Tractor Supply Company

Tractor Supply Company
Public
Traded as NASDAQ: TSCO
NASDAQ-100 Component
S&P 500 Component
Industry Retail
Founded 1938
Headquarters Brentwood, Tennessee, United States
Number of locations
 1,488[1]
Area served
 49 U.S. states[2]
Key people
 Gregory A. Sandfort - 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.[3]
Revenue $6.2 billion (2015).[1]
$410.4 million (2015).[1]
Number of employees
 11,000 [4]
Website www.tractorsupply.com
A Tractor Supply Co. location in Springboro, Ohio

Tractor Supply Company (TSCO) is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine and pet care. It is a leading U.S. retailer in its market.[5]

History

Interior of a Tractor Supply Company store in East Tawas, Michigan.

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. TSC is headquartered in Brentwood, Tennessee, a suburb of Nashville.[5]

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.[5] As of December 26, 2015, Tractor Supply Company operated 1,488 stores in 49 states,[1] and operated an online store at TractorSupply.com.[6]

On October 10, 2013, the company celebrated its 75th anniversary by ringing the opening bell at the Nasdaq stock exchange in New York.[7]

Products

Tractor Supply lists five major product categories. The livestock and pet products category accounted for 44 percent of the company's sales in 2014. The category with the second highest sales was hardware, tools, truck and towing products, with 22 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 9 percent and agricultural products with 5 percent of sales.[8]

Marketing

The company has conducted advertising campaigns featuring the slogan "The Stuff You Need Out Here."[5] Their mission statement is: "To work hard, have fun and make money by providing legendary service and great products at everyday low prices."

Acquisitions and subsidiaries

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.,[9] 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.[10]

TSC Stores, Limited (Canada)

In November 1966, TSC opened its first Ontario location in London. In 1987, when there were ten Ontario locations, the American parent company sold these locations to the Birch Hill investment company. Prior to July 2016, there were 51 corporate-owned TSC stores in Ontario, mostly in the southwest, as well as two stores in Manitoba (Winkler and Brandon). In Canada, TSC brands itself as "The Incredible Country Hardware Store."[11]

From 2007 to 2009, TSC Stores was title sponsor of The Dominion Tankard curling championship in Southern Ontario.

In July 2016, Peavey Mart bought a controlling interest in TSC Stores Limited (Canada), which will become full ownership over the following year.[12][13] With TSC's 51 retail stores added in, Peavey Mart will control 87 stores in total, as well as a second distribution centre located in London, Ontario. TSC's two Manitoba stores will be rebranded as Peavey Marts.[14] TSC's Ontario stores will continue to operate under the TSC label.

References

  1. 1 2 3 4 "Tractor Supply Company Reports Fourth Quarter and Full Year 2015 Results". Market Wire. NASDAQ.com. 2016-01-27.
  2. ↑ "Tractor Supply Company Enters Utah Market". Market Wire. NASDAQ.com. 2014-10-28.
  3. ↑ Link Tractor Supply Website - About Us.
  4. ↑ Yahoo Finance, Tractor Supply Company Profile.
  5. 1 2 3 4 Rhoades, Emily B.; Irani, Tracy (2008). ""The stuff you need out here": A semiotic analysis case study of an agricultural company's advertisements". Journal of Applied Communications. 92 (3-4). ISSN 1051-0834.
  6. ↑ , Yahoo Finance, Tractor Supply Company Profile. Retrieved December 2, 2014.
  7. ↑ "Tractor Supply Co. execs ring in company's 75th year". The Tennessean. October 11, 2013.
  8. ↑ Tractor Supply Company (February 18, 2015). "SEC Form 10-K".
  9. ↑ Forrester, Brian (May 12, 2002). "Tractor Supply plows Quality row to growth". Nashville Business Journal.
  10. ↑ Company Profile, Del's Feed & Farm Supply website
  11. ↑ TSC Stores Canada website, About Us page, accessed January 24, 2009
  12. ↑ http://www.peaveymart.com/about_us.php
  13. ↑ http://www.reddeerchamber.com/news/details/canadian-farm-and-ranch-retailers-combine-to-total-89-stores
  14. ↑ http://www.brandonsun.com/local/peavey-mart-set-to-open-on-brandons-north-hill-390873671.html

Further reading

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