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National & World Ag News Headlines |
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Tractor Supply Co. Reports Higher Quarterly Sales
USAgNet - 10/25/2021
Tractor Supply Company reported financial results for its third quarter ended September 25.
"The third quarter marks our sixth consecutive quarter of double-digit comparable store sales growth. We are once again very pleased with the overall performance of our business, which exceeded our expectations. Our outstanding results are indicative of the
hard work and dedication of the more than 45,000 Team Members of Tractor Supply who are successfully navigating the challenging and ever-changing external environment," said Hal Lawton, Tractor Supply's President and Chief Executive Officer. "Over 18
months into the pandemic, our business has never been stronger. Our growth continues to be robust. Our customer trends remain structurally sound."
Net sales for the first nine months of 2021 increased 21.6% to $9.41 billion from $7.74 billion in the first nine months of 2020. Comparable store sales increased 18.5% versus a 21.5% increase in the first nine months of 2020.
Gross profit increased 21.4% to $3.36 billion from $2.77 billion, and gross margin was 35.7% in the first nine months of 2021 and 2020.
During the first nine months of 2021, the company opened 44 new Tractor Supply stores and six new Petsense stores and closed 11 Petsense stores.
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