Cold Start to Spring Doesn’t Deter Tractor Supply From Capturing Growth; Shares Undervalued
Narrow-moat Tractor Supply released solid first-quarter results despite a spring that has yet to arrive across many of its geographies, capitalizing on an increasingly nimble supply chain to keep cold weather gear in the network where appropriate. Moreover, this implies that spring sales remain postponed in many areas, potentially leading to a warm weather season that is compressed into the second quarter, and leading to around 3% comps, similar to first quarter comp store sales of 3.7%. The fir...Tractor Supply is a rural lifestyle retailer. The company is focused on supplying the needs of recreational farmers, ranchers and all those who enjoy living the rural lifestyle, as well as tradesmen and small businesses. The company operates retail stores under the names Tractor Supply Company, Del's Feed & Farm Supply, and Petsense and operates websites under the names TractorSupply.com and Petsense.com. The company's selection of merchandise is comprised of the following main product categories: equine, livestock, pet, and small animal products; hardware, truck, towing, and tool products; seasonal products; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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