Gross profit increased 7.4% to $1.17 billion from $1.09 billion in the prior year's third quarter, and gross margin decreased 32 basis points to 35.6% from 36% in the prior year's third quarter.
The company is set to open 75-80 new stores in 2022, including relocating a store this month in Minot, N.D., home of the original Tractor Supply location.
Tractor Supply announced it has entered into an agreement to acquire Orscheln Farm and Home in an all-cash transaction for approximately $297 million, net of acquired estimated future tax benefits of $23 million. Orscheln Farm and Home operates 167 stores located in 11 states
Net sales increased 31.3% to $2.88 billion in the fourth quarter of 2020 from $2.19 billion in the fourth quarter of 2019. Comparable store sales increased 27.3% vs. an increase of 0.1% in the prior year’s fourth quarter.
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