Tractor Supply (TSCO) Stock Up 23.3% YTD: Should You Invest?

Core Insights - Tractor Supply is focusing on integrating physical and digital operations to enhance consumer shopping experiences through omnichannel investments [1][6] - The company achieved record digital sales exceeding $1 billion in 2023 and is leveraging AI technologies for improved customer engagement [2][8] - Tractor Supply is expanding its store base, with plans to increase its domestic store count to 2,500 in the long term [7] Omnichannel Strategy - Investments include curbside pickup, same-day and next-day delivery, a revamped website, and a new mobile app [1] - The launch of the Tractor Supply Visa Credit Card allows customers to earn points on purchases [1] Store Expansion and Productivity - In Q1 2024, Tractor Supply opened 17 new stores and completed the rebranding of 81 acquired Orscheln Farm and Home stores [3] - New store productivity in 2023 was nearly 67% of the mature store average, indicating strong performance [3] Project Initiatives - Project Fusion aims to enhance space productivity and customer experience through store remodels and garden center transformations [4] - The Side Lot model transformation is part of the company's significant investments to boost market share and productivity [4] Financial Performance - Tractor Supply has gained 23.3% year-to-date, outperforming the industry which declined by 3.8% [8] - The Zacks Consensus Estimate for 2024 sales is projected at $15 billion, with earnings per share (EPS) expected to be $10.34, reflecting growth of 3% and 2.5% year-over-year respectively [8]