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06/07/2022

Tractor Supply forecasts strong Q2 sales

The retailer continues to roll out new Garden Centers along with more features for its mobile app.
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Tractor Supply New York

Tractor Supply Company has released an outlook for its second quarter ending June 25, 2022. 

The Brentwood, Tenn.-based farm and ranch lifestyle retailer forecasts net sales growth of 8% and comparable store sales growth of 5% as compared to the second quarter of fiscal 2021. 

The company said it provided the financial update in advance of presenting at Baird’s Global Consumer, Technology and Services Conference on June 7 along with its Annual Sales Meeting in early July 2022. The latter will be attended by nearly 3,000 Tractor Supply Team Members.

“Tractor Supply is on track to deliver record results in the second quarter on both sales and earnings,” said Hal Lawton, Tractor Supply president and CEO. “As we moved through April and the weather has normalized, we have experienced strong sales of our seasonal products. The strength of our needs-based, demand-driven business continues as the team is effectively managing inventory levels, inflationary costs, and pressures across the global supply chain.”

Tractor Supply’s presentation at the Baird Conference will be webcast at 7:55 a.m. Eastern Time on June 7, 2022 and can be accessed live or as an archived replay for 90 days at IR.TractorSupply.com. Lawton and CFO and Kurt Barton will be presenting at the conference.

“When our customers need solutions for their Out Here lifestyle, they think of Tractor Supply,” Lawton said. “We continue to look for ways to better serve our customers through an ever-expanding product offering like our Garden Centers or the personalization of how our customers interact with us digitally.”

The CEO also pointed to the upcoming introduction of the retailer’s ‘My Pet’ mobile app personalization, which will allow Tractor Supply to offer a differentiated digital shopping experience across 3 million-plus downloads of its app. 

Additionally, the company has rolled out 200 Garden Centers in recent months.

“These initiatives are great examples of how we are able to continue to capture growth opportunities ahead of us,” Lawton said.

As of At March 26, Tractor Supply operated 2,003 stores in 49 states along with 178 Petsense stores in 23 states.

 

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