Tractor Supply reaps a 20% sales gain in the fourth quarter
Brentwood, Tenn.-based Tractor Supply Co. continued its hot streak with a fourth quarter sales increase in excess of 20%.
Net sales hit $1.24 billion for the company in the 14 weeks ended Dec. 31., up 20.1% from the 13-week period a year ago. For the full year, sales increased 16.3% to $4.23 billion.
Net income was up 40.4% to $70.5 million for the quarter, and up 32.6% to $222.7 million for the year.
"We are delighted that we again achieved strong double-digit increases in both sales and earnings on top of last year’s record results," said Jim Wright, chairman and CEO. "Our ability to effectively manage inventory allocation and regionalization continues to reduce our exposure to weather trends and positions us to capitalize on opportunities."
In the fourth quarter, Tractor Supply same-store sales increased 7.6%. The same-store sales increase was driven primarily by continued strong results in key consumable, usable and edible (C.U.E.) products, principally animal- and pet-related merchandise, as well as various seasonal categories. Additionally, same-store sales were favorably impacted by inflation, principally in C.U.E. categories.
During fiscal 2011, Tractor Supply opened 85 new stores, relocated three stores and closed one store. At the end of the year, it operated 1,085 stores in 44 states.
Thanks you for another great
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Yes, the season is coming and
Yes, the season is coming and the trend is natural. Farmers orientate more on tractors on this time of the year. I've been thinking about the option too but since I can't afford a new tractor with or without discount I'll have rely on Lubbock classifieds, they have fine offers too this time of the year.
Lowe’s partners with NKBA for training program
Lowe’s has announced that it will partner with the National Kitchen & Bath Association (NKBA) in order to launch a program to educate and train Lowe’s employees who specialize in interior kitchen and bath projects.
Because of this membership and training program, Lowe’s employees who work in the kitchen cabinets, countertops and fashion plumbing departments and as interior project specialists will have the opportunity to earn NKBA certifications.
Eligible Lowe’s employees will now have the opportunity to take NKBA courses and exams to earn the following certifications: Associate Kitchen & Bath Designer (AKBD), Certified Kitchen Designer (CKD), Certified Bathroom Designer (CBD), and Certified Master Kitchen & Bath Designer (CMKBD). The certifications are voluntary and not required to perform the employee’s current job function. To become certified, applicants must meet minimum levels of education and experience and pass comprehensive exams.
"Lowe’s employees showcase dedication, passion and skill every day serving customers," said Scott Purvis, Lowe’s VP human resources for stores. "The new relationship with the NKBA provides more opportunities for our kitchen and bath designers to build their skill sets and help customers turn the dreams for their homes into realities."
The NKBA curriculum will include offerings in a virtual classroom environment, the joint announcement said.
"As the largest trade association representing the kitchen and bath industry, we are proud to welcome Lowe’s to our membership and include Lowe’s kitchen and bath employees in our respected and vast network of professionals," said Alan Zielinski, NKBA president.
The NKBA, which offers homeowners the ability to search for kitchen and bath designers (certified and noncertified), will now include Lowe’s stores in its listings in the United States and Canada. Lowe’s employees who receive the certifications will have updated name badges for customers to identify their certifications in-store.
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Demand for alternative decking to rise
Demand for wood-plastic composite and plastic lumber, used in decking, railing, trim and other building materials, is projected to rise 13% per year until 2015, according to a report from The Freedonia Group. Advances will be driven by a rebound in construction expenditures from a depressed 2010 base, and growth will be boosted by increasing consumer demand for building products made from composite and plastic lumber, instead of more traditional materials, such as natural wood, according to the Cleveland-based industry research firm.
Decking, which was the leading application for composite and plastic lumber in 2010, will experience the greatest increase in demand through 2015. Other growth areas will include molding and trim and windows. Demand for wood-plastic composite lumber will post more rapid gains than that for plastic lumber through 2015, advancing more than 16% annually to $2.5 billion. Gains will be driven by ongoing consumer interest in composite lumber as a substitute for natural wood products in such applications as decking and fencing. Because wood-plastic composite lumber incorporates recycled materials, it will be seen as an environmentally friendly building material.
Plastic lumber demand is forecast to rise nearly 11% per year to $2.8 billion in 2015. Gains will be spurred by rising consumer interest in the material because of its low-maintenance properties. The efforts of manufacturers to create plastic lumber with more realistic wood grain textures and surfaces will also support demand.
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