Farmers and ranchers can gear up for more than just a tractor pull at Tractor Supply Company (TSC). Besides providing agricultural machine parts, the farm and ranch supply retailer offers animal feeds, fencing, power tools, riding mowers, and work clothing, as well as tools for gardening, irrigation, welding, and towing. TSC offers both name-brand merchandise and its own stable of private-label goods. It operates about 1,085 stores in some 45 states under the Tractor Supply Company and Del's Farm Supply banners. Stores are concentrated in rural areas and near large cities to cater to full- and part-time farmers, ranchers, and contractors. TSC, which also operates a growing online business, was founded in 1938.
Already the largest farm and ranch supply chain in the nation, TSC has rapidly expanded its retail footprint in recent years and will continue to do so in the future. In 2011 the chain added about 85 stores and posted strong financial results. Indeed, sales topped $4.2 billion, an increase of about 16% vs. 2010. Same-store sales (generally considered the best indicator of a retail chain's health) rose more than 8% and net income jumped nearly 33% during the same period.
Ultimately, the company aims to operate some 1,300 Tractor Supply stores nationwide. It has already identified more than 800 new markets for potential stores and is open to acquisition opportunities. Meanwhile, TSC has stemmed the growth of Del's Farm Supply while working to refine its retail concept. With only about 25 Del's stores in the Pacific Northwest and Hawaii, TSC opted not to add any new locations in 2010 or 2011. To capitalize on the rebound in the farm and general retail economy, TSC is working to add up to 95 new stores in 2012. – less