Healthy Comp Print Into Spring Increases Confidence in Tractor Supply's 2019 Profitability Outlook
Narrow-moat Tractor Supply put up strong first-quarter profit, driven by 5% same-store sales growth, an above 8% total sales increase, and 26 basis points of gross margin expansion (to 33.8%). In our opinion, efforts stemming from the ONE Tractor initiatives and the Neighbors Club loyalty program (now 11 million members strong) have allowed Tractor’s merchandising prowess to improve, locally deploying inventory to locations it will turn the fastest. As the company continues to slice the rich dat...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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