Tractor Supply Company reported a strong fourth quarter and fiscal year ended December 29, 2018, with both net sales and income growing.
Net sales increased 9.2% to $2.13 billion in the fourth quarter of 2018 from $1.95 billion in the fourth quarter of 2017. Comparable store sales increased 5.7% versus an increase of 4% in the prior year’s fourth quarter. The comparable store sales results included increases in comparable average ticket of 3.0% and comparable transaction count of 2.6%. All geographic regions of the company and all major product categories had positive comparable store sales growth.
Net income was $136.9 million, or $1.11 per diluted share, compared to net income of $109.7 million, or $0.87 per diluted share, in the fourth quarter of 2017
In the full fiscal year, net sales increased 9% to $7.91 billion from $7.26 billion in fiscal 2017. Comparable store sales increased 5.1% versus a 2.7% increase in fiscal 2017. For fiscal 2018, net income was $532.4 million, or $4.31 per diluted share, compared to $422.6 million, or $3.30 per diluted share, in fiscal 2017
“2018 was a successful year for Tractor Supply, driven by balanced and broad-based sales growth, while making strategic investments in our business. The Tractor Supply team had great execution throughout the year, including a strong fourth quarter with comparable store sales growth of 5.7% with increases in both comparable average ticket and transaction count,” said Greg Sandfort, Tractor Supply’s CEO. “As we move into 2019, we continue to build on our OneTractor strategy to provide our customers with a seamless shopping experience anytime, anywhere and in any way they choose. We remain excited about our future prospects and continue to believe we are well positioned for long-term growth and sustainable shareholder value creation.”