Tractor Supply eyes pet expansion, adjusts yearly outlook

Tractor Supply reported net sales of $3.5 billion (€3.1B) in the 3 months to 29 March 2025. This is a 2.1% increase against the same period in the previous year.

“As the year unfolds amid increasing volatility, our conviction in Tractor Supply’s resilient and durable business model remains strong,” says President and CEO Hal Lawton. 

“We have a long track record of navigating uncertain environments, and we believe we are well-positioned to do so once again.”

The retailer, which operates its eponymous stores with small-box specialty pet retailer Petsense by Tractor Supply and online pet pharmacy Allivet, says it is “uniquely differentiated” by its needs-based product categories, US-sourced assortment, vendor relationships and supply chain.

Tractor Supply opened 2 new Petsense stores and closed another 2 between January and March 2025, ending the quarter with 206 locations. 

Yearly guidance

The potential impacts of tariffs and a slowdown in the US economy have led Tractor Supply to update its guidance compared to what it stated in January. 

Net sales, operating margin, net income and earnings per share (EPS) are all expected to be lower for fiscal year 2025. Comparable store sales may be flat or grow up to 4% compared to the 1-3% it was expecting in its previous guidance.

Second quarter 2025 guidance suggests net sales growth of approximately 3% to 4%, comparable store sales growth of flat to up 1% and earnings per diluted share between $0.79 (€0.69) and $0.81 (€0.71). 

“Since issuing our initial 2025 outlook, there has been a notable increase in uncertainty, in particular, the introduction of new tariffs. In response, we are updating the range of our full-year outlook and providing guidance for the second quarter,” notes Lawton. 

Pet care expansion 

Tractor Supply recently completed its acquisition of online pet pharmacy Allivet, expanding the company’s addressable market by $15 billion (€14.5B) to $225 billion (€218B) with the hope of adding $1 billion (€877M) in revenue.

Following the integration of the pharmacy business this month, the company is rolling out a new low-cost animal and pet pharmacy offering, Tractor Supply Rx. This offering lets customers purchase online with automatic delivery and offers expert pharmacy advice.

“Through our swift integration of Allivet, we can scale this digital business into our stores to provide a compelling animal health offering wherever our customers choose to shop,” says Rob Mills, Executive Vice President, Chief Technology, Digital and Corporate Strategy Officer at Tractor Supply.