Tractor Supply Company
Tractor Supply Company (TSCO) is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, livestock, equine and pet care.
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Type | Public |
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Industry | Retail |
Founded | 1938 Minot, North Dakota, U.S. |
Headquarters | , U.S. |
Number of locations | 1,844 |
Area served | 49 U.S. states[1] |
Key people | Hal Lawton - President and CEO |
Products | Clothing & Footwear, Dog, Cat & Pet Supplies, Trailers & Accessories, Lawn and Garden Supplies, Propane & Heating Supplies,Tools & Gun Safes, Fencing, Welders & Welding Supplies, Lawn Mowers & Power Generators, etc |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 32,000[2] (2019) |
Website | tractorsupply |
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History
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Founded as a mail order tractor parts business in 1938, the first Tractor Supply Co. retail store was founded in 1939 in Minot, North Dakota. From 1998 to 2002, George Strait was the spokesman for Tractor Supply. Tractor Supply is headquartered in Brentwood, Tennessee, a suburb of Nashville.[3]
In 2004, when the company reported revenues of more than US$1.7 billion, Fortune magazine named Tractor Supply to its list of the 100 fastest growing businesses.[3] As of December 29, 2019, Tractor Supply Company operated 1,844 stores in 49 states.[4]
On October 10, 2013, the company celebrated its 75th anniversary by ringing the opening bell at the Nasdaq stock exchange in New York.[5]
On September 4, 2018, the company celebrated its 80th anniversary by ringing the closing bell at the Nasdaq Stock Exchange in New York.[6]
The company's 1,700th store opened in March 2018.
On September 9, 2019, it was announced that the company has 1,800 stores in operation.
On March 24, 2020, Tractor Supply started its own animal facts department and is available 24 hours a day.[7]
Products
Tractor Supply offers thirteen product categories on its website [8] and five of them are the major product categories. The livestock and pet products category accounted for 47 percent of the company's sales in 2019.[2] The category with the second highest sales was hardware, tools, truck and towing products, with 21 percent of sales. Seasonal products such as lawn and garden equipment, gifts and toys were 20 percent of sales, followed by clothing and footwear with 8 percent and agricultural products with 4 percent of sales.[9]
Marketing
The company has conducted advertising campaigns featuring the slogan "The Stuff You Need Out Here."[3] Tractor Supply's mission statement is: "To work hard, have fun and make money by providing legendary service and great products at everyday low prices."[10]
Acquisitions and subsidiaries
In September 2016, Tractor Supply Company acquired Petsense, LLC, a leading small-box specialty retailer of pet supplies primarily located in small and mid-size communities.[11] In 2002, TSC was part of a group (also including four liquidation firms) that purchased some of the leases of the bankrupt Quality Stores, Inc.,[12] a Michigan-based company which at one time had operated over 300 stores in 30 states under the names CT Farm & Country; Country General; Quality Farm & Fleet; County Post; Central Farm and Fleet, and FISCO. The company also owns Del's Feed & Farm Supply, a farm retail chain in the Pacific Northwest and Hawaii,[13] with all but two Del's stores having been converted into Tractor Supply stores.[14]
TSC Stores L.P. (Canada)
In November 1966, TSC opened its first Ontario location in London. The Canadian stores have not been affiliated with the U.S. operation of Tractor Supply Company since 1987, when the American parent company sold these locations to the Birch Hill investment company. Current owners Peavey Industries LP are phasing out the TSC brand in Ontario, and all stores will be under the Peavey Mart banner by February 2021.[15]
References
- Pulman, Alecia; Fraser, Brittany (October 28, 2014). "Tractor Supply Company Enters Utah Market". MarketWatch. Retrieved June 24, 2019.
- http://d18rn0p25nwr6d.cloudfront.net/CIK-0000916365/fe817f63-343a-4fe7-9ebf-ba9313092d9b.pdf
- Rhoades, Emily B.; Irani, Tracy (2008). ""The Stuff You Need Out Here": A Semiotic CaseStudy Analysis of an Agricultural Company's Advertisements". Journal of Applied Communication Research. Retrieved June 24, 2019.
- "Tractor Supply Company Reports Fourth Quarter and Fiscal 2019 Results; Provides Fiscal 2020 Financial Outlook". corporate.tractorsupply.com.
- Barna, Christine (October 9, 2019). "Tractor Supply Company [TSCO] to Ring The NASDAQ Stock Market Opening Bell in Celebration of the Company's 75th Year Anniversary". Nasdaq (Press release). Retrieved September 14, 2019.
- "Tractor Supply Company Celebrates 80th Anniversary of Operations with Nasdaq Closing Bell Ceremony". GlobeNewswire (Press release). September 4, 2018. Retrieved September 14, 2019.
- Wilson, Marianne (September 9, 2019). "Tractor Supply hits a store milestone". chainstoreage.com. Retrieved September 14, 2019.
- "Tractor Supply Co". Tractor Supply Co. Retrieved 20 November 2020.
- "Tractor Supply Company 10-K SEC filing". U.S. Securities and Exchange Commission. January 27, 2018. Retrieved June 24, 2019.
- "Tractor Supply Company - Company Overview - Mission and Values". corporate.tractorsupply.com.
- "Tractor Supply Company Announces Acquisition of Petsense, a Growth-Oriented Pet Specialty Retailer With 136 Stores". Yahoo! Finance. September 29, 2016. Retrieved June 24, 2019.
- Forrester, Brian (May 13, 2002). "Tractor Supply plows Quality row to growth". Nashville Business Journal. Retrieved June 24, 2019.
- "Del's Feed and Farm Supply". Tractor Supply. Retrieved June 24, 2019.
- "Tractor Supply Company - Company Overview". corporate.tractorsupply.com.
- https://www.cornwallnewswatch.com/2020/09/02/cornwall-tsc-stores-to-become-peavey-mart/
Further reading
- Eddy, Nelson (2004). Work hard, have fun, make money: the Tractor Supply story. Brentwood, Tenn.: Tractor Supply Co. ISBN 0976106604.
External links
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