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Tractor Supply Company – The Leading Rural Lifestyle Retail Giant
Tractor Supply Company is a prominent retail chain offering rural lifestyle products in the US. The company operates around 1500 retail stores in over 49 states in the United States, employing over 23000 employees. Based in Brentwood, Tenn, the company (NASDAQ: TSCO) is the largest rural lifestyle retail store in America. It was founded in the year 1938, and initially, was a mail order catalog agency, which was offering tractor parts to the farmers in the US. Currently, it is the topmost edge retailer with over $6.2 billion of annual revenues. The stores are located in towns covering rural communities and leading metropolitan markets. The store has the inner selling space of over 15,500 sq. ft. along with the same amount of outer space.
How it started?
Charles E. Schmidt Sr. In Chicago, Illinois established the TSC in 1938 as a mail order tractor parts business. It had grown into a successful retail store Minot, North Dakota, by 1939 and the company went public in the year 1958. In 1969, the company was purchased by National Industries. Again in the year 1978, the company was acquired by Fuqua Industries and later on, during the 2000s, the chain entered the Florida market. As reported in 2002, the company’s sales reached a US$ 1 billion for the first time. Currently the company operates over 1,500 stores in 49 states.
In 2002, TSCO along with a group of four other liquidation firms purchased some of the loss of the bankrupt Quality Stores, Inc which is a Michigan-based company. At one point of time Quality stores had operated over 300 stores in 30 states under various names. Del’s Feed & Farm Supply, a farm retail chain in the Pacific Northwest and Hawaii is another subsidiary of TSCO.
Tractor Supply Company announced the acquisition of Petsense, a Growth-Oriented pet specialty retailer with 136 Stores on September 2016.
Tractor Supply has witnessed commendable growth by opening new stores and improved product offerings. The company’s mission and values are constantly motivated and inspired its team members and hence gives the organization a unified focus for the future. From operating 1,382 stores in U.S. by the end of 2014, the management has planned to expand the store base to 2,500 in the near future. The 3%-5% long-term outlook for organic growth is very robust and TSCO had a consistent track record in the past. Being the Leader in a niche market and supplying rural lifestyle products with a transparent revenue growth and capital allocation strategy added with strong margin expansion potential TSCO gives you every right reason to invest with them.
Current Status & Revenue
Currently, store is offering unique range of products to support the rural lifestyle of its customers, from generators and welders to men & women’s workwear and animal care supplies. They are also offering animal feed, pet supplies riding mowers, power tools, and garden and lawn products and so on. Each team includes farmers, welders and horse owners who provide great depth of insight and resources collectively. Tractor Supply Company keeps on growing with improved offerings and new stores. The mission and values of Tractor Supply Company inspire and motivate teammates and give unified focus to the company for the future. The product offering of the company includes Dog, Cat & Pet Supplies; Clothing/Footwear; Lawn/Garden Supplies; Trailers and accessories; heating supplies; tools and gun safes; welding supplies; fencing; power generators and lawn mowers.
According to Forbes, Tractor Supply has been looking forward to know its customers’ needs to provide something they actually want. It has become a leading lifestyle brand known for satisfying the customers. And this laser sharp focus has just paid off. It boasted 6.6% of margin in net profits of $410 million. It climbed 250% of stock price and profits of two decades over the past five years and it has made the favorite company of Wall Street.
Currently, it has 1500 locations in 49 states and the company is planning to launch over 115 stores by 2017. It has also plans to launch over 120 stores each year until it crosses 2500 stores in operation, especially in exurban and rural areas. The growth has been mostly financial with cash from operations and its prolonged debt stands at only $167 million, since 2015. Around 15% of the products are designed to each hyper-localized market.
At least one store in Kentucky may meet the demands of equestrians and another carries the products in coal country. To differentiate from leading home improvement giants, Tractor Supplies is focusing on rural customers. The strategy of the company was some science and mostly art decades ago. The company has just moved itself from art to science based operation. As a well tuned product, the rebirth of Tractor Supply is just recent and it has given the history of 78 years to the store.
How it originated?
The company was founded as a mail order tractor parts supplier in the year 1938. The first retail store of Tractor Supply Company was established in Minot, North Dakota in 1939. Tractor Supply Company is based in a suburb, Brentwood, Nashville, Tennessee. The company reported around US$1.7 billion of revenue in 2004. Tractor Supply is ranked one of 100 fastest growing companies by Fortune Magazine.
Tractor Supply Company Real Estate
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