In a quarter that saw the opening of 14 new stores, and the closing of a Del’s store, Tractor Supply reported sales of $2.02 billion.
Comp-store sales increased 2.2% for the Brentwood, Tennessee-based retailer, as net income gained 2.7% to $160.6 million, up from $156.4 million in the same quarter last year.
In addition to the store expansion, the company pointed to positive sales trend across the board. And while weather dampened the company’s first quarter performance, the skies cleared in the second.
“With favorable weather conditions, we have seen continued strong demand for spring seasonal products into the early weeks of the third quarter, and we believe we are positioned to take advantage of an extended spring selling season,” said Greg Sandfort, CEO.
He added the company continues to execute on strategic initiatives that will drive sales and customer service – one of them being interconnected retailing.
“As the connection between our stores and online presence strengthens, we see evidence that our initiatives to provide our customers one seamless shopping experience are contributing to our top line results,” he said
In the first six months, net sales increased 7.9% to $3.58 billion, with a 0.2% gain in comps. Net income declined 1.4% in the first half of the year.
As of July 1, Tractor Supply operated 1,630 Tractor Supply stores and 160 Petsense stores.