Tractor Supply's net sales increase by 8.3 per cent in the first quarter

US retailer Tractor Supply increased its net sales for the first quarter of 2022 (ending 26 March) by 8.3 per cent to USD 3.024 bn (EUR 2.791 bn). Comparable store sales increased by 5.2 per cent, according to the company, which is regarded as the largest rural lifestyle retailer in the United States.

Comparable store sales for the first quarter of 2022 were driven by comparable average ticket growth of 6.7 per cent and a decline in comparable average transaction count of 1.4 per cent, the company states. Comparable store sales growth reflects robust demand for everyday merchandise, including consumable, usable and edible products and strength in winter seasonal goods, partially offset by a slower start to the spring selling season. In addition, the company's e-commerce sales experienced double-digit percentage growth for the 39th consecutive quarter.

According to the quarterly report, new store openings were delayed during the quarter by lingering impacts from the pandemic and challenges facing the construction industry. The company continues to target opening approximately 75 to 80 new Tractor Supply stores in fiscal 2022.