Zach Fadem's questions to Tractor Supply Co (TSCO) leadership • Q1 2025
Question
Zach Fadem asked about the financial benefit from sale-leasebacks in Q1 and for an update on new store productivity.
Answer
CFO Kurt Barton reported a $17 million sale-leaseback gain in Q1. He stated that new store productivity remains strong at 62% on a rolling 12-month basis, which is near the company's historical target, and noted that new stores face the same macro headwinds as comparable stores. He also confirmed the Allivet acquisition is contributing as expected.