secwatch.observer — SEC 8-K summary
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Issuer:     TRACTOR SUPPLY CO /DE/ (TSCO)
CIK:        0000916365
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000916365-23-000087
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tractor Supply Q2 EPS $3.83 (+8.5% YoY); cuts FY23 sales and comp guidance; targets 3,000 stores
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- Q2 net sales +7.2% to $4.18B; comparable store sales +2.5% (prior year +5.5%); diluted EPS $3.83 vs $3.53.
- FY23 guidance lowered: net sales $14.8-14.9B (prev $15.0-15.3B); comp +1.3%-2.5% (prev +3.5%-5.5%); EPS $10.20-10.40 (prev $10.30-10.60).
- New long-term store target of 3,000 U.S. stores (up from 2,800); annual openings to accelerate to ~90/year from 2025, with 80 in 2024.
- Real estate strategy includes owned development and sale-leaseback; expects ~$0.20 after-tax EPS benefit in H2 2023 from sale-leaseback of 10-15 stores.
- Gross margin +69 bps to 36.2%; SG&A as % of sales +77 bps to 22.8% on growth investments and higher medical claims.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/916365/000091636523000087/0000916365-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/916365/000091636523000087/tsco-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000916365-23-000087

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