Tractor Supply turns up expectations for fiscal 2010
Brentwood, Tenn.-based retail farm and ranch store Tractor Supply increased its sales and earnings expectations for fiscal year 2010 ended Dec. 25.
Due to strong quarter-to-date sales trends, the company has updated its year-end sales guidance to $3.57 billion to $3.59 billion compared with its previous expected range of $3.53 billion to $3.55 billion.
The company also expects net income per diluted share to range from $2.16 to $2.19 compared with its previous guidance of $2.09 to $2.13, which reflects a two-for-one stock split that took effect on Sept. 2.
“We are delighted with our fourth-quarter performance to date and believe we are well positioned to deliver on our plan in the final key selling weeks. Our sales growth in the quarter is being driven by continued strong transaction count and a year-over-year increase in average ticket,” said Jim Wright, chairman and CEO of Tractor Supply. “Customers are responding very well to our broad selection of products, particularly heating, animal and pet-related merchandise.”
The company will release its fourth-quarter and year-end results after the market close on Wednesday, Jan. 26, 2011.