Brentwood-based Tractor Supply Company had a record fourth quarter, with net income almost 55 percent higher than the same period the year before.
The company saw a nearly 8 percent jump in sales over the previous year. But CEO Jim Wright says the main reasons for the quarter’s strong results were efforts made behind the scenes.
“Throughout the year we maintained disciplined expense control, we tightly managed costs here at our store support center, and in our stores.”
Tractor Supply is in the middle of streamlining the way it gets goods from suppliers and onto shelves. The first phase, which involved setting up a dedicated fleet of trucks, accounted for some of the year’s biggest savings.
In addition, Wright says improvements to the way the company manages inventory meant that fewer items ended up on clearance. For example, he says stores now keep fewer big-ticket items in stock, because shoppers aren’t as interested in buying them. Instead, he says the company is responding to an increased demand for products like animal feed, pellet heaters, and replacement parts for lawn and farm equipment.
On Air - 90.3 WPLN-FM