Business
Tractor Supply Company Reports Fourth Quarter and Fiscal 2020 Results and Increases Quarterly Dividend By 30%
BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today announced
About this update from Tractor Supply Company
[{"type":"text","content":" BRENTWOOD, Tenn.--(BUSINESS WIRE)--\nTractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today announced financial results for its fourth quarter and fiscal year ended December 26, 2020.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210128005200/en/Tractor Supply issues infographic with highlights from the Company's Fourth Quarter and Fiscal Year 2020 Financial Results. (Photo: Business Wire)\n\nCompany Achieves Record Sales and Earnings for Fiscal 2020\n\n\nFourth Quarter Net Sales Increased 31.3%; Fourth Quarter Comparable Store Sales Increased 27.3%\n\n\nFiscal Year Net Sales Increased 27.2%; Fiscal Year Comparable Store Sales Increased 23.1%\n\n\nCompany Recorded Non-Cash Pre-Tax Impairment Charges of $74.1 million, or $0.49 per diluted share after-tax, related to the Petsense Business\n\n\nFourth Quarter Diluted Earnings per Share (“EPS”) of $1.15 and Adjusted Diluted EPS of $1.641\n\n\nFiscal Year 2020 Diluted EPS of $6.38 and Adjusted Diluted EPS of $6.871\n\n\nCompany Provides Fiscal 2021 Diluted EPS Outlook of $6.50 to $6.90\n\n\nBoard of Directors Increases Quarterly Dividend by 30% to $0.52 per share\n\n\n1 See “Use and Reconciliation of Non-GAAP Financial Measures” below.\n\n“We are incredibly proud of all the Tractor Supply team achieved in 2020 including record sales and operating performance for the year. My thanks and appreciation go out to the team for their support of each other, our customers and our longstanding commitment to the rural lifestyle. Our team remained agile in a challenging operating environment as we experienced unprecedented demand and welcomed a record number of new and reengaged customers to Tractor Supply,” said Hal Lawton, Tractor Supply’s President and Chief Executive Officer. “The team has done an exemplary job operating the business at elevated rates in the midst of a global pandemic, all while laying the foundation for our Life Out Here Strategy. Going forward, we believe our resilient business model with a differentiated and loyal customer base, our strategic investments to capture growth opportunities and the strength of our balance sheet position us to capitalize on the momentum in our business in 2021 and beyond.”\n\nLawton continued, “The 30% increase in our quarterly divi...