Tractor Supply Co Builds A New Store
Tractor Supply Co., headquartered in Nashville, recently bought 2.8 acres of land at 1070 W. Randall St. from KAM Properties Inc. Details of the transaction were not released. Stuart Kingma of S.J. Wisinski & Co. represented KAM Properties and Don Kettler of Hahn Inc. did the same for Tractor Supply.
In business since 1938, Tractor Supply has 430 stores in 30 states. Most of the company’s outlets are concentrated in Indiana, Ohio, Tennessee, Texas and Michigan and in rural areas near large cities. Full and part-time farmers and ranchers, along with rural homeowners and contractors, make up the biggest share of the firm’s customer base. The company has 45 stores in Michigan.
Tractor Supply, which began as a mail-order catalog, sells tractor parts and farm supplies such as fencing, animal feeds and medicines, garden products, riding mowers, and work clothes. The company had $1.2 billion in sales last year, a gain of 42 percent from 2001, and $38.8 million in net income for 2002, an increase of 50 percent from the previous year. The chain opened 113 stores last year and has 6,200 employees.
Tractor Supply is traded on NASDAQ under the symbol TSCO. Company Chairman and CEO Joseph Scarlett Jr. owns about 17 percent of the stock.
Tractor Supply also has stores on Chicago Drive in Hudsonville and on 17 Mile Road in Cedar Springs.