Tractor Supply Company

Tractor Supply Company
Public
Traded as
Industry Retail
Founded 1938
Headquarters Brentwood, Tennessee, U.S.
Number of locations
 1,750
Area served
 49 U.S. states[1]
Key people
 Gregory A. Sandfort - CEO
Products Clothing & 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.[2]
Revenue IncreaseUS$ 7.256 billion (2017)
DecreaseUS$ 686.4 million (2017)
DecreaseUS$ 422.6 million (2017)
Total assets IncreaseUS$ 2.869 billion (2017)
Total equity DecreaseUS$ 1.419 billion (2017)
Number of employees
 29,300[3]
Website www.tractorsupply.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, and livestock, equine and pet care. It is a leading U.S. retailer in its market.[4]

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 Company. TSC 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 March 31, 2018, Tractor Supply Company operated 1,700 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]

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

Products

Tractor Supply lists five major product categories. The livestock and pet products category accounted for 47 percent of the company's sales in 2017. The category with the second highest sales was hardware, tools, truck and towing products, with 22 percent of sales. Seasonal products such as lawn and garden equipment, gifts and toys were 19 percent of sales, followed by clothing and footwear with 8 percent and agricultural products with 4 percent of sales.[7]

Marketing

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

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.[8] 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.,[9] 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.[10]

TSC Stores L.P. (Canada)

Although also operating under the name TSC, this company is not currently affiliated with the US operation of Tractor Supply Company and is Canadian owned and operated.[11] 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, Canada. 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.[12][13] With TSC's 51 retail stores added in, Peavey Mart will control 87 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.[14] TSC's Ontario stores will continue to operate under the TSC brand.[15]

References

  1. ↑ "Tractor Supply Company Enters Utah Market". Market Wire. NASDAQ.com. 2014-10-28.
  2. ↑ Link Tractor Supply Website - About Us.
  3. ↑ "Tractor Supply Company 10-K SEC filing".
  4. 1 2 3 4 Rhoades, Emily B.; Irani, Tracy (2008). ""The stuff you need out here": A semiotic analysis case study of an agricultural company's advertisements". Journal of Applied Communications. 92 (3–4). ISSN 1051-0834.
  5. ↑ "Tractor Supply Company Reports First Quarter Results". TractorSupply.com. Retrieved 27 April 2017.
  6. ↑ "Tractor Supply Co. execs ring in company's 75th year". The Tennessean. October 11, 2013.
  7. ↑ "Tractor Supply Company 10-K SEC filing". SEC.gov.
  8. ↑ "Tractor Supply Company Announces Acquisition of Petsense, a Growth-Oriented Pet Specialty Retailer With 136 Stores". Finance.Yahoo.com.
  9. ↑ Forrester, Brian (May 12, 2002). "Tractor Supply plows Quality row to growth". Nashville Business Journal.
  10. ↑ Company Profile, Del's Feed & Farm Supply website
  11. ↑ TSC Stores. TSC Stores L.P. 2017 http://www.tscstores.com/AboutUs.aspx?section=abouttsc. Retrieved January 8, 2017. TSC Stores in a Canadian owned and operated retailer, which has developed strong roots in Ontario over the past 50 years. Missing or empty |title= (help)
  12. ↑ http://www.peaveymart.com/about_us.php
  13. ↑ http://www.reddeerchamber.com/news/details/canadian-farm-and-ranch-retailers-combine-to-total-89-stores
  14. ↑ "About Us". Peavey Mart. Peavey Industries LP. 2016. Retrieved 8 January 2017. In 2016, ... Peavey Mart opened 3 new locations ... plus re-branding TSC locations in Brandon, Manitoba and Winkler, Manitoba.
  15. ↑ Peavy Mart (5 October 2016). "Peavy Acquisition of TSC Stores". Youtube. Retrieved 8 January 2017. This summer we made an exciting announcement with Peavey Industries really broadening our national presence in acquiring TSC Stores. With this merger we've more than doubled the locations under the Peavey Industries banner and dot the map from BC all the way to Ontario.

Further reading

  • Eddy, Nelson (2004). Work hard, have fun, make money: the Tractor Supply story. Brentwood, Tenn.: Tractor Supply Co. ISBN 0976106604.
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