Company Snapshot: Tractor Supply Co.
Tractor Supply Co.
200 Powell Place
Brentwood, TN 37027-7514
Total Annual Sales:
Cynthia T Jamison: Chairman
Gregory A. Sandfort: President, CEO
Tractor Supply is embedded in a retail industry that has overall been hit harder than virtually any by the forces of the recession, on the heels of the subprime fiasco. It must be noted that the industry segment in which Tractor Supply resides, Farm & Home, has managed to basically stay afloat while all other industry market segments have suffered mightily from the disastrous conditions brought about by an economy which all but stopped new home building and saw many consumers exiting relatively new dwellings, which were deemed to be suffocating ‘under water’.
Even within the industry’s impressive Farm & Home segment, Tractor Supply has grown as no other, both financially and in terms of a recession-busting store expansion. After a decade of consistent, methodical growth in the 1990’s, Tractor Supply reached the billion dollar mark in annual sales in 2002. Actually, in that year sales rose to just over $1.2 billion, from a previous high of just under $850 million, an increase of 42 percent. Sales for 2013 came in at an impressive, though unsurprising $5.2 billion.
Tractor Supply’s annual sales have paralleled corporate store expansion. At the end of 2002, the company operated 425 stores. By the end of 2013, Tractor Supply boasted a total of 1,276 locations and counting, as can be seen in the number listed above. Through the years of the current century, the company’s smallest annual store increase was a comfortable 27, back in pre-recessionary 2003. The smallest recessionary increases came in at 75 during 2009, followed by an expansion of 71 for 2010.
Though Tractor Supply is prominently centered in an industry that is still often thought to be run as an ‘old boys network’, the company board recently elected Cynthia T Jamison to the post of Chairman.