Tractor Supply Lowers Outlook After Q1 Miss

Tractor Supply Company reported mixed first-quarter 2025 results, with net sales rising 2.1% year-over-year to $3.47 billion, primarily due to new store openings, but missing analyst expectations. Comparable store sales declined by 0.9%, and earnings per share fell to $0.34 from $0.37 a year ago, also missing forecasts. The company attributed the disappointing performance to new tariffs and softer consumer demand, especially in spring seasonal and big-ticket categories. Shares fell over 5% after the results were released. Tractor Supply lowered its full-year 2025 guidance, now projecting EPS of $2.00-$2.18 and net sales growth of 4%-8%, both below earlier forecasts. Management emphasized ongoing investments in strategic initiatives, omnichannel capabilities, and a focus on needs-based, U.S.-sourced products to navigate the challenging market.