Tractor Supply posts strong quarter
Tractor Supply sales increased 6.4% in the first quarter to $1.09 billion, up from $1.02 billion in the year-ago period.
Same-store sales increased 0.5% compared with a very strong 11.5% increase in the prior-year period, when an early spring boosted sales by about $38 million.
Net income for the quarter was $44.0 million, up 9.2% compared with net income of $40.3 million last year.
"While weather was not as favorable as a year ago, we planned accordingly and are pleased to have generated a same-store sales increase compared to last year’s very strong 11.5% increase," said Greg Sandfort. "Our C.U.E. (consumable, usable and edible) categories again posted solid increases in both sales and units, and contributed to our 20th consecutive quarter of year-over-year transaction count increases."
The company opened 22 new stores in the first quarter of 2013 compared with 33 new store openings in the prior year’s first quarter. It now has 1,197 stores in 45 states.
Q1 sales up 22.5% for Lumber Liquidators
Expressing confidence in the year ahead, Lumber Liquidators posted a net sales increase of 22.5% for the quarter ended March 31.
The Toano, Va.-based hardwood flooring retailer reported first-quarter net sales of $230.4 million, up from $188.0 million in the same quarter last year. Comparable-store sales increased 15.2% for the quarter.
Net income increased 92.5% to $15.8 million in the first quarter of 2013 from $8.2 million in the first quarter of the prior year.
The sales were driven by equivalent percent increases in the number of customers invoiced and the average sale, the company said. Lumber Liquidators opened The company opened five new stores in the first quarter, bringing its total store count to more than 290.
Also during the quarter, the company opened its first "store of the future" format. These stores feature an expanded showroom. "We are pleased with the performance to date," said Robert Lynch, president and CEO.
The company raised its expectations for comparable-store sales from the previous range of mid-single digits to the "mid to high-single digits." It plans to open 25 to 35 new stores in 2013.
Lynch added: "As we move forward, we believe we are well-positioned to further expand our footprint and deliver multi-year expansion of our net sales and operating margin,"
Harley-Davidson rides into home improvement
Craftsman and Harley-Davidson have teamed to produce co-branded, special-edition tool storage products available now in Sears stores and online.
As part of the partnership, Craftsman — the tool brand owned by Sears Holdings — has been named the official hand and power tool sponsor of the Harley-Davidson 110th Anniversary Celebration.
"Working with Harley-Davidson is a natural association for the Craftsman brand," said Michael Castleman, president, Kenmore, Craftsman and DieHard and senior VP, Sears Holdings. "With similar roots steeped in the heart of the American garage, we share the passion for the ingenuity and freedom that drive our customers. Together, we are leveraging marketing, community and product assets to broaden the reach of our great brands, including outreach to both the Craftsman Club and Harley Owners Group."
Three special-edition Craftsman/Harley-Davidson co-branded tool storage units are available now. All units feature a black frame, official Harley-Davidson "vintage orange" drawer fronts and official Harley-Davidson decaling, including the Harley-Davidson bar and shield. They range in price from $80 for a portable storage chest to $1,400 for an 18-drawer heavy-duty combo unit.