The company lost close to $2 billion in market capitalization in five days since the company's diversity, equity, and inclusion policies were first exposed by Tennessee filmmaker and former Republican congressional candidate Robby Starbuck.
Tractor Supply is the largest rural lifestyle retailer in the U.S. and currently ranks 291 on the Fortune 500. It has also stated DEI goals such as "increase people of color at the management level by 50 percent." In 2023 the company boasted on its website about being recognized for DEI in the workplace.Starbuck posted on X that Tractor Supply's management has "responded with the most dramatic policy reversal I've ever seen. This is a massive victory for sanity and the single biggest boycott win of our lifetime.