Press release
Tractor Supply Company Reports Fourth Quarter and Fiscal Year 2023 Financial Results; Provides Fiscal Year 2024 Outlook
BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States (the “Company”), today
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 (the “Company”), today reported financial results for its fourth quarter (13 weeks) and fiscal year (52 weeks) ended December 30, 2023. The comparable prior-year periods in fiscal 2022 included 14 weeks and 53 weeks, respectively.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240201460523/en/\n\nFourth Quarter Sales Performance Was in Line with the Company’s Expectations with a Comparable Store Sales Decline of 4.2%\n\n\n\nFiscal Year 2023 Net Sales Increased 2.5%; Fiscal Year Comparable Store Sales Were Even with the Prior Year\n\n\n\nFourth Quarter Diluted Earnings per Share (“EPS”) of $2.28 and Fiscal Year 2023 Diluted EPS of $10.09\n\n\n\nReturned More Than $1.0 Billion of Capital to Shareholders in Fiscal Year 2023\n\n\n\nCompany Provides Fiscal Year 2024 Diluted EPS Outlook of $9.85 to $10.50\n\n\n\n\"As we recently marked Tractor Supply’s milestone 85th anniversary, my thanks and appreciation go out to our more than 50,000 Team Members for their dedication to Life Out Here and for living our Mission and Values. While our financial performance in 2023 did not meet our initial expectations, our team successfully navigated a highly dynamic environment with agility, operational resiliency and a focus on our strategic investments. As we exit 2023, our business has never been stronger. Our healthy customer engagement, all time high customer satisfaction scores, peak productivity of our supply chain, technology enhancements and the scaled transformation of our store base all serve as proof points of the strength of our business,\" said Hal Lawton, President and Chief Executive Officer of Tractor Supply.\n\n\n\"In 2024, we will continue to invest to strengthen our competitive advantages and to capture the significant growth opportunities in our market. We believe that our business can continue to perform well in the coming years given the investments we have made in our Life Out Here strategy. We remain excited about our bright future and are committed to delivering sustained long-term value creation for our shareholders,\" said Lawton.\n\n\nFourth Quarter 2023 Results\nNet sales for the fourth quarter of 2023 decreased 8.6% to $3.6...