Hardware Retailing The Industry's Source for Insights and Information
Tractor Supply Co. is reporting $2.8 billion in first-quarter sales, a 42.5 percent jump from the same period in 2020.
Previously, the company reported $2.8 billion in fourth-quarter 2020 sales and net sales of $10.6 billion for the year.
In total, gross profit stood at $983.8 million for the company, a 48 percent increase from one year ago. Comparable store sales grew 38.6 percent in the first quarter. Comparable average transaction count and ticket size rose 21 percent and 17.6 percent, respectively. Comps growth was backed by strength in demand for seasonal categories as well as everyday merchandise, including consumable, usable and edible products.
Notably, the company reported its fourth consecutive quarter of triple digit e-commerce sales increases.
“The Tractor Supply team delivered an exceptionally strong start to the year, and our comparable store sales growth exceeded our expectations. This record performance was achieved by the more than 42,000 Tractor Supply team members who are committed to taking care of each other and our customers as the dependable supplier of the Out Here lifestyle,” says Hal Lawton, Tractor Supply’s President and CEO.
The company opened 21 Tractor Supply stores and two Petsense stores in the first quarter of the year. However, it also closed seven Petsense stores in the first quarter of 2021. As of Mar 27, the company operated 1,944 Tractor Supply stores across 49 states and 177 Petsense stores in 23 states. The company plans to open an additional 81 Tractor Supply stores in the remainder of the year.
Earlier this year, the company announced plans to acquire Orscheln Farm and Home.
