Tractor Supply Company is the largest rural lifestyle retailer in the United States, focusing on supplying the needs of recreational farmers, ranchers, and those who enjoy the rural lifestyle. The company operates retail stores under the names Tractor Supply Company and Petsense by Tractor Supply, primarily in towns outlying major metropolitan markets and in rural communities. They also offer an expanded assortment of products through their mobile application and online.

• Employees: Approximately 50,000 (as of December 30, 2023)
• Geographic Footprint: 49 states
• Headquarters: Brentwood, Tennessee
• Founded: 1938
• Number of locations/facilities: 2,414 retail stores (2,216 Tractor Supply and 198 Petsense)
• Revenue: $14.56 billion (FY2023)
• Key Subsidiaries/Brands: Petsense by Tractor Supply

• CEO: Harry A. Lawton, III
• CFO: Kurt D. Barton
• Chief Technology, Digital Commerce and Strategy Officer: Robert D. Mills
• Chief Stores Officer: John P. Ordus
• Chief Merchandising Officer: Jonathan S. Estep
• Chief Human Resources Officer: Melissa D. Kersey
• Chief Supply Chain Officer: Colin W. Yankee
• General Counsel and Corporate Secretary: Noni L. Ellison
• Chief Marketing Officer: Kimberley S. Gardiner
• General Manager of Petsense by Tractor Supply: Matthew L. Rubin

The leadership team has a mix of experience in retail, technology, and supply chain management.

• Annual Revenue: $14.56 billion (FY2023)
• Net Income: $1.11 billion (FY2023)
• Total Assets: $9.19 billion (as of December 30, 2023)
• Employees: Approximately 50,000 (as of December 30, 2023)
• Key Financial Highlights: Comparable store sales were even in fiscal 2023 versus a 6.3% increase in fiscal 2022. Gross margin increased 92 basis points to 35.9% of net sales. Operating income increased 6 basis points to 10.2% of net sales.

The company offers a wide range of products tailored to the rural lifestyle.

• Livestock, Equine & Agriculture: Livestock and equine feed & equipment, poultry, fencing, and sprayers & chemicals.
• Companion Animal: Food, treats and equipment for dogs, cats, and other small animals as well as dog wellness.
• Seasonal & Recreation: Tractor & rider, lawn & garden, bird feeding, power equipment, and other recreational products.
• Truck, Tool, & Hardware: Truck accessories, trailers, generators, lubricants, batteries, and hardware and tools.
• Clothing, Gift, & Décor: Clothing, footwear, toys, snacks, and decorative merchandise.

The company operates in one reportable industry segment, which is the retail sale of products that support the rural lifestyle.

• Livestock, Equine & Agriculture: 27% of net sales (FY2023)
• Companion Animal: 25% of net sales (FY2023)
• Seasonal & Recreation: 22% of net sales (FY2023)
• Truck, Tool, & Hardware: 16% of net sales (FY2023)
• Clothing, Gift, & Décor: 10% of net sales (FY2023)

The company's strategy focuses on being an integral part of its customers' lives as the dependable supplier of "Out Here" lifestyle solutions. Key initiatives include:

• Expanding and deepening the customer base through personalized experiences and digital engagement.
• Evolving customer experiences by digitizing business processes and furthering omni-channel capabilities.
• Offering relevant assortments and services across all channels through exclusive and national brands.
• Driving operational excellence and productivity through continuous improvement.
• Expanding through selective acquisitions.

The company operates in a competitive retail industry.

• Market Position: Largest rural lifestyle retailer in the United States.
• Key Competitors: General merchandise retailers, home center retailers, pet retailers, specialty and discount retailers, independently owned retail farm and ranch stores, regional farm store chains, farm cooperatives, and internet-based retailers.
• Industry Trends: The company focuses on a specialized market niche for customers living the rural lifestyle.

• Strategic and Competitive Risks: Failure to protect brand reputation, inability to increase sales at existing stores, and merchandising and marketing initiatives may not provide expected results.
• Operational Risks: Failure to open and manage new stores, inability to meet customer expectations, and dependence on third-party vendors.
• Financial Risks: Changes in market conditions, weather and climate risks, and level of indebtedness.
• Supply Chain and Third-Party Vendor Risks: Risks associated with vendors from whom products are sourced, reliance on foreign manufacturers, and disruptions to the distribution network.
• Technology, Data Security, Cybersecurity, Business Continuity and Disaster Recovery Risks: Failure to maintain the security of information, system interruptions or failures, and payments-related risks.