Tractor Supply Sets Expansion Plans with 80 New Stores, Beats Earnings Expectations Despite Sales Slump in Q4
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Tractor Supply Company (NASDAQ:TSCO) reported a fourth-quarter FY23 sales decline of 8.6% year-on-year to $3.66 billion, marginally missing the consensus of $3.67 billion. Adjusted EPS of $2.28 beat the Wall Street view of $2.22.
Comparable store sales decreased by 4.2%, driven by a comparable average ticket decline of 1.5% and a comparable average transaction count decrease of 2.7%.
Gross profit decreased 5.2% to $1.29 billion from $1.36 billion in the prior year. Gross margin expanded 129 basis points to 35.3% from 34.0% for …
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