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Tractor Supply Company announced multiple growth opportunities it plans to implement through 2030, including an investment community day.
“Tractor Supply has a rich history and track record of success. Over the last five years, we have delivered strong financial performance and enhanced our competitive advantages through the execution of our Life Out Here strategy,” says Hal Lawton, president and chief executive officer of Tractor Supply. “With an expanded total addressable market of $225 billion, we have significant runway for growth. Our Life Out Here 2030 strategy continues the momentum of our existing initiatives, as well as launches new initiatives such as Pet Rx and Direct Sales. We remain steadfast in our commitment to drive sustainable growth and long-term value for our shareholders. Tractor Supply has never been stronger and the next five years are going to be very exciting.”
During the investment community days, Tractor Supply executive leadership will share progress and how the company plans to transform its business in the future. Since its last informational day, Tractor Supply has added nearly 22 million members to its loyalty program, grown its digital sales by more than 340% and opened 13 distribution facilities.
For its next investment community day, Tractor Supply plans on implementing these key initiatives:
- Localization
Tailor product selection to meet specific store demographics and regional needs to maximize relevance while remodeling store layout and adding updated features. - Direct sales opportunity
Extend customer service to attract business from larger farms, small to medium businesses and event spaces. - Pet and animal Rx
Expand capabilities to grow with pet and animal customers. - Final mile delivery
Make ordering for delivery easier and more reliable. - Retail media network
Use in-store marketing to support brand partners. - Private/exclusive brands
Increase of private label and exclusive licensed brands.
“Tractor Supply is committed to building on our longstanding track record of creating shareholder value. Capitalizing on our key competitive advantages and the ongoing strength of our current initiatives, along with investments in new growth opportunities, positions us well to continue gaining market share,” says Kurt Barton, executive vice president and chief financial officer of Tractor Supply.
Tractor Supply hopes to increase in financial aspects from now until 2030. The company aims to grow its net sales by 6% to 8%, its comparable store sales by 3% to 5% and its operating margin by 10% to 10.5%.
In 2025, Tractor Supply plans on opening 90 new stores and 10 new Petsense by Tractor Supply stores. The company updated its total addressable market to around $225 billion from $180 billion.
