Tractor Supply Co (TSCO) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 26, 2020

Tractor Supply Co

CIK: 916365 Ticker: TSCO



Brentwood, TN, January 28, 2021 - 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 26, 2020.

Company Achieves Record Sales and Earnings for Fiscal 2020
Fourth Quarter Net Sales Increased 31.3%; Fourth Quarter Comparable Store Sales Increased 27.3%
Fiscal Year Net Sales Increased 27.2%; Fiscal Year Comparable Store Sales Increased 23.1%
Company Recorded Non-Cash Pre-Tax Impairment Charges of $74.1 million, or $0.49 per diluted share after-tax, related to the Petsense Business
Fourth Quarter Diluted Earnings per Share (“EPS”) of $1.15 and Adjusted Diluted EPS of $1.641
Fiscal Year 2020 Diluted EPS of $6.38 and Adjusted Diluted EPS of $6.871
Company Provides Fiscal 2021 Diluted EPS Outlook of $6.50 to $6.90
Board of Directors Increases Quarterly Dividend by 30% to $0.52 per share
1See “Use and Reconciliation of Non-GAAP Financial Measures” below.

“We are incredibly proud of all the Tractor Supply team achieved in 2020 including record sales and operating performance for the year. My thanks and appreciation go out to the team for their support of each other, our customers and our longstanding commitment to the rural lifestyle. Our team remained agile in a challenging operating environment as we experienced unprecedented demand and welcomed a record number of new and reengaged customers to Tractor Supply,” said Hal Lawton, Tractor Supply’s President and Chief Executive Officer. “The team has done an exemplary job operating the business at elevated rates in the midst of a global pandemic, all while laying the foundation for our Life Out Here Strategy. Going forward, we believe our resilient business model with a differentiated and loyal customer base, our strategic investments to capture growth opportunities and the strength of our balance sheet position us to capitalize on the momentum in our business in 2021 and beyond.”

Lawton continued, “The 30% increase in our quarterly dividend by the Board of Directors and our recently resumed share repurchase program reflect our strong earnings performance and robust cash flows in 2020 and confidence in our business, as well as our ongoing commitment to total shareholder return.”

Fourth Quarter 2020 Highlights
Net sales increased 31.3% to $2.88 billion in the fourth quarter of 2020 from $2.19 billion in the fourth quarter of 2019. Comparable store sales increased 27.3% versus an increase of 0.1% in the prior year’s fourth quarter. The COVID-19 pandemic continued to have a significant, positive impact on consumer demand in the fourth quarter of 2020 across all of the Company’s major product categories as customers focused on the care of their homes, land and animals. Comparable store sales for the fourth quarter 2020 were driven by comparable average transaction count and ticket growth of 14.3% and 13.0%, respectively. The comparable store sales results also reflect a strong demand for everyday merchandise, including consumable, usable and edible products, and robust growth for seasonal categories. All geographic regions of the Company had robust comparable store sales growth. In addition, the Company’s e-commerce sales experienced triple-digit percentage growth for the third consecutive quarter.

Gross profit increased 34.2% to $995.5 million from $741.8 million in the fourth quarter of 2019, and gross margin rate increased 75 basis points to 34.6% from 33.8% in the prior year’s fourth quarter. The increase in gross margin

The following information was filed by Tractor Supply Co (TSCO) on Thursday, January 28, 2021 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 Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
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 Ending Fiscal Period Aocl Balance (Details)
Interest Rate Swaps Estimated Amount To Be Reclassified Into Earnings Next 12 Months (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, Cost
Leases, Maturities Table
Leases, Supplemental Lease Liability
Leases, Term And Discount
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)
Subsequent Events
Ticker: TSCO
CIK: 916365
Form Type: 10-K Annual Report
Accession Number: 0000916365-21-000052
Submitted to the SEC: Thu Feb 18 2021 5:24:32 PM EST
Accepted by the SEC: Thu Feb 18 2021
Period: Saturday, December 26, 2020
Industry: Retail Building Materials Hardware Garden Supply

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