Tractor Supply to close about 75 underperforming Petsense stores from its 209-location chain
Tractor Supply, the largest rural lifestyle retailer in the U.S., said it will close about 75 underperforming Petsense stores, or 36% of the 209 locations it had as of late June. CEO Hal Lawton disclosed the move on the company’s July 23 earnings call, saying it is intended to improve returns, simplify the business and shift resources toward higher-growth opportunities. The decision signals a pullback in the company’s pet retail strategy and is a negative earnings signal for Tractor Supply (NASDAQ: TSCO).