Big-box home improvement chain Tractor Supply Co. has reported record earnings for its second quarter, which ended June 26.
The company’s net sales for the second quarter stood at $3.6 billion, up more than 13 percent from the same period in 2020, when the company secured $3.2 billion in sales.
In the first quarter of the year, the company reported $2.8 billion in sales, a 42 percent jump from the same period in 2020.
Comparable store sales for the second quarter 2021 increased 10.5 percent, driven by comparable transaction count and comparable average ticket growth of 4.5 percent and 6.0 percent, respectively, the company reports. Tractor Supply points to increased sales in consumables, usable and edible products alongside strong demand for spring and summer seasonal products as factors behind the sales growth.
Tractor Supply’s profit grew 11.3 percent to $1.3 billion, up from $1.2 billion in the second quarter of 2020.
Notably, the company reported its highest quarterly e-commerce sales in its history.
“For both the second quarter and first half of the year, the Tractor Supply team delivered exceptionally strong performance as we successfully managed through challenging comparisons from the prior year,” says Hal Lawton, Tractor Supply’s president and CEO. “Thank you to the more than 45,000 Tractor Supply Team Members who have done an amazing job of navigating through the pandemic. I am extremely proud of their relentless dedication to each other and our customers.”
In February, Tractor Supply announced plans to acquire Orscheln Farm and Home.