Tractor Supply Merchandising Supports Store Traffic, Boosting Sales While Investments Hinder Profits
Narrow-moat Tractor Supply remains an anomaly in retailing, keeping customer traffic driving to stores thanks to its differentiated product and category mix (31% in private label sales). While we suspect investors were disappointed that Tractor’s 2019 forecast called for same-store sales of 2%-4% after generating three quarters of above 5% performance, we believe this outlook is pragmatic and takes into account the type of growth that consumer companies encounter after a long period of economic ...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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