The Tractor Supply Company has set ambitious long-term financial targets and store expansion goals as part of its “Life Out Here” 2030 strategy. It also plans to expand into the business-to-business market and scale a retail media network.
The nation’s largest rural lifestyle retailer has increased its long-term store count goal to 3,200 locations, up from its previously announced target of 3,000. Tractor Supply expects to open 90 new namesake stores in 2025, along with approximately 10 new Petsense by Tractor Supply stores.
Tractor Supply also updated its total addressable market to approximately $225bn from $180bn by 2023. It aims to achieve a net sales increase of six per cent to eight per cent and comparable store sales growth of three per cent to five per cent. It expects earnings per share growth of eight per cent to 11 per cent.
“Over the last five years, we have delivered strong financial performance and enhanced our competitive advantages through the execution of our Life Out Here strategy,” said Hal Lawton, President and CEO. “With an expanded total addressable market of $225bn, we have significant runway for growth. Our Life Out Here 2030 strategy continues the momentum of our existing initiatives as well as launching new initiatives such as Pet Rx and direct sales. Tractor Supply has never been stronger and the next five years are going to be very exciting.”
