Company Snapshot: Home Tractor Supply Center
200 Powell Pl.
Total Store Count:
Total square footage:
Total Annual Sales:
$ 4,232,743,000; December 31, 2011
We all know the toll that has been taken on the denizens of this industry first by the subprime scandal and than by the recession. This industry has been hit harder than most, especially in retailing. While a few retail categories such as dollar stores, have actually expanded since the recession began, this industry has few members that can show much more than staying the course and riding out grim economic times especially in terms of store expansion.
A top company in Chain Store Guide’s database of Home Center Operators & Hardware Chains, Tractor Supply’s performance has stood out in this subprime beleaguered industry with its recession defying financial performance and continued aggressive expansion plans.
During the past decade Tractor Supply has never failed to record an increase in annual sales. These figures ranged from just over three quarters of a billion dollars in December, 2000 to exceed $3.6 billion as of December, 2010. The financials for December 2011 again reflected the company’s unflinching growth as net sales increased 16.3% to $4.23 billion from $3.64 billion in fiscal 2010. Same-store sales increased 8.2% compared to a 7.0% increase in fiscal 2010. Gross margin increased 16.9% to $1.41 billion, or 33.2% of sales, compared to $1.20 billion, or 33.1% of sales for fiscal 2010.
More impressive, over the past six years the company has grown its sales from just over $2 billion. This period essentially coincides with the early fallout from the subprime mess through the current roller coaster ride of the recession with the threat of a double dip. During this time of national, then international financial crises, Tractor Supply’s weakest annual sales increase was just over eleven percent, during fiscal 2008.
During this same challenging six year period, the company grew its store base by over eighty two percent, from 595 locations to 1085 by the end of fiscal 2011. Amazingly during the first quarter of 2012 Tractor Supply increased its store count by 32 to 1,117. This aggressive growth comes at a time when monthly national economic indicators progressively reflect a hopeful but uncertain economic future.