Tractor Supply Achieves Store-level Inventory Quantity Visibility and Surpasses 27M Loyalty Members as It Preps for Expansion

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Done Deal: Orscheln Farm and Home

Tractor Supply Company recently closed its acquisition of Orscheln Farm and Home after receiving clearance from the Federal Trade Commission (FTC). The retailer said it’s forecasting fiscal 2022 net sales of $14.06-$14.12 billion including about $75 million in sales from Orscheln, marking the first time in the history the company’s annual sales are forecast to be above $14 billion.

“We are committed to providing customers in the Midwest region with an expanded product assortment, a meaningful loyalty offering and enhanced digital shopping experience, and so much more that Tractor Supply is able to offer,” Lawton said on the call.

The purchase puts Tractor Supply on track to achieve a store base of over 2,100 Tractor Supply locations and a workforce of 50,000 team members.

Tractor Supply Addresses Labor Market With $5 Million Scholarship Program

Lawton noted the labor market continues to remain “very constrained,” and the company expects this will remain the case for the foreseeable future, particularly on the front line. “As we move into next year, the labor market will be a key determiner of our country’s ability to return our economy to sustainable conditions,” he said.

Tractor Supply isn’t resting on its laurels in this area. It announced a new scholarship program through its Foundation to support the next generation of farmers and rural lifestyle careers, including skilled trades.

The retailer will also offer scholarship recipients career opportunities at its stores or distribution centers while they are pursuing their education and will earmark internships at the company’s Store Support Center each year.

Each year for the next five years, the Tractor Supply Foundation will commit $1 million to the FFA Future Leaders Scholarship Fund by Tractor Supply, making it the largest agriculture scholarship fund of its kind. The Tractor Supply Foundation is partnering with the National FFA Organization for the program. The $1 million annual scholarship fund includes:

500,000 for 100 scholarships at trade schools and 2-year colleges for students pursuing a skilled trade with $5,000 scholarships
$500,000 will fund 50 scholarships for students pursuing agriculture-related four-year majors with $10,000 scholarships

“Tractor Supply is very proud to be an integral part of each community that lives and loves the Out Here lifestyle, and we want to do our part to ensure rural communities continue to grow and thrive for future generations,” CMO Kimberley Gardiner said in a press release. “With this scholarship, we can help so many young people overcome financial barriers to pursue the educational opportunities and experiences that are critical to rural America.”

According to the U.S. Bureau of Labor Statistics, jobs in agriculture and food science are expected to grow by 7% from 2018 to 2028. These jobs play an integral and important role in increasing food production to increase yield so that there is enough food to feed the world’s population, which is projected to increase to nearly ten billion people by 2050.

“The strength of America and our food systems depends on vibrant and prosperous rural communities,” said Erin Fitzgerald, CEO of U.S. Farmers & Ranchers in Action. “This historic scholarship program expands on Tractor Supply’s commitment to lighting the path for the next generation of agricultural leaders across the country. As we look to this next decade of agriculture and beyond, Tractor Supply is meeting the moment and demonstrating true leadership in action.”

To support the FFA Future Leaders Scholarship Fund by Tractor Supply, customers will have an opportunity to donate at checkout, either in Tractor Supply stores or online at TractorSupply.com. The first fundraising drive will be held October 26 through November 6, 2022, with the goal of raising $1 million. FFA Future Leaders Scholarship Fund by Tractor Supply will open for applications November 1, 2022 to January 12, 2023. Eligibility is limited to FFA members.