Tractor Supply net sales up by 1.5 per cent

Tractor Supply Company, the largest rural lifestyle retailer in the United States, today reported financial results for its second quarter, which ended on 29 June 2024. Net Sales increased by 1.5 per cent to USD 4.25 bn (EUR 3.91 bn) from USD 4.18 bn in the second quarter of 2023. The report indicates that the increase in net sales was driven by new store openings, partially offset by the decline in comparable store sales.  

“We are confident that we have the right plans in place to win with our customers given the strength of our second half operational initiatives. We remain excited about the significant market share growth opportunities ahead of us as we focus on the continued creation of long-term value for our shareholders”, said Hal Lawton, President and Chief Executive Officer of Tractor Supply.  

Comparable store sales decreased 0.5 per cent, as compared to an increase of 2.5 per cent in the prior year’s second quarter, driven by a comparable average transaction count decline of 0.6 per cent, partially offset by a comparable average ticket increase of 0.1 per cent.  

The company opened 21 new Tractor Supply stores and three new Petsense by Tractor Supply stores in the second quarter of 2024.