Tractor Supply sees double-digit sales gain
Tractor Supply celebrated its 21st consecutive quarter of year-over-year same-store transaction count increases on its way to a double-digit sales gain for the three-months ended June 29.
The Brentwood, Tenn.-based farm and ranch giant posted second-quarter sales of $1.46 billion, up 12.7% from $1.29 billion a year ago. Net income for the quarter rose 15.9% to $123.6 million, up from $106.6 million.
Same-store sales across the chain increased 7.2%, compared with a 3.2% increase in the same quarter last year. The gains came across the company's key products, described as CUE -- consumable, usable and edible.
Tractor Supply opened 48 new stores so far this year, a slighly slower pace than the first half of 2012.
"Our performance in the first half of 2013 again demonstrated the continued strength of our core businesses, as well as our ability to manage through seasonal variances," said CEO Greg Sandfort.
As of June 29, the company operated 1,223 stores in 45 states.