Tractor Supply Reports Strong 3Q Results
Brentwood, Tenn. Tractor Supply Co. reported that its net sales increased 16.6% to $733.9 million from $629.2 million in the prior year’s third quarter.
Meanwhile, its same-store sales increased 6.2% compared with a 1.9% increase in the prior year’s third quarter. Same-store sales growth was driven by the company’s core consumable categories, including animal and pet-related products; seasonal heating-related products; and emergency-response merchandise related to hurricane activity.
Net income rose to $19.8 million from $17.5 million in the same period last year, while revenue rose to $733.9 million, up 16.6%, from $629.2 million in the same period last year.
Jim Wright, chairman, president and chief executive, said Tractor Supply will manage its inventory spending and expenses and free up capital as it heads into the holiday season.
Coca-Cola Enterprises names board director
ATLANTA Coca-Cola Enterprises announced that John Hunter has been elected as director of the company’s board. Hunter fills the position left open by Gary Fayard, who resigned from CCE’s board. Hunter will serve the remaining portion of Fayard’s term, which expires in April 2010. He also was appointed to the board’s Corporate Responsibility and Sustainability committee.
Hunter joins the board with extensive global and operational experience with the Coca-Cola system, and has held various positions of increasing responsibility within the Coca-Cola system in international markets such as Japan, Hong Kong and Australia. Hunter retired in 1996 as evp of The Coca-Cola Co. and president of Coca-Cola International. During his career, he has served on the boards of Coca-Cola Amatil, Coca-Cola Ltd (now Coca-Cola Hellenic Bottling Co.), Coca-Cola Bottlers Philippines Inc., Coca-Cola Bottling Co. of New York (now a part of CCE) and most recently as chairman of Seagram Spirits and Wine Group.
“John’s extensive experience across the Coca-Cola system will provide tremendous value to our board of directors,” said John F. Brock, chairman of the board and ceo of Coca-Cola Enterprises. “We look forward to working with John and will benefit from his depth of knowledge of our business.”
Winn-Dixie, Sony partner for new music deal
JACKSONVILLE, Fla. Under an agreement with Sony BMG Music Entertainment, Winn-Dixie customers can purchase the newest form of pre-recorded music that is downloaded to iPods and other digital music players. The Platinum MusicPass is a credit card-size digital album card that allows consumers to download full-length albums in the form of high-quality MP3 files. Many of the Platinum MusicPass offerings include special bonus content.
“Winn-Dixie was one of the first retailers in the U.S. to partner with Sony BMG on this initiative,” said Rich Romano, manager for Winn-Dixie’s prepaid card sales. “Sony BMG has been at the forefront of new entertainment technology and is home to some of the biggest names in the recording industry. Teaming with Sony BMG provides our customers the opportunity to purchase new release albums in an innovative way while they do their grocery shopping.”
Platinum MusicPass cards have a suggested retail price of $12.99 and are found near the gift card mall displays in most Winn-Dixie stores. The cards include the complete digital album plus bonus material. In the case of compilations, MusicPass cards include extensive tracks. Purchasers scratch the back of the card to reveal a pin number. They then visit www.musicpass.com to download their music files and any bonus material.