The remerchandising reduced the square footage of agriculture-related repair parts and supplies in stores and increased the amount of animal feed sold in the company's units. Tractor Supply also added more imported products and increased its number of vendors.

The company, which operates units in 32 states, plans to open 14 new stores by the end of the year. Tractor Supply has opened 38 units so far this year. During the quarter, it opened 13 units and relocated four. Company CEO James Wright said Tractor Supply will release its projected 2005 openings during its fourth quarter financial results. "The pace of change at Tractor Supply will not slow down," he said. "Our execution will improve."

Tractor Supply's third-quarter same-store sales jumped 10.1% year-over-year. Stores impacted by hurricanes posted a comparable rise of 36%. Net sales increased 18%, from $361.2 million to $426.4 million. Net income for the company's first nine months of the year was $43.1 million, up from $39.6 million during the same period in 2003.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.