Tractor Supply Beats First-Quarter Profit Estimates on Easing Costs
Tractor Supply beat Wall Street expectations for first-quarter profit on Thursday, as easing transport costs and steady demand for the farming supplies retailer's pet food and gardening products bolstered its margins.
Demand for the company's products held up as consumers stretched their inflation-constrained budgets to spend on consumables and need-based categories including dog and cat food, fertilizers and other farm supplies.
The company's margins also benefited from its everyday-low-price strategy - which involves offering consistently low prices on its products...
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