Tractor Supply unveiled their 2030 growth strategy today at an investor presentation. It includes moving into more product offerings and expanding it’s store count to service more geography.
It’s a refresh of their “Life Out Here” strategy that they rolled out in October 2020. Since then, they’ve remodeled about 50% of their stores, completed more than 550 garden centers, and grown digital sales by more than 340%.
Tractor Supply has a rich history and track record of success. Over the last five years, we have delivered strong financial performance and enhanced our competitive advantages through the execution of our Life Out Here strategy. With an expanded total addressable market of $225 billion, we have significant runway for growth
Hal Lawton, President and CEO of Tractor Supply
Tractor Supply previously saw their addressable market as $180 billion. They’ve also added 200 stores to their target store count.
They currently sit at 2,270 stores but see long term growth to 3,200. That growth plan includes opening 90 additional stores in 2025.
Tractor Supply is the largest outdoor lifestyle retailer in the US and has stood out from other retailers in grill sales. They recently started moving more heavily into grills and it’s been a bright spot for their business.