Tractor Supply Co (TSCO) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 28, 2019

Tractor Supply Co

CIK: 916365 Ticker: TSCO


Brentwood, TN, January 30, 2020 - Tractor Supply Company (NASDAQ: TSCO)
, the largest rural lifestyle retailer in the United States, today announced financial results for its fourth quarter and fiscal year ended December 28, 2019.

Fourth Quarter Net Sales Increased 2.7%; Fourth Quarter Comparable Store Sales Increased 0.1% on top of 5.7% comparable store sales growth in the same period last year
Fiscal Year Net Sales Increased 5.6%; Fiscal Year Comparable Store Sales Increased 2.7%
Fourth Quarter Diluted Earnings per Share (“EPS”) Increased 9.0% to $1.21; Fiscal Year Diluted EPS of $4.66 and Adjusted Diluted EPS of $4.681
$696.0 Million of Capital Returned to Shareholders Through Share Repurchases and Quarterly Cash Dividends in Fiscal 2019
Company Provides Fiscal 2020 Diluted EPS Outlook of $4.90 to $5.10
1 See “Use and Reconciliation of Non-GAAP Financial Measures” below.

Greg Sandfort, Tractor Supply’s Strategic Advisor and retired Chief Executive Officer, effective January 13, 2020, commented, “Overall, 2019 was a solid year for the Tractor Supply team as we achieved record revenue and net income. While our comparable store sales performance for the fourth quarter was below our expectations, the weakness was driven principally by the effect of a period of warmer than expected weather impacting the sales of seasonal products and softness in several holiday discretionary categories. Despite the sales trends in the quarter, the Tractor Supply team executed well, controlling what we could control. This performance resulted in earnings per share in line with our guidance range as the team delivered gross margin expansion accompanied with disciplined cost management. I am optimistic about the future of Tractor Supply and where Hal and the team will lead the Company in the future.”

Hal Lawton, who was named Tractor Supply’s President and Chief Executive Officer, effective January 13, 2020, said, “I would like to thank Greg for his outstanding leadership and dedication to Tractor Supply over the last 12 years. As we move into 2020 and beyond, Tractor Supply is well positioned to build on our strengths, and I am excited about our opportunities for growth. At Tractor Supply, we have a differentiated customer experience, a robust set of competencies, and are well positioned to become an even more integral part of our customers’ lives. In the coming weeks and months, I will be focused on listening and learning from Tractor Supply team members and working with the leadership team to position Tractor Supply for continued long-term success.”

Fourth Quarter 2019 Highlights
Net sales increased 2.7% to $2.19 billion in the fourth quarter of 2019 from $2.13 billion in the fourth quarter of 2018. Comparable store sales increased 0.1% versus an increase of 5.7% in the prior year’s fourth quarter. The comparable store sales results included an increase in comparable average ticket of 1.8% and a decrease in comparable transaction count of 1.7%. The comparable store sales performance in the fourth quarter was primarily driven by strength in the consumable, usable and edible categories, which were generally in line with the Company’s expectations. This performance was offset by weakness in cold weather seasonal and holiday discretionary categories. Softness in the cold weather seasonal categories such as heating equipment and insulated outerwear were impacted by the unseasonably warm weather in December which was the sixth warmest in 125 years. Emergency response categories were negatively impacted as the Company cycled hurricane-related sales from the fourth quarter of 2018. In addition, holiday discretionary categories were pressured by six fewer selling

The following information was filed by Tractor Supply Co (TSCO) on Thursday, January 30, 2020 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

New Accounting Pronouncements
Capital Stock And Dividends Details
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Statement Of Income Tables
Treasury Stock
Treasury Stock Details
Capital Stock (Details)
Capital Stock And Dividends
Capital Stock And Dividends (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
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 (Details)
Leases (Tables)
Leases - Cash Paid For Amounts Included In The Measurement Of Lease Liabilities (Details)
Leases - Cost (Details)
Leases - Lease Term And Discount Rate (Details)
Leases - Maturity Liability 842 (Details)
Leases, Codification Topic 840 (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
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)
Ticker: TSCO
CIK: 916365
Form Type: 10-K Annual Report
Accession Number: 0000916365-20-000050
Submitted to the SEC: Thu Feb 20 2020 4:33:42 PM EST
Accepted by the SEC: Thu Feb 20 2020
Period: Saturday, December 28, 2019
Industry: Retail Building Materials Hardware Garden Supply

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