Tractor Supply has many admirers, including hardware store owners looking to learn how they might expand into the farm-and-ranch business—the core competency of the Brentwood, Tenn.-based retailer. The 676-store Tractor Supply is an underrated powerhouse in traditional home product retailing, as well, with an estimated $1.2 billion in home channel sales.
“Our job is to be in constant motion, so that when the competition gets where we were last year, we are someplace else,” said CEO Jim Wright. “But it’s very important to stay focused on our core business.” That recipe is proving successful. Faced with difficult macroeconomic conditions in 2006, total sales grew 14.6 percent to $2.4 billion, as net income grew 6.2 percent. Wright accepted the Retail Partner of the Year award on behalf of the company’s 10,500 team members.