Tractor Supply Reports Results

Tractor Supply Company has reported net sales for the first quarter of 2022 increased 8.3% to $3.02 billion from
$2.79 billion in the first quarter of 2021.

 Comparable store sales increased 5.2%, as compared to an increase of 38.6% in the prior year’s first quarter. Comparable store sales for the first quarter of 2022 were driven by comparable average ticket growth of 6.7% and a decline in comparable average transaction count of 1.4%. 

Gross profit increased 7.4% to $1.06 billion from $983.8 million in the prior year’s first quarter, and gross margin decreased 29 basis points to 34.9% from 35.2% in the prior year’s first quarter. 

The company reported that price management actions and other margin driving initiatives were able to offset the majority of the impact from significant product cost inflation pressures and higher transportation costs.  s