Content about Tractor Supply Company

A mild spring of weather conducive to farm and ranch sales propelled Tractor Supply Corp. to a strong first quarter.

The Brentwood, Tenn.-based farm and ranch retailer saw same-store sales increase 11.5% in the first quarter ended March 31. Net sales increased 22.0% to $1.02 billion.

Net income for the quarter was $40.3 million, compared to net income of $18.3 million in the same quarter last year.

Tractor Supply has increased its estimated domestic store growth potential to 2,100 locations from a previously estimated 1,800 stores.

Jim Wright, chairman and CEO, said: “Over the past four years, we have effectively tested and validated the viability of the Tractor Supply store model in small markets. We are pleased that we are able to generate a comparable rate of return on investment in these markets, which opens up additional growth opportunities for Tractor Supply stores. We believe we have a long runway of growth ahead of us.”

Brentwood, Tenn.-based Tractor Supply Co. continued its hot streak with a fourth quarter sales increase in excess of 20%.

Net sales hit $1.24 billion for the company in the 14 weeks ended Dec. 31., up 20.1% from the 13-week period a year ago. For the full year, sales increased 16.3% to $4.23 billion.

Net income was up 40.4% to $70.5 million  for the quarter, and up 32.6% to $222.7 million for the year. 

Brentwood, Tenn.-based Tractor Supply Co. has promoted Alexander Stanton to senior VP supply chain. In his new role, Stanton will handle logistics, transportation, distribution centers, inventory management and pricing for the 1,054-store retailer.

He joined the company in 2006 as VP finance and was later named senior VP finance and strategy. In his new role, he will report to Gregory Sandfort, president and chief merchandising officer.

The Home Channel Stock Roundup shows stocks scattered across the board, with Tractor Supply and Fastenal showing the biggest annual gains.

Tax services giant H&R Block has named Home Depot's Marvin Ellison and Tractor Supply's James Wright as prospective members of its board of directors.

Ellison, 46, is Home Depot's executive VP U.S. stores. He has been with the Atlanta-based home improvement retailer since 2002, and previously held management positions with Target Corp. 

Wright, 61, is CEO of Brentwood, Tenn.-based Tractor Supply Co. He was also CEO of Tire Kingdom.

Roofers in two separate incidents in Sanford, N.C., were injured -- one fatally -- during reconstruction projects at the Tractor Supply and Lowe’s home improvement stores, according to the Fayetteville Observer and other media reports. 

Both stores are undergoing repairs after a tornado swept through town and caused major damage to the businesses on April 16.

Tractor Supply, Sherwin-Williams and Home Depot led the Home Channel Stock Roundup, with gains compared with last month and last year.

On a month-to-month basis, total housing starts moved the needle 14% in January, but single-family starts continue to drag.

Elsewhere on the Industry Dashboard for Feb. 22, retail sales for home centers, pro dealers and hardware stores showed a surge in December 2010, compared with the same month in 2009. And stocks on the Home Channel Stock Roundup showed gains across the board relative to both last month and last year.