BRENTWOOD, Tenn.– Tractor Supply Company, the largest rural lifestyle retailer in the United States, today provided an outlook for the second quarter ending June 25, 2022. The Company is providing this financial update in advance of presenting at Baird’s Global Consumer, Technology and Services Conference tomorrow morning and at its Annual Sales Meeting in early July 2022, attended by nearly 3,000 Tractor Supply Team Members.
While there is still a significant portion of the second quarter of fiscal 2022 ahead, Tractor Supply currently forecasts net sales growth of 8% and comparable-store sales growth of 5% as compared to the second quarter of fiscal 2021. Diluted earnings per share for the second quarter of fiscal 2022 are forecasted to be $3.48 or greater.
“Tractor Supply is on track to deliver record results in the second quarter on both sales and earnings. As we moved through April and the weather normalized, we experienced strong sales of our seasonal products. The strength of our needs-based, demand-driven business continues as the team is effectively managing inventory levels, inflationary costs, and pressures across the global supply chain. We believe we are well positioned to have a strong second quarter,” said Hal Lawton, Tractor Supply’s President and Chief Executive Officer.
Lawton continued, “When our customers need solutions for their Out Here lifestyle, they think of Tractor Supply. We continue to look for ways to better serve our customers through an ever-expanding product offering like our Garden Centers or the personalization of how our customers interact with us digitally. We have successfully completed over 200 Garden Centers at our stores, and our customers’ early response has been very exciting. The upcoming edition of the ‘My Pet’ mobile app personalization will allow us to offer a differentiated digital shopping experience across the 3 million-plus app downloads. These initiatives are great examples of how we are able to continue to capture growth opportunities ahead of us.”
The Company’s presentation at the Baird Conference will be webcast at 7:55 a.m. Eastern Time on Tuesday, June 7, 2022, and can be accessed live or as an archived replay for 90 days at IR.TractorSupply.com. Hal Lawton, Chief Executive Officer, and Kurt Barton, Chief Financial Officer, will be presenting at the conference.
The Company will release its second-quarter 2022 earnings news release before the market opens on Thursday, July 21, 2022. The Company will hold its second quarter 2022 earnings conference call that day at 10:00 a.m. Eastern Time.
This event will be webcast live at IR.TractorSupply.com. Supplemental materials will be available at least fifteen minutes prior to the start of the conference call.
About Tractor Supply Company
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, targeting the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle, for more than 80 years.
Tractor Supply offers an extensive mix of products necessary to care for homes, land, pets, and animals with a focus on product localization, exclusive brands, and legendary customer service for the Out Here lifestyle. With more than 46,000 Team Members, the Company’s physical store assets, combined with its digital capabilities, offer customers the convenience of purchasing products they need anytime, anywhere, and anyway, they choose at the everyday low prices they deserve. On March 26, 2022, the Company operated 2,003 Tractor Supply stores in 49 states, a customer mobile app, and an e-commerce website at www.TractorSupply.com.
Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services. On March 26, 2022, the Company operated 178 Petsense stores in 23 states. For more information on Petsense, visit www.Petsense.com.