Tractor Supply(US:TSCO)2025-07-24 14:00Financial Performance - Net sales increased to $444 billion in Q2 2025, a 45% increase compared to $425 billion in Q2 2024[14] - Comparable sales increased by 15% in Q2 2025, compared to a decrease of 05% in Q2 2024[14] - Gross margin expanded by 31 basis points to 369% in Q2 2025, compared to 366% in Q2 2024[18] - SG&A expenses as a percentage of net sales deleveraged by 51 basis points to 239% in Q2 2025, compared to 234% in Q2 2024[18] - Net income increased by 11% to $430 million in Q2 2025, compared to $4252 million in Q2 2024[22] - Diluted earnings per share increased by 28% to $081 in Q2 2025, compared to $079 in Q2 2024[22] Operational Highlights - Customer retention is at all-time highs[25] - The company now has over 650 garden centers operational[28] - The company achieved its most efficient Q2 in distribution center network history[30] Strategic Initiatives and Outlook - The company is confident in its tariff mitigation strategy and resilient business model[39] - The company has stood up 145 final mile hubs, covering an additional 220 spoke stores, with 15% of stores covered at the halfway point of the year, and an average order value of approximately $400[44] - The company reconfirmed its fiscal year 2025 guidance, including net sales growth of +4% to +8%, comparable store sales growth of +0% to +4%, operating margin rate of 95% to 99%, net income of $107 billion to $117 billion, and diluted earnings per share of $200 to $218[47]