- Tractor Supply Co. is an 85-year-old rural retailer that has recently become a Wall Street favorite.
- It owns more than 2,300 midsize stores in rural and suburban areas across the US, and sales are booming.
- The CEO credits millennials for the growth, but the brand appears geared to older, wealthier customers.
Tractor Supply Co. has recently become a darling of Wall Street investors attracted to solid sales growth, healthy profits, and a bright outlook.
The retailer started as a mail order catalog business in 1938. It now has more than 2,300 midsize stores in suburban and rural communities across the US, selling pet and livestock supplies, gardening tools, apparel, and other products you might have once found in a small town’s general store.
CEO Hal Lawton credits the recent sales boom to millennials fleeing from cities to the countryside, but a visit to the store suggests the brand is targeting — and winning — older, wealthier customers.
Insider went to a Tractor Supply Co. location in Wisconsin and found a store that specializes in selling sensibly priced stuff for people with expensive hobbies.
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