Tractor Supply (TSCO) rose 4% after hours following the release of a business update that showed revenue growing in the fourth quarter more than analysts had expected.
Tractor Supply said revenue rose to $1.24 billion from $1.03 billion in the prior year, ahead of analysts’ expectations for $1.20 billion.
The company also said its 2011 EPS would “range from $2.97 to $2.99 per diluted share compared to its previous guidance of $2.85 to $2.89 per diluted share.” Analaysts were expecting $2.91. Chairman and CEO Jim Wright said in a statement:
“While we are still in the early stages of the year-end financial closing process, we felt it was important to provide an update on expected results given such strong performance in the fourth quarter of 2011.� These results are reflective of the structural improvements we have made to our business in recent years, including a focus on C.U.E. merchandise, improved inventory management and merchandise allocation and regionalization, all of which have continued to reduce our dependence on weather trends.� Sales growth in the fourth quarter of 2011 was driven by continued strong transaction count and a year-over-year increase in average ticket, with added tailwinds from both the 53rd week and inflation.� We are very pleased that we have maintained the momentum in our business and are confident in our ability to deliver continued profitable growth.”
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