Press release
Tractor Supply Company Reports Record Fourth Quarter and Fiscal Year 2022 Financial Results; Provides Robust Fiscal 2023 Outlook
BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today reported record
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 reported record financial results for its fourth quarter (14 weeks) and fiscal year (53 weeks) ended December 31, 2022.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230125005793/en/\n\nCompany Delivered Strong Fourth Quarter Net Sales Increase of 20.7% and Comparable Store Sales Increase of 8.6% Driven by Both Ticket and Transaction Growth\n\n\nFiscal Year Net Sales Increased 11.6%; Fiscal Year Comparable Store Sales Increased 6.3% with Continued Market Share Gains Across Product Categories\n\n\nFourth Quarter Diluted Earnings per Share (“EPS”) Increased 25.9% to $2.43 and Fiscal Year 2022 Diluted EPS Increased 12.8% to $9.71\n\n\nReturned $1.11 Billion of Capital to Shareholders in Fiscal Year 2022\n\n\n“Tractor Supply had another remarkable year in 2022 as we continued to gain market share and advance our strategic initiatives. For the fourth quarter, while we had an incremental benefit from the late December winter storm, our underlying results were at the high end of our expectations. Our strong results throughout 2022 are directly attributable to the dedication of the more than 50,000 Tractor Supply Team Members who are passionate about Life Out Here. The team achieved significant milestones in the history of Tractor Supply including record sales and profitability and executed meaningful investments to enable future growth. In just over two years since introducing our Life Out Here strategy, we have executed Project Fusion in nearly 30% of our store base, built more than 300 garden centers, expanded our digital and supply chain capabilities and grown our Neighbor’s Club membership 47% to more than 28 million members. These investments are resonating with our customers as we exited the year with strong traffic growth,” said Hal Lawton, Chief Executive Officer of Tractor Supply.\n\nLawton continued, “Tractor Supply’s needs-based, demand-driven business model has stood the test of time with consistent and sustainable growth. As we celebrate our 85th anniversary this year, our future couldn’t be brighter. With a solid foundation, we plan to build on our momentum in 2023. We believe we have the right strategies to manage thro...