A FARMER-FAVORITE retailer is ramping up its expansion plans, with 100 new stores to open next year.
The company will receive some help via its acquisition of a major rival, as it continues to grow and reach new heights.
The Tractor Supply Company is looking ahead, with 100 stores planned for 2026.
This will include transforming 18 of its recently purchased Big Lots stores.
There is no idea yet of where these stores will open in the US or what the timeline would be for them.
Tractor Supply’s growth is being driven by a host of new features, not just limited to new store openings.
This was confirmed by Telsey Advisory Group analyst Joseph Feldman.
Tractor Supply plans to remodel some of its existing stores and garden centers.
The retailer is also renewing its focus on pets and its loyalty program.
From a business perspective, Tractor Supply will pay close attention to its retail media business, greater private brand penetration.
This includes operational components such as an enhanced final mile delivery and the direct sales business.
Feldman said: Overall, we remain confident in Tractor Supply’s long-term strategy for Life Out Here 2030, which should drive long-term annual comp growth of 3%-5% and [earnings per share] growth of 8%-11%.”
The company just achieved its best financial quarter ever, with the second of this year seeing a rise in sales of 4.5% to $4.4 billion.
Sales growth was driven by a few primary areas, including consumable, usable and edible products.
Tractor Supply thrived on the strength of its spring seasonal goods, apparel, gifts, décor and big ticket items.
The turnabout in comparable sales strength is expected to continue for the rest of the year, executives told analysts.
In the second quarter, Tractor Supply opened 24 new stores and two under the Petsense by Tractor Supply banner.
It also closed one Petsense by Tractor Supply location.
TARIFF TROUBLE
CEO Hal Lawton said: “More customers than ever are turning to backyard poultry.”
He also claimed that this year’s sales event was the “most successful to date,” with “strong growth across both new and existing customers”.
Tractor Supply’s annual “chick days” sales event helped spur “record sales of live birds.”
This does not mean that Tractor Supply does not face its fair share of challenges, however.
Economic uncertainty and tariff pressures were named as some of the biggest concerns for the company going forward.
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