Store Count Information: Tractor Supply: New stores opened: 16, Stores closed: -

Store Count Information: Petsense by Tractor Supply: New stores opened: 4, Stores closed: (1)

On October 24, 2024, the Company announced that it has entered into a definitive agreement to acquire Allivet, Inc., a privately held online pet pharmacy. The closing of the acquisition is conditioned on the receipt of regulatory approvals and satisfactory completion of customer closing conditions.

As a percent of net sales, SG&A expenses increased 119 basis points to 27.8% from 26.7% in the third quarter of fiscal 2023. The increase in SG&A as a percent of net sales was primarily attributable to planned growth investments, which included the onboarding of a new distribution center, lapping a one-time depreciation expense benefit in the prior year of $11.3 million or approximately 35 basis points, as well as modest deleverage of the Company's fixed costs given the slight decline in comparable store sales.

These factors were partially offset by a disciplined focus on productivity, cost control and modest benefits from the Company's sale-leaseback strategy.

Operating income for the third quarter of fiscal 2024 decreased 4.8% to $324.6 million from $340.9 million in the third quarter of fiscal 2023.

Our success depends in part on the value and strength of the Tractor Supply name, including our exclusive brands. The Tractor Supply name is integral to our business, as well as to the implementation of our strategies for expanding our business.

In July 2024, we announced a change in our goals relating to our carbon emissions goals and DE&I efforts. Our stakeholders may not be satisfied with our efforts or the changes in our goals, which could adversely affect public perception of our business, team member morale, customer or stockholder support as well as business and/or financial performance.

During the third quarter of fiscal 2024, we repurchased approximately 0.6 million shares of the Company's common stock at a total cost of $149.8 million, excluding the 1% excise tax, as part of our share repurchase program.

paid quarterly cash dividends totaling $117.8 million, returning $267.6 million to our stockholders.

Our projected capital expenditures for fiscal 2024 are currently estimated to be in the range of $625.0 million to $700.0 million, net of proceeds from the sale of existing Company-owned stores as part of our sale-leaseback strategy.

On November 7, 2024, the board of directors of Tractor Supply Company amended the Sixth Amended and Restated By-laws for the Company (the “By-laws”), effective immediately, to adopt new Article XIII providing that, unless the Company consents to an alternative forum, the Delaware Court of Chancery (or other state court in Delaware, in the event the Court of Chancery lacked jurisdiction) would be the sole and exclusive forum for (1) any derivative litigation brought on behalf of the Company, (2) any action asserting breach of fiduciary duty against directors or officers or other employees of the Company, (3) any action against the Company or its officers or directors or other employees arising under the Delaware General Corporation Law or the Company's By-Laws or Certificate of Incorporation, (4) any action otherwise related to the “internal affairs" of the Company, and (5) any action asserting an “internal corporate claim” as that term is defined in the Delaware General Corporation Law, and the federal district courts of the United States would be the sole and exclusive forum for any claims under the Securities Act of 1933 related to any offering of the Company's securities; and making certain other conforming, technical, and administrative changes.