Tractor Supply earnings beat Wall Street expectations

By RANDY MCCLAIN • Business Editor • July 24, 2008 Tractor Supply, the Brentwood-based retail chain that caters to small farmers, ranchers and the rural lifestyles of other consumers, reported that profits and sales rose in the second quarter. Results beat Wall Street expectations. Total sales increased 13.6 percent to $898.3 million compared with a year earlier. Same-store sales increased 3.4 percent in the quarter, the company said. Profits reached $47 million, or $1.24 per share, compared with $43.8 million, or $1.08 per share, a year ago in the second quarter. April through June is traditionally the strongest period for Tractor Supply, in part because of warmer weather and more farm or outdoor activity. Freight expenses rose Jim Wright, chairman, president and CEO, said the quarter was a solid one, although freight... [read full story]