Tractor Supply Co. plans to expand stores in the U.S. even as quarterly earnings fall short

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Tractor Supply Co.’ stock rose 1.4% premarket Thursday, after the company posted weaker-than-expected second-quarter earnings and lowered guidance, while...

Tractor Supply Co.’ stock TSCO rose 1.4% premarket Thursday, after the company posted weaker-than-expected second-quarter earnings and lowered guidance, while unveiling plans to open more stores in the U.S.. The Brentwood, Tenn.-based rural lifestyle retailer posted net income of $421.2 million, or $3.83 a share, for the quarter, up from $396.5 million, or $3.53 a share, in the year-earlier period. Sales rose 7.2% to $4.18 billion. The FactSet consensus was for EPS of $3.92 and sales of $4.

53 a share, in the year-earlier period. Sales rose 7.2% to $4.18 billion. The FactSet consensus was for EPS of $3.92 and sales of $4.26 billion. “As has been well documented, U.S. consumer spending on goods is moderating,” Chief Executive Hal Lawton said in a statement. “Additionally, our business was further impacted by seasonal underperformance, particularly in June.” The company lowered its full-year guidance and said it now expects sales to range from $14.8 billion to $14.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Don't buy Tractor Supply's stock ahead of likely earnings miss, BofA warnsTractor Supply stock fell Tuesday after BofA Securities downgraded it two days before the farm- and ranch-products retailer reports quarterly results.
Source: MarketWatch - 🏆 3. / 97 Read more »