Tractor Supply (TSCO)
Sells farm, pet, hardware, and seasonal goods for rural living.
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Tractor Supply sells what country living runs on — feed for horses, chickens and cattle, dog food, work boots, trailers, tools and riding mowers — from big stores in rural towns across nearly every state. Growth has come from opening and remodelling stores rather than from raising prices, and that engine is slowing. The next act is pets: an online animal pharmacy and pop-up vet clinics bolted onto the aisles.
Item facts: FY2025 · year ended Dec 27, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 16 more below
Livestock, Equine & Agriculture
Feed, hay, animal medicine and fencing — the biggest of the five aisles at 27% of a $15.5B year, and roughly a third of sales in the latest quarter as the discretionary aisles sagged. Watch whether the pounds sold keep growing while prices per bag fall.
Competes with Feed and farm aisles (Rural King) · Farm-store aisles (Bomgaars) · Feed counters (Blain's Farm & Fleet)
In plain English
Animals eat on a schedule, so this aisle sells on a schedule: sacks of horse, cattle and chicken feed, hay, wormers and vaccines, fencing, gates, and live baby chicks in spring.
None of it is optional. Somebody with four horses is back every few weeks, and picks up a hose or a pair of gloves while they are there — which is why this is the aisle that decides how often the parking lot fills. Pounds sold have kept growing across every kind of animal even as the average price per item fell, so the dollars grow more slowly than the trips do.
Owned Brands
Twenty-seven house labels spread across every aisle — Producer's Pride, 4health, Countyline, Ridgecut — about 30% of sales, up from 29%. Field & Stream is on track to pass $100M this year, the fourteenth of them to do it. Each point gained is profit kept.
Competes with Nutrena feed brand (Cargill) · Cody James and Shyanne exclusive brands (Boot Barn) · Store-label pet food (Chewy)
In plain English
Look at the shelf and roughly a third of what sits on it carries a name only this chain sells — Producer's Pride feed, 4health dog food, Dumor, Countyline gates, Ridgecut workwear, twenty-seven labels in all.
Store brands work the way a supermarket's own cereal does: the retailer pays a factory to make the goods, puts its own name on them, and keeps more of each dollar that crosses the register. That extra margin is one of the main levers management pulls when costs rise. The catch is trust — feed and dog food are things people are fussy about, and a house label has to earn that.
Companion Animal
Pet food, treats and pet health at 24% of sales — and the sore spot: its share of a quarter has slid from 28% two years ago to about 21%. Fresh and premium food is where the growth went, and where these shelves were thin.
Competes with Autoship pet food (Chewy) · Pet-specialty stores (PetSmart) · Pet aisles (Walmart)
In plain English
Dog and cat food is the other half of the animal business — kibble, treats, litter, collars, flea and tick medicine — sold in the main stores, online, and in the small Petsense shops.
It ought to be the easy win, since people feed pets in good times and bad. Instead it has been the disappointment. Growth in pet food moved to fresh, refrigerated and premium food, and these shelves were heavy on big bags of dry kibble for big dogs. The fix has been to stock what shoppers moved to — Freshpet coolers, Purina Pro Plan, Hill's Science Diet — while Chewy's subscribe-and-ship habit keeps pulling the repeat order away from stores.
Allivet and VIP Petcare
An online animal pharmacy and a fleet of pop-up vet clinics, bought for about $135M apiece. Together roughly 1% of sales at this year's pace — small so far, and the clearest sign of where management is steering the pet business.
Competes with Chewy Pharmacy (Chewy) · 1-800-PetMeds (PetMed Express) · Online pet pharmacy (Walmart)
In plain English
Two small purchases, made a year and a half apart, that together add a pharmacy and a vet to a farm store.
Allivet, bought for $135.0M, fills prescriptions for pets and farm animals by mail — the medicines a vet would normally hand over at the desk — and is licensed to do it in all fifty states. VIP Petcare, bought from the pet company PetIQ for $133.8M, runs clinics on the move: a folding table, a contracted vet and a few hours of appointments outside about 2,700 retail locations, 1,700 of them Tractor Supply stores, seeing more than a million pets a year. Both sell the care around the animal rather than the bag of food.
Petsense by Tractor Supply
A 209-store pet chain the company owns, worth maybe 2–3% of sales. In July it approved closing about 75 of them and booked $71.7M of charges, calling what remains a smaller business not directly connected to the core stores.
Competes with Neighborhood pet stores (Petco) · Small-format pet stores (PetSmart) · Online refill orders (Chewy)
In plain English
A separate chain of small pet shops, about 5,500 square feet each, run under its own name rather than the Tractor Supply sign.
It is a different trip from the big farm store: duck in for a bag of food and a toy instead of loading a truck. That turned out to be the trouble. Around half of Petsense shoppers already shop the main stores, and roughly 75 of the little shops were not covering their own running costs, so in July the company approved closing them and wrote off $71.7M. What survives is meant to be a smaller set of shops that pays its way.
Seasonal & Recreation
Mowers, garden centers, grills, generators and outdoor gear — 24% of sales and most of the swing from quarter to quarter. A bad May helped push management to cut its July outlook: sales at stores open a year or more, now -1% to flat.
Competes with Outdoor power equipment aisles (The Home Depot) · Lawn and garden aisles (Lowe's) · Seasonal aisles (Fleet Farm)
In plain English
Spring is when this aisle wakes up: riding mowers and zero-turns, garden centers full of plants and mulch, grills, generators, heaters, and a hunting-and-outdoors section.
This is the fun money, and it is the first thing a rural household puts off. A mower is a big purchase that can wait another season; a bag of chicken feed cannot. So the whole company's quarter can hinge on the weather — April and June sold fine this year, May did not, and that one month, in the big purchases and spring goods, cost about two points of sales growth at stores already open.
Truck, Tool & Hardware
Trailers, welders, tools, safes and fence hardware at 15% of sales — the steadiest of the five aisles, because it follows repairs on land people already own rather than the housing market. Its bulky goods are what the company's own delivery hubs carry home.
Competes with Discount tool aisles (Harbor Freight) · Tool and towing gear (Northern Tool + Equipment) · Hardware aisles (Menards)
In plain English
Trailers and hitches, welders, power tools, safes, gate hardware, fasteners sold by the pound — the fix-it-and-haul-it half of the store.
Picture the customer as somebody with land and a to-do list: a gate to hang, a fence to mend, a load to move. Part of it is the same put-off-able big purchase as mowers, which is why management speaks about the two in one breath, but most of the work is upkeep on property already owned, so it holds steadier than the rest. Trailers are awkward to get home; the company's own delivery hubs now carry them, and orders in those markets average around $400.
Clothing, Gift & Décor
Workwear, boots, gifts and farmhouse décor: a tenth of sales, flat for three years, while the western specialist Boot Barn grew sales at its existing stores over 7%. The most import-heavy aisle, so tariff costs land here hardest.
Competes with Western and work wear stores (Boot Barn) · Brand-owned stores and websites (Carhartt) · Workwear basics (Walmart)
In plain English
The smallest of the five aisles: work jackets and jeans, boots, western shirts, gifts, and a corner of farmhouse décor called the Red Shed.
It has held at a tenth of sales for three years and gone nowhere, while Boot Barn — the western-and-workwear chain — grew sales at its existing stores by more than seven percent last year. The appetite for this stuff plainly exists; somebody else is capturing it. The answer so far has been newness: a women's line with Molly Yeh, a Halloween décor run that caught on. These goods also carry more than their share of what the company imports, so tariffs bite here first.
Livestock, Equine & AgricultureFeed, hay, animal medicine and fencing — the biggest of the five aisles at 27% of a $15.5B year, and roughly a third of sales in the latest quarter as the discretionary aisles sagged. Watch whether the pounds sold keep growing while prices per bag fall.Feed, hay, animal medicine and fencing — the biggest of the five aisles at 27% of a $15.5B year, and roughly a third of sales in the latest quarter as the discretionary aisles sagged. Watch whether the pounds sold keep growing while prices per bag fall.
In plain English
Animals eat on a schedule, so this aisle sells on a schedule: sacks of horse, cattle and chicken feed, hay, wormers and vaccines, fencing, gates, and live baby chicks in spring.
None of it is optional. Somebody with four horses is back every few weeks, and picks up a hose or a pair of gloves while they are there — which is why this is the aisle that decides how often the parking lot fills. Pounds sold have kept growing across every kind of animal even as the average price per item fell, so the dollars grow more slowly than the trips do.
Competes with Feed and farm aisles (Rural King) · Farm-store aisles (Bomgaars) · Feed counters (Blain's Farm & Fleet)
Owned BrandsTwenty-seven house labels spread across every aisle — Producer's Pride, 4health, Countyline, Ridgecut — about 30% of sales, up from 29%. Field & Stream is on track to pass $100M this year, the fourteenth of them to do it. Each point gained is profit kept.Twenty-seven house labels spread across every aisle — Producer's Pride, 4health, Countyline, Ridgecut — about 30% of sales, up from 29%. Field & Stream is on track to pass $100M this year, the fourteenth of them to do it. Each point gained is profit kept.
In plain English
Look at the shelf and roughly a third of what sits on it carries a name only this chain sells — Producer's Pride feed, 4health dog food, Dumor, Countyline gates, Ridgecut workwear, twenty-seven labels in all.
Store brands work the way a supermarket's own cereal does: the retailer pays a factory to make the goods, puts its own name on them, and keeps more of each dollar that crosses the register. That extra margin is one of the main levers management pulls when costs rise. The catch is trust — feed and dog food are things people are fussy about, and a house label has to earn that.
Competes with Nutrena feed brand (Cargill) · Cody James and Shyanne exclusive brands (Boot Barn) · Store-label pet food (Chewy)
Companion AnimalPet food, treats and pet health at 24% of sales — and the sore spot: its share of a quarter has slid from 28% two years ago to about 21%. Fresh and premium food is where the growth went, and where these shelves were thin.Pet food, treats and pet health at 24% of sales — and the sore spot: its share of a quarter has slid from 28% two years ago to about 21%. Fresh and premium food is where the growth went, and where these shelves were thin.
In plain English
Dog and cat food is the other half of the animal business — kibble, treats, litter, collars, flea and tick medicine — sold in the main stores, online, and in the small Petsense shops.
It ought to be the easy win, since people feed pets in good times and bad. Instead it has been the disappointment. Growth in pet food moved to fresh, refrigerated and premium food, and these shelves were heavy on big bags of dry kibble for big dogs. The fix has been to stock what shoppers moved to — Freshpet coolers, Purina Pro Plan, Hill's Science Diet — while Chewy's subscribe-and-ship habit keeps pulling the repeat order away from stores.
Competes with Autoship pet food (Chewy) · Pet-specialty stores (PetSmart) · Pet aisles (Walmart)
Allivet and VIP PetcareAn online animal pharmacy and a fleet of pop-up vet clinics, bought for about $135M apiece. Together roughly 1% of sales at this year's pace — small so far, and the clearest sign of where management is steering the pet business.An online animal pharmacy and a fleet of pop-up vet clinics, bought for about $135M apiece. Together roughly 1% of sales at this year's pace — small so far, and the clearest sign of where management is steering the pet business.
In plain English
Two small purchases, made a year and a half apart, that together add a pharmacy and a vet to a farm store.
Allivet, bought for $135.0M, fills prescriptions for pets and farm animals by mail — the medicines a vet would normally hand over at the desk — and is licensed to do it in all fifty states. VIP Petcare, bought from the pet company PetIQ for $133.8M, runs clinics on the move: a folding table, a contracted vet and a few hours of appointments outside about 2,700 retail locations, 1,700 of them Tractor Supply stores, seeing more than a million pets a year. Both sell the care around the animal rather than the bag of food.
Competes with Chewy Pharmacy (Chewy) · 1-800-PetMeds (PetMed Express) · Online pet pharmacy (Walmart)
Petsense by Tractor SupplyA 209-store pet chain the company owns, worth maybe 2–3% of sales. In July it approved closing about 75 of them and booked $71.7M of charges, calling what remains a smaller business not directly connected to the core stores.A 209-store pet chain the company owns, worth maybe 2–3% of sales. In July it approved closing about 75 of them and booked $71.7M of charges, calling what remains a smaller business not directly connected to the core stores.
In plain English
A separate chain of small pet shops, about 5,500 square feet each, run under its own name rather than the Tractor Supply sign.
It is a different trip from the big farm store: duck in for a bag of food and a toy instead of loading a truck. That turned out to be the trouble. Around half of Petsense shoppers already shop the main stores, and roughly 75 of the little shops were not covering their own running costs, so in July the company approved closing them and wrote off $71.7M. What survives is meant to be a smaller set of shops that pays its way.
Competes with Neighborhood pet stores (Petco) · Small-format pet stores (PetSmart) · Online refill orders (Chewy)
Seasonal & RecreationMowers, garden centers, grills, generators and outdoor gear — 24% of sales and most of the swing from quarter to quarter. A bad May helped push management to cut its July outlook: sales at stores open a year or more, now -1% to flat.Mowers, garden centers, grills, generators and outdoor gear — 24% of sales and most of the swing from quarter to quarter. A bad May helped push management to cut its July outlook: sales at stores open a year or more, now -1% to flat.
In plain English
Spring is when this aisle wakes up: riding mowers and zero-turns, garden centers full of plants and mulch, grills, generators, heaters, and a hunting-and-outdoors section.
This is the fun money, and it is the first thing a rural household puts off. A mower is a big purchase that can wait another season; a bag of chicken feed cannot. So the whole company's quarter can hinge on the weather — April and June sold fine this year, May did not, and that one month, in the big purchases and spring goods, cost about two points of sales growth at stores already open.
Competes with Outdoor power equipment aisles (The Home Depot) · Lawn and garden aisles (Lowe's) · Seasonal aisles (Fleet Farm)
Truck, Tool & HardwareTrailers, welders, tools, safes and fence hardware at 15% of sales — the steadiest of the five aisles, because it follows repairs on land people already own rather than the housing market. Its bulky goods are what the company's own delivery hubs carry home.Trailers, welders, tools, safes and fence hardware at 15% of sales — the steadiest of the five aisles, because it follows repairs on land people already own rather than the housing market. Its bulky goods are what the company's own delivery hubs carry home.
In plain English
Trailers and hitches, welders, power tools, safes, gate hardware, fasteners sold by the pound — the fix-it-and-haul-it half of the store.
Picture the customer as somebody with land and a to-do list: a gate to hang, a fence to mend, a load to move. Part of it is the same put-off-able big purchase as mowers, which is why management speaks about the two in one breath, but most of the work is upkeep on property already owned, so it holds steadier than the rest. Trailers are awkward to get home; the company's own delivery hubs now carry them, and orders in those markets average around $400.
Competes with Discount tool aisles (Harbor Freight) · Tool and towing gear (Northern Tool + Equipment) · Hardware aisles (Menards)
Clothing, Gift & DécorWorkwear, boots, gifts and farmhouse décor: a tenth of sales, flat for three years, while the western specialist Boot Barn grew sales at its existing stores over 7%. The most import-heavy aisle, so tariff costs land here hardest.Workwear, boots, gifts and farmhouse décor: a tenth of sales, flat for three years, while the western specialist Boot Barn grew sales at its existing stores over 7%. The most import-heavy aisle, so tariff costs land here hardest.
In plain English
The smallest of the five aisles: work jackets and jeans, boots, western shirts, gifts, and a corner of farmhouse décor called the Red Shed.
It has held at a tenth of sales for three years and gone nowhere, while Boot Barn — the western-and-workwear chain — grew sales at its existing stores by more than seven percent last year. The appetite for this stuff plainly exists; somebody else is capturing it. The answer so far has been newness: a women's line with Molly Yeh, a Halloween décor run that caught on. These goods also carry more than their share of what the company imports, so tariffs bite here first.
Competes with Western and work wear stores (Boot Barn) · Brand-owned stores and websites (Carhartt) · Workwear basics (Walmart)
Named in filings, launches and programs
- Neighbor's ClubCustomer programThe three-tier loyalty program more than 80% of sales run through; the company has stopped saying how many members it has.
- TractorSupply.com and the mobile appPlatformOrdering online for pickup or delivery; topped $1.1B in FY2024 and grew double digits in the latest quarter — small beside the stores, growing faster.
- Project FusionServiceThe remodelled store layout, now roughly 60% of the chain, with 160–175 more projects planned for this year.
- Final Mile delivery networkEcosystem · RampingHubs that bring bulky goods home — about 200 last year, 176 more planned; first-half deliveries this year already matched all of last year.
- Tractor Supply Retail Media NetworkPlatform · RampingAdvertising space sold to the brands on its own shelves; revenue was on track to triple last year, though the starting point was never given.
- Direct sales teamService · RampingAbout 50 salespeople serving farms and small businesses out of 375 stores, set to roughly double this year; management stopped mentioning it in July.
- Instacart same-day deliveryCustomer programSame-day delivery from 2,400-plus stores since July 2026, and the exclusive delivery partner for Petsense since August.
- Starlink kitsProductSatellite internet kits sold in stores and online, tied to a rural connectivity alliance with 4-H announced in June 2026.
- Pet WashServiceSelf-serve dog-wash bays at 1,200-plus stores, with usage growing double digits; a free wash is one of the loyalty program's quarterly perks.
- Trailer rentalServiceA full-day trailer rental offered as one of the quarterly credits members in the upper loyalty tiers can pick.
- Freshpet fresh/frozen programProduct line · RampingRefrigerated fresh pet food, in about 250 stores by mid-2026 from roughly 80 early in the year, with 700-plus targeted by year-end.
- Wildlife & Recreation departmentProduct line · RampingHunting and outdoor recreation sections anchored by the Field & Stream brand; conversions raised to about 700 stores for this year.
- Garden Centers and Side LotServiceOutdoor selling space for plants, mulch and live goods — 1,000-plus stores had one by April 2026, against 550-plus in 2024.
- Distribution networkEcosystemTen warehouses of about 7.8M square feet, with an eleventh in Idaho due early in the fourth quarter; its start-up costs weigh on this year's profit.
- Chick Days and Animal DaysCustomer programSeasonal live-bird and pet events used to pull traffic into the stores.
- Hometown HeroesCustomer programBenefits for veterans and first responders, run inside the Neighbor's Club loyalty program.
Neighbor's ClubCustomer program
The three-tier loyalty program more than 80% of sales run through; the company has stopped saying how many members it has.
TractorSupply.com and the mobile appPlatform
Ordering online for pickup or delivery; topped $1.1B in FY2024 and grew double digits in the latest quarter — small beside the stores, growing faster.
Project FusionService
The remodelled store layout, now roughly 60% of the chain, with 160–175 more projects planned for this year.
Final Mile delivery networkEcosystem · Ramping
Hubs that bring bulky goods home — about 200 last year, 176 more planned; first-half deliveries this year already matched all of last year.
Tractor Supply Retail Media NetworkPlatform · Ramping
Advertising space sold to the brands on its own shelves; revenue was on track to triple last year, though the starting point was never given.
Direct sales teamService · Ramping
About 50 salespeople serving farms and small businesses out of 375 stores, set to roughly double this year; management stopped mentioning it in July.
Instacart same-day deliveryCustomer program
Same-day delivery from 2,400-plus stores since July 2026, and the exclusive delivery partner for Petsense since August.
Starlink kitsProduct
Satellite internet kits sold in stores and online, tied to a rural connectivity alliance with 4-H announced in June 2026.
Pet WashService
Self-serve dog-wash bays at 1,200-plus stores, with usage growing double digits; a free wash is one of the loyalty program's quarterly perks.
Trailer rentalService
A full-day trailer rental offered as one of the quarterly credits members in the upper loyalty tiers can pick.
Freshpet fresh/frozen programProduct line · Ramping
Refrigerated fresh pet food, in about 250 stores by mid-2026 from roughly 80 early in the year, with 700-plus targeted by year-end.
Wildlife & Recreation departmentProduct line · Ramping
Hunting and outdoor recreation sections anchored by the Field & Stream brand; conversions raised to about 700 stores for this year.
Garden Centers and Side LotService
Outdoor selling space for plants, mulch and live goods — 1,000-plus stores had one by April 2026, against 550-plus in 2024.
Distribution networkEcosystem
Ten warehouses of about 7.8M square feet, with an eleventh in Idaho due early in the fourth quarter; its start-up costs weigh on this year's profit.
Chick Days and Animal DaysCustomer program
Seasonal live-bird and pet events used to pull traffic into the stores.
Hometown HeroesCustomer program
Benefits for veterans and first responders, run inside the Neighbor's Club loyalty program.