Online pet pharmacy Allivet contributed to Tractor Supply’s net sales in Q4 2025

Tennessee-based Tractor Supply delivered a weaker-than-expected performance in the fourth quarter of fiscal year (FY) 2025, which ended on 27 December 2025. The company’s net income declined 3.8% year over year (YoY) to $227.4 million (€209M).

“Our fourth quarter results came in below our expectations and reflected a shift in consumer spending, with essential categories remaining resilient while discretionary demand moderated,” says Hal Lawton, President and Chief Executive Officer of Tractor Supply.

Quarterly net sales recorded modest growth of 3.3% to $3.9 billion (€3.57B), compared with $3.8 billion (€3.47B) in Q4 of FY2024. According to the company, the online pet pharmacy Allivet, acquired in October 2024, was among the contributors. 

However, comparable store sales growth slowed to 0.3%, down from 0.6% in the previous year. 

FY2025 performance

Lawton tells investors that 2025 was a year of “meaningful” progress. “At the same time, we built the capabilities needed to support Direct Sales, Final Mile and pet and animal prescriptions,” he adds.

For the full year, Tractor Supply’s net sales rose 4.3% to $15.5 billion (€14.28B), driven by store openings. Comparable store sales also increased 1.2% year over year.

Despite this growth, net sales fell short of the revised guidance range for the period announced in October 2025, which ranged from +4.6% to +5.6%.

Meanwhile, net income remained flat YoY at $1.1 billion (€1B), while diluted earnings per share increased 0.9% to $2.06 (€1.73). These results fell within the revised guidance range.

Store openings

In FY2025, the company opened 99 new Tractor Supply stores, 31 of which opened during the fourth quarter. This brought its total store count to 2,395 across 49 states.

Petsense by Tractor Supply, the company’s pet specialty retail brand, also opened 1 new store last year, following the opening of 5 new locations and the closure of 4 others. 

Outlook

For FY2026, Tractor Supply forecasts net sales growth of 4% to 6% and comparable store sales growth of 1% to 3%. The company also expects net income to range between $1.11 billion (€1.02B) and $1.17 billion (€1.08B).

This outlook is supported by plans to open approximately 100 stores, complete its 11th distribution center and continue investing in store and digital technology.