Tractor Supply Co. 4Q Sales Up 10.5%
Brentwood, Tenn. Tractor Supply Co. reported that net sales in its fourth quarter increased 10.5% to $799.5 million, from $723.3 million in the prior year’s fourth quarter. Same-store sales rose 1.3%.
Net income for the quarter was $24.7 million, compared to $30.0 million in the fourth quarter of the prior year. Exclusive of the LIFO provision, net income for the quarter was $37.2 million, compared $31.6 million in the year ago period.
Jim Wright, chairman, president and CEO, stated, “Our team did an outstanding job delivering strong operating results and taking the necessary actions during the quarter and year to mitigate challenging consumer headwinds.”
For fiscal 2008, net sales increased 11.3% to $3.01 billion from $2.70 billion. Same-store sales increased 1.4%.
Tractor Supply expects to open approximately 70 to 80 stores in fiscal 2009.
Tuesday Morning suffers 2Q loss
DALLAS Tuesday Morning reported that as previously announced, net sales for the second quarter of fiscal 2009 were $272.7 million compared to $308.7 million for the quarter ended Dec. 31, 2007, a decrease of 11.7%. Comparable-store sales decreased 14.9% for the quarter compared to the same quarter in the prior year.
According to the company, the decrease in comparable-store sales was comprised of a 9.6% decrease in traffic and a 5.3% decrease in average ticket.
Net income for the second quarter was $12.7 million or 31 cents per diluted share, compared to $20.5 million or 50 cents per diluted share during the same quarter last year.
Kathleen Mason, president and CEO, stated, “The December 2008 quarter was reported as the most difficult retail holiday season on record. While consumers remain cautious, we remain focused on preserving our strong balance sheet, managing inventory levels and generating positive cash flow.”
Obama figurine added to Chia product line
SAN FRANCISCO Joseph Enterprises, makers of the Chia Pet line of products, has introduced the Chia Obama, in honor of the 44th U.S. president.
The Special Edition CHIA OBAMA is a handmade decorative figurine in the likeness of President Barack Obama.