Tractor Supply fails to gain traction as energy-producing regions weigh on performance.
Narrow-moat Tractor Supply updated its full-year outlook ahead of a corporate presentation, marking the third early release for the company in 2016, indicating further softness in its end markets. We note, however, that unlike the prior two company releases that pointed to weather as the culprit in weaker sales, management noted that economic headwinds were now impacting spending, particularly across many oil producing and agricultural markets. In our opinion, the source of pressure is much more...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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