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Tractor Supply Company

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Tractor Supply Company
Company typePublic
IndustryRetail
Founded1938; 86 years ago (1938)
Minot, North Dakota, U.S.
Headquarters
Brentwood, Tennessee
,
U.S.
Number of locations
1,844
Area served
49 U.S. states[1]
Key people
Hal Lawton - President and CEO
ProductsClothing & Footwear, Dog, Cat & Pet Supplies, Trailers & Accessories, Lawn and Garden Supplies, Propane & Heating Supplies,Tools & Gun Safes, Fencing, Welders & Welding Supplies, Lawn Mowers & Power Generators, etc
RevenueIncreaseUS$ 8.352 billion (2019)
IncreaseUS$ 743.2 million (2019)
IncreaseUS$ 562.4 million (2019)
Total assetsIncreaseUS$ 5.289 billion (2019)
Total equityIncreaseUS$ 1.567 billion (2019)[2]
Number of employees
32,000[3] (2019)
Websitetractorsupply.com
A Tractor Supply Co. location in Springboro, Ohio

Tractor Supply Company (TSCO) is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, livestock, equine and pet care.

History

Interior of a Tractor Supply Company store in East Tawas, Michigan.

Founded as a mail order tractor parts business in 1938, the first Tractor Supply Co. retail store was founded in 1939 in Minot, North Dakota. From 1998 to 2002, George Strait was the spokesman for Tractor Supply. Tractor Supply is headquartered in Brentwood, Tennessee, a suburb of Nashville.[4]

In 2004, when the company reported revenues of more than US$1.7 billion, Fortune magazine named Tractor Supply to its list of the 100 fastest growing businesses.[4] As of December 29, 2019, Tractor Supply Company operated 1,844 stores in 49 states.[5]

On October 10, 2013, the company celebrated its 75th anniversary by ringing the opening bell at the Nasdaq stock exchange in New York.[6]

On September 4, 2018, the company celebrated its 80th anniversary by ringing the closing bell at the Nasdaq Stock Exchange in New York.[7]

The company's 1,700th store opened in March 2018.

On September 9, 2019, it was announced that the company has 1,800 stores in operation.

On March 24, 2020, Tractor Supply started its own animal facts department and is available 24 hours a day.[8]

Products

Tractor Supply lists five major product categories. The livestock and pet products category accounted for 47 percent of the company's sales in 2019.[9] The category with the second highest sales was hardware, tools, truck and towing products, with 21 percent of sales. Seasonal products such as lawn and garden equipment, gifts and toys were 20 percent of sales, followed by clothing and footwear with 8 percent and agricultural products with 4 percent of sales.[10]

Marketing

The company has conducted advertising campaigns featuring the slogan "The Stuff You Need Out Here."[4] Tractor Supply's mission statement is: "To work hard, have fun and make money by providing legendary service and great products at everyday low prices."[11]

Acquisitions and subsidiaries

In September 2016, Tractor Supply Company acquired Petsense, LLC, a leading small-box specialty retailer of pet supplies primarily located in small and mid-size communities.[12] In 2002, TSC was part of a group (also including four liquidation firms) that purchased some of the leases of the bankrupt Quality Stores, Inc.,[13] a Michigan-based company which at one time had operated over 300 stores in 30 states under the names CT Farm & Country; Country General; Quality Farm & Fleet; County Post; Central Farm and Fleet, and FISCO. The company also owns Del's Feed & Farm Supply, a farm retail chain in the Pacific Northwest and Hawaii[14], with all but two Del's stores having been converted into Tractor Supply stores.[15]

TSC Stores L.P. (Canada)

Although also operating under the name TSC, this company is not currently affiliated with the U.S. operation of Tractor Supply Company and is Canadian owned and operated.[16] TSC Stores L.P. operates stores in Ontario. The company retails automotive, animal care, home improvement, and tooling and welding products; clothing collections, footwear, and toys; and farming, fencing, hunting and fishing, outdoor living, pet and birding, and outdoor power equipment. It also serves customers online. The company was founded in 1966 and is based in London, Ontario. As of July 18, 2016, TSC Stores L.P. has been operating as a subsidiary of Peavey Industries LP.

In November 1966, TSC opened its first Ontario location in London. In 1987, when there were ten Ontario locations, the American parent company sold these locations to the Birch Hill investment company. Prior to July 2016, there were 51 corporate-owned TSC stores in Ontario, mostly in the southwest, as well as two stores in Manitoba (Winkler and Brandon).

From 2007 to 2009, TSC Stores was title sponsor of The Dominion Tankard curling championship in Southern Ontario.

In July 2016, the owner of the Peavey Mart chain bought a controlling interest in TSC Stores L.P from Birch Hill Equity Partners; full ownership will be achieved during 2017. With TSC's 51 retail stores added in, Peavey Mart will control 93 stores in total, as well as a second distribution centre located in London, Ontario. TSC's two Manitoba stores have been rebranded as Peavey Marts.[17] TSC's Ontario stores will continue to operate under the TSC brand.[18]

References

  1. ^ Pulman, Alecia; Fraser, Brittany (October 28, 2014). "Tractor Supply Company Enters Utah Market". MarketWatch. Retrieved June 24, 2019.
  2. ^ http://d18rn0p25nwr6d.cloudfront.net/CIK-0000916365/fe817f63-343a-4fe7-9ebf-ba9313092d9b.pdf
  3. ^ http://d18rn0p25nwr6d.cloudfront.net/CIK-0000916365/fe817f63-343a-4fe7-9ebf-ba9313092d9b.pdf
  4. ^ a b c Rhoades, Emily B.; Irani, Tracy (2008). ""The Stuff You Need Out Here": A Semiotic CaseStudy Analysis of an Agricultural Company's Advertisements". Journal of Applied Communication Research. Retrieved June 24, 2019.
  5. ^ https://corporate.tractorsupply.com/newsroom/news-releases/news-releases-details/2020/Tractor-Supply-Company-Reports-Fourth-Quarter-and-Fiscal-2019-Results-Provides-Fiscal-2020-Financial-Outlook/default.aspx
  6. ^ Barna, Christine (October 9, 2019). "Tractor Supply Company [TSCO] to Ring The NASDAQ Stock Market Opening Bell in Celebration of the Company's 75th Year Anniversary". Nasdaq (Press release). Retrieved September 14, 2019.
  7. ^ "Tractor Supply Company Celebrates 80th Anniversary of Operations with Nasdaq Closing Bell Ceremony". GlobeNewswire (Press release). September 4, 2018. Retrieved September 14, 2019.
  8. ^ Wilson, Marianne (September 9, 2019). "Tractor Supply hits a store milestone". chainstoreage.com. Retrieved September 14, 2019.
  9. ^ http://d18rn0p25nwr6d.cloudfront.net/CIK-0000916365/fe817f63-343a-4fe7-9ebf-ba9313092d9b.pdf
  10. ^ "Tractor Supply Company 10-K SEC filing". U.S. Securities and Exchange Commission. January 27, 2018. Retrieved June 24, 2019.
  11. ^ https://corporate.tractorsupply.com/company-overview/mission-and-values/default.aspx
  12. ^ "Tractor Supply Company Announces Acquisition of Petsense, a Growth-Oriented Pet Specialty Retailer With 136 Stores". Yahoo! Finance. September 29, 2016. Retrieved June 24, 2019.
  13. ^ Forrester, Brian (May 13, 2002). "Tractor Supply plows Quality row to growth". Nashville Business Journal. Retrieved June 24, 2019.
  14. ^ "Del's Feed and Farm Supply". Tractor Supply. Retrieved June 24, 2019.
  15. ^ https://corporate.tractorsupply.com/company-overview/company-profile/default.aspx
  16. ^ "About TSC". TSC Stores. Retrieved June 24, 2019.
  17. ^ "About Peavey Mart". Peavey Mart. Retrieved June 24, 2019.
  18. ^ "Peavey Industries Acquisition of TSC Stores". YouTube. October 5, 2016. Retrieved June 24, 2019.

Further reading

  • Eddy, Nelson (2004). Work hard, have fun, make money: the Tractor Supply story. Brentwood, Tenn.: Tractor Supply Co. ISBN 0976106604.
Wikimedia Commons has media related to Tractor Supply Company.
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