Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. Currently, the company operates 1,881 stores in 49 states, and 180 Petsense stores. Stores are typically located in towns outside of urban areas and in rural communities. Through the end of 2019, revenue consisted primarily of livestock and pet (47%), hardware, tools, and truck (21%), and seasonal gift and toy (20%).
Jaime M. KatzSenior Equity Analyst