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Tractor Supply Co. to Close 74 Petsense Locations. See Where
The retailer will shift spending to remodels and technology after comparable store sales fell 1.5% even as net sales rose 2.3%, CEO Hal Lawton said.
- Tractor Supply announced on Thursday that it will close approximately 75 Petsense stores, roughly 36 percent of its 209-location footprint, while scaling back 2027 expansion plans to 85–90 new locations from 100.
- CEO Hal Lawton cited elevated fuel costs and drought conditions across southeastern markets, noting customers are sensitive to higher gas prices and reduced spending on outdoor-related purchases.
- The Tennessee-based company will redirect capital to remodel existing stores and update technology, aiming to "reinvest back into the core of our business," Lawton said during the earnings call.
- While net sales rose 2.3 percent, Tractor Supply posted a 1.5 percent decline in comparable store sales, prompting the strategic decision to reduce its Petsense portfolio.
- Tractor Supply acquired Petsense for $116 million in 2016. Once closures are complete, the retailer will own 131 locations, five fewer than it held at acquisition.
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Major pet store closing 75 locations nationwide, slowing expansion
A major rural lifestyle retailer is closing dozens of pet stores in its portfolio around the country as it reevaluates both its existing footprint and growth plans.Tractor Supply released its latest earnings report last week and revealed plans to close 75 Petsense locations around the country.The company said in its release that as of late June, there were 209 Petsense by Tractor Supply stores across 23 states."Following a disciplined review of …
·New York, United States
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Coverage Details
Total News Sources17
Leaning Left5Leaning Right1Center8Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 36%
C 57%
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