comp store sales results included increases in a comp average ticket of 3 and comp transaction count of 2.6%.
Net sales for 2018 increased 9% to $7.91 billion from $7.26 billion in fiscal 2017. Comp store sales increased 5.1% versus a 2.7% increase in fiscal 2017.
Tractor Supply reported a net income of $136.9 million for the fourth quarter in comparison to a net income of $109.7 million in the fourth quarter of 2017 – nearly a 25% increase.
For fiscal 2018, the company reported a net income of $532.4 million – rising 26% compared to a net income of $422.6 million in 2017.
During the fourth quarter, Tractor Supply opened 17 new Tractor Supply stores and 4 new Petsense stores. But the company said it also closed 10 Petsense stores during the period.
For all of 2018, the company opened 80 new Tractor Supply stores and 18 new Petsense stores and closed 11 Petsense stores.
“2018 was a successful year for Tractor Supply, driven by balanced and broad-based sales growth, while making strategic investments in our business,” said Greg Sandfort, CEO of Tractor Supply.
“As we move into 2019, we continue to build on our ONETractor strategy to provide our customers with a seamless shopping experience anytime, anywhere and in any way they choose. We remain excited about our future prospects and continue to believe we are well positioned for long-term growth and sustainable shareholder value creation,” Sandfort said.
As of Dec. 29, 2018, Tractor Supply operated 1,765 Tractor Supply stores in 49 states along with 175 Petsense stores in 26 states.
The Brentwood, Tenn.-based retailer reported fourth quarter 2018 net sales increased 9.2% to $2.13 billion from fourth quarter 2017 net sales of $1.95 billion.
Comparable store sales for the quarter increased 5.7% compared to an increased of 4% for the same period in 2017. Tractor Supply said comp store sales results included increases in a comp average ticket of 3 and comp transaction count of 2.6%.
Net sales for 2018 increased 9% to $7.91 billion from $7.26 billion in fiscal 2017. Comp store sales increased 5.1% versus a 2.7% increase in fiscal 2017.
Tractor Supply reported a net income of $136.9 million for the fourth quarter in comparison to a net income of $109.7 million in the fourth quarter of 2017 – nearly a 25% increase.
For fiscal 2018, the company reported a net income of $532.4 million – rising 26% compared to a net income of $422.6 million in 2017.
During the fourth quarter, Tractor Supply opened 17 new Tractor Supply stores and 4 new Petsense stores. But the company said it also closed 10 Petsense stores during the period.
For all of 2018, the company opened 80 new Tractor Supply stores and 18 new Petsense stores and closed 11 Petsense stores.
“2018 was a successful year for Tractor Supply, driven by balanced and broad-based sales growth, while making strategic investments in our business,” said Greg Sandfort, CEO of Tractor Supply.
“As we move into 2019, we continue to build on our ONETractor strategy to provide our customers with a seamless shopping experience anytime, anywhere and in any way they choose. We remain excited about our future prospects and continue to believe we are well positioned for long-term growth and sustainable shareholder value creation,” Sandfort said.
As of Dec. 29, 2018, Tractor Supply operated 1,765 Tractor Supply stores in 49 states along with 175 Petsense stores in 26 states.