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Tractor Supply Co (TSCO) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 30, 2017

Tractor Supply Co

CIK: 916365 Ticker: TSCO


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www.TractorSupply.com


TRACTOR SUPPLY COMPANY REPORTS
FOURTH QUARTER AND FISCAL 2017 RESULTS


Brentwood, TN, January 31, 2018 - Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retail store chain in the United States, today announced financial results for its fourth quarter (13 weeks) and fiscal year (52 weeks) ended December 30, 2017.

Key Highlights
Fourth Quarter Comparable Store Sales Increased 4.0%; Fourth Quarter Net Sales Increased 1.9%
Fiscal Year Comparable Store Sales Increased 2.7%; Fiscal Year Net Sales Increased 7.0%
Fourth Quarter Diluted EPS of $0.87 and Fiscal Year Diluted EPS of $3.30
Adjusted Fourth Quarter Diluted EPS of $0.91 and Adjusted Fiscal Year Diluted EPS of $3.33, Excluding a One-Time, Non-Cash Charge Resulting from New Tax Legislation
$503.2 Million of Capital Returned to Shareholders Through Share Repurchases and Quarterly Cash Dividends in Fiscal 2017
Company Provides Fiscal 2018 Diluted EPS Outlook of $3.95 to $4.15

53rd Week Impact: As previously disclosed, the Company’s fiscal calendar timing resulted in a 53-week year in 2016 which added an additional week in the fourth quarter and fiscal year of 2016. As a result, the fourth quarter and fiscal year of 2017 were negatively impacted by one week less of both sales and operating income versus the prior year. The 53rd week is estimated to have increased fourth quarter and fiscal year of 2016 diluted earnings per share (EPS) by approximately $0.055. By definition, the Company’s comparable store growth calculations adjust for the 53rd week and all references to comparable store sales growth in this release are to a comparable 52-week basis. Unless otherwise noted, all other metrics do not adjust for the extra week.

“Tractor Supply had a strong fourth quarter with comparable store sales growth of 4.0%, which included increases in both comparable store transaction count and average ticket. For the year, I am very pleased with the foundation we have established to build customer loyalty and to significantly enhance our digital capabilities. These initiatives were instrumental in driving traffic and sales,” said Greg Sandfort, Tractor Supply’s Chief Executive Officer.

“Looking ahead, we believe Tractor Supply continues to have significant opportunities for growth. In 2018, we anticipate balancing investments between new store growth and our ONETractor strategic initiative, while also investing in the day-to-day business, to provide our customers with a seamless shopping experience anytime, anywhere and in any way they choose. We believe this balanced strategy positions us well to gain market share as we leverage our physical store assets and our growing digital capabilities. While these investments will partially offset the expected benefit from tax reform, we believe our strategic investments in the customer experience, stores, supply chain and most importantly, our store team members are the right steps to drive long-term sustainable growth and shareholder value.”

Fourth Quarter 2017 Highlights
Net sales increased 1.9% to $1.95 billion in the fourth quarter of 2017 from $1.92 billion in the fourth quarter of 2016. The prior year’s fourth quarter included an extra sales week as part of the Company’s 53-week calendar in 2016, which negatively impacted the overall sales increase by approximately 6.7 percentage points. In addition, due to the Company’s 2016 fiscal year having 53 weeks versus the normal 52 weeks, each quarter of fiscal 2017 started one week later than the same quarter of fiscal 2016. Comparable store sales increased 4.0% versus an increase of 3.1% in the



The following information was filed by Tractor Supply Co (TSCO) on Wednesday, January 31, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Tractor Supply Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Acquisition Of Petsense
Acquisition Of Petsense (details)
Acquisition Of Petsense Purchase Price Allocation (tables)
Capital Stock (details)
Capital Stock And Dividends
Capital Stock And Dividends (details)
Capital Stock And Dividends (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Interest Rate Swaps
Interest Rate Swaps (details)
Interest Rate Swaps (tables)
Interest Rate Swaps Effective Date Of Interest Rate Swap Agreement (details)
Interest Rate Swaps Ending Fiscal Period Aocl Balance (details)
Interest Rate Swaps Estimated Amount To Be Reclassified Into Earnings Next 12 Months (details)
Interest Rate Swaps Reclassification From Aoci To Income (details)
Interest Rate Swaps Schedule Of Changes In Aocl Net Of Tax (details)
Interest Rate Swaps Tax Impact Of Derivative Liability On Accumulated Other Comprehensive Income (loss) (details)
Leases
Leases (details)
Leases (tables)
Net Income Per Share
Net Income Per Share (details)
Net Income Per Share (tables)
New Accounting Pronouncements
Retirement Benefit Plans
Retirement Benefit Plans (details)
Retirement Benefit Plans Deferred Compensation (details)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Senior Credit Facility - Credit Agreement (details)
Senior Notes (details)
Share Based Compensation
Share Based Compensation (details)
Share Based Compensation (tables)
Significant Accounting Policies
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Treasury Stock
Treasury Stock (details)
Ticker: TSCO
CIK: 916365
Form Type: 10-K Annual Report
Accession Number: 0000916365-18-000031
Submitted to the SEC: Thu Feb 22 2018 5:02:48 PM EST
Accepted by the SEC: Thu Feb 22 2018
Period: Saturday, December 30, 2017
Industry: Retail Building Materials Hardware Garden Supply

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