Tractor Supply Company has announced financial results for its fourth quarter and fiscal year ended December 28, 2013. Net sales increased 10% to $1.42 billion from $1.29 billion in the prior year’s fourth quarter. Comparable store sales increased 3.5% versus a 4.7% increase in the prior year period. Seasonal items, predominantly heating and insulated outerwear, also performed well due to the cold weather in the latter part of the quarter, noted the retailer.
Net income for the fourth quarter was $95.9 million, or $0.68 per diluted share, compared to net income of $79.5 million, or $0.55 per diluted share, in the fourth quarter of the prior year.
For its fiscal year, the company reported net sales increased 10.7% to $5.16 billion from $4.66 billion in fiscal 2012. Comparable store sales increased 4.8% versus a 5.3% increase in fiscal 2012. Net income increased 18.7% to $328.2 million from $276.5 million and net income per diluted share increased 22.1% to $2.32 from $1.90 for fiscal 2012.
During fiscal 2013, the retail farm and ranch store chain opened 102 new stores and closed two stores. Tractor Supply Company operates 1,276 stores in 48 states.