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    Scott Ciccarelli • Truist Securities

    Scott Ciccarelli's questions to Tractor Supply Co (TSCO) leadership

    Scott Ciccarelli's questions to Tractor Supply Co (TSCO) leadership • Q1 2025

    Question

    Josh Young, on for Scott Ciccarelli, asked about the extent of vendor requests for price increases and whether Tractor Supply has begun passing those costs to consumers.

    Answer

    CEO Hal Lawton clarified that the company is not taking price increases at this time due to market uncertainty. While vendors are incurring higher tariff costs, he expects conversations about managing the value chain to occur in the coming weeks and months, but no pricing action has been taken yet.

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    Scott Ciccarelli's questions to Autozone Inc (AZO) leadership

    Scott Ciccarelli's questions to Autozone Inc (AZO) leadership • Q2 2025

    Question

    Josh Young, on for Scott Ciccarelli at Truist Securities, asked how potentially higher new car prices from tariffs could impact AutoZone's business in calendar 2025, as consumers might opt to repair existing vehicles.

    Answer

    CFO Jamere Jackson agreed that higher vehicle prices historically create a tailwind for the repair business, as consumers hold onto cars longer. Executive Philip Daniele supported this, adding that other key industry drivers, like the increasing average age of vehicles (now 12.6 years) and miles driven, remain favorable for the aftermarket.

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