ONETractor Efforts Continues to Drive Traffic to Tractor Supply, Leading to Improved Profitability
Narrow-moat Tractor Supply remains one of retail's most stable business models, helped by product differentiation (exclusive brands represent more than 30% of sales) and relatively insulated from Amazon given its idiosyncratic product mix (the livestock and pet segment make up about half of sales). With the ability to pursue square footage growth as the namesake store base expands to 2,400 from around 1,700 over the next decade, we believe Tractor Supply could post some of the best top-line incr...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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