Tractor Supply offered an early view of its fourth quarter sales performance, which included a 7.6% same store sales gain.
The Brentwood, Tenn.-based farm and ranch retailer plans to release its full fourth quarter 2011 results Feb. 1, but according to CEO Jim Wright, the strong fourth quarter performance merited an update.
Net sales for the fourth quarter increased 20.1% to $1.24 billion from $1.03 billion in the prior year's fourth quarter. The fourth quarter included an extra sales week as part of the Company's 53-week calendar in 2011, which benefited fourth quarter sales by approximately 6.6%. Same-store sales increased 7.6% compared to a 13.1% increase in the prior-year period. The 7.6% increase includes an estimated 110 basis point benefit from one additional comparable sales day in the fourth quarter of 2011 versus last year.
"These results are reflective of the structural improvements we have made to our business in recent years, including a focus on C.U.E. merchandise, improved inventory management and merchandise allocation and regionalization, all of which have continued to reduce our dependence on weather trends," Wright said. "Sales growth in the fourth quarter of 2011 was driven by continued strong transaction count and a year-over-year increase in average ticket, with added tailwinds from both the 53rd week and inflation."
As of Dec. 31, Tractor Supply operated 1,085 stores in 44 states.