Brentwood, Tenn. – Tractor Supply Company reported that net income for the third quarter was $64.8 million, up almost 30% from net income of $50 million in the same quarter a year earlier. The company also announced the opening of its first store in Wyoming, as it continues to expand into the Western region of the country
Net sales increased 13.4% to $1.21 billion from $1.07 billion in the prior year's third quarter. Same-store sales increased 7.5%. The increase in comparable store sales was broad-based and driven by strong results in key consumable, usable and edible (C.U.E.) products as well as seasonal merchandise.
Sales also benefited from an extended spring selling season that resulted from mild temperatures through much of the quarter. The company opened 23 new stores and closed one store in third quarter 2013.
Tractor Supply opened its first store in the state of Wyoming, in Rawlins, Wy, on Oct. 19. The retailer now operates more than 1,200 stores in 48 states.