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Hal Lawton Announces Tractor Supply Will Close 74 Petsense Locations to Improve Returns

Tractor Supply Co. CEO Hal Lawton announced that the company will close approximately 74 underperforming Petsense stores across the country. The move follows a disciplined review of the company's pet-exclusive chain, which currently operates 209 locations in 23 states. By shutting down stores that generated negative four-wall cash flow, the company aims to simplify its business and redirect resources toward higher growth opportunities and core retail operations. In addition to the store closures, Hal Lawton noted that the company is slowing its expansion plans, reducing the expected number of new store openings from 100 to approximately 85-90 by 2027. The saved capital will be reinvested into remodeling existing stores, updating technology, and expanding delivery options. Despite a 1.5% decline in comparable store sales, Tractor Supply reported a 2.3% increase in total net sales to $4.54 billion. The administration of the company's leadership noted that high fuel costs and drought conditions in southeastern markets contributed to the recent sales pressure.

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