Tractor Supply 1Q sales, earnings up
BRENTWOOD, Tenn. Tractor Supply Company reported that net sales for the first quarter increased 9.3% to $710.9 million from $650.2 million in the prior year’s first quarter. Same-store sales increased 2.8%, compared with a 4.2% increase in the prior-year period. This same-store sales increase was primarily driven by the company’s core consumable categories, including animal and pet-related products, as well as heating products and insulated outerwear, the company reported.
Net income for the quarter was $9.3 million, or 25 cents per diluted share, compared with net income of $0.5 million, or 1 cent per diluted share, in the first quarter of the prior year.
Jim Wright, chairman and CEO, stated, “As we recently announced, our exceptional performance resulted in sales growth, gross margin expansion and expense leverage; all of which contributed to record first quarter earnings. Throughout the quarter, we executed well on our strategies to address customers’ needs and enhance the business. The team worked together closely to ensure that our seasonal presentation, product assortment and in-stock levels were appropriate. Additionally, we lowered per-store inventory for the tenth consecutive quarter through disciplined operational management.”
The company said it anticipates net sales to range from $3.44 billion to $3.5 billion, same-store sales are expected to increase 1% to 3%, and net income to range from $3.48 to $3.60 per diluted share.
H-E-B giving away reusable bags
SAN ANTONIO H-E-B announced that it will give away 250,000 reusable shopping bags at all stores across Texas to help eliminate 1.5 million plastic bags from circulation.
In order to receive the free bag, each consumer must bring at least five plastic shopping bags for recycling. Consumers who meet this standard will receive a coupon for a free reusable bag while supplies last.
“We want to reinforce our enthusiasm for going green and encourage our shoppers to do the same,” said Susan Ghertner, director of environmental affairs. “By giving away 250,000 reusable bags we are making it possible for people to make a positive difference when it comes to the environment.”
In addition, H-E-B is offering customers the option to purchase green bags not part of the giveaway and help contribute to the Keep Texas Beautiful program.
B&N.com to share content with Salon.com
NEW YORK Barnes & Noble announced that its Web site, BN.com, will expand its reach via a content partnership between its online books and arts magazine, the Barnes & Noble Review, and Salon.com, an award-winning news and entertainment Web site reaching more than 6 million unique users each month.
As part of the agreement, selected articles from the Barnes & Noble Review will be shared with Salon.com on a daily basis, providing Salon readers the critical appraisals, reviews, essays, and interviews that have won the Review wide acclaim. Salon.com will in turn share selected elements of its content on the Barnes & Noble Review site. All content will include links to corresponding information on both websites. Additionally, Salon.com will include affiliate links to BN.com, allowing its readers the opportunity to purchase books, eBooks and more from BN.com. As part of the creative alliance, Salon and the Review will create booklists of current and background reading to enhance Salon’s topic and news pages.
“Salon.com has long set a high standard for smart writing and editorial excellence on the web,” said James Mustich, editor-in-chief of the Barnes & Noble Review. “We’re thrilled to have this opportunity to bring the first-rate book reviews and other features of the Barnes & Noble Review to Salon readers, and to share the work of Salon’s critics with our growing audience. In an era in which compelling writing about books is fast disappearing in newspapers and magazines, it’s exciting for us both to have this opportunity to nurture it online.”