Brentwood, Tenn. Sales increased slightly, 2.9%, to $576.2 million in the first quarter of Tractor Supply Cos.’ fiscal year.
However, same-store sales declined 6.5% compared to a healthy increase of 8.5% in the first quarter last year.
In its prepared release, the company attributed the disappointing results to “lower-than-expected sales in big ticket, discretionary merchandise and seasonal merchandise.”
Tractor Supply opened 27 new stores in the first quarter.