All of the key metrics appear to be lining up for Tractor Supply, at least according to its most recent quarterly report.
Howland cited Telsey Advisory Group analysts led by Joseph Feldman, on the elephant in the room: ongoing economic headwinds and the uncertainty presented by tariffs. Feldman was quick to note that the majority of Tractor Supply’s inventory was sourced stateside, with only a small portion (about 12%) coming from direct imports. And with Tractor Supply engaging in a large-scale growth plan involving the opening of new stores (24 having been opened in the second quarter of 2025 alone), extensive remodels, focus on pets (particularly its Petsense by Tractor Supply banner), burgeoning loyalty program and retail media business, and a slew of other initiatives, Feldman and his colleagues saw substantial potential in the retailer’s short-term deliverables.
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