Tractor Supply Update: Bought the Farm
On Tuesday I wrote about Tractor Supply (TSCO). The company reported yesterday and it looks like the stock bought the farm. It's down more than 3% in midday trading. What happened?
First, the company blamed the weather. (Because that's what you do when you're a retailer.) But seriously, management told investors the dry season had a big impact on planting. The drought, which covered almost 64% of the country, depressed sales. Furthermore, the lack of a really cold September held back cold-weather products. Merchandise such as pellet stoves and cold weather hunting gear were down. Consumable, useable and edible (CUE) products remained strong since chickens and horses eat no matter how the quarter is going. Exclusive and private retail brands of feed make up about 25% of sales and were up 1%. Last year, Hurricane Irene whipped up sales so emergency response products sales were weak....243 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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