- Tractor Supply on Thursday reported that Q2 net sales rose 4.5% year over year to $4.4 billion, with store comps up 1.5% — the retailer’s “largest sales quarter ever,” CEO Hal Lawton told analysts. A year ago, the company saw comps drop 0.5%.
- Gross margin expanded to 36.9% from 36.6% last year, as net income rose 1.1% to $430 million. The company reaffirmed its full-year outlook, saying it expects net sales to rise 4% to 8%, comps to be flat or rise as much as 4% and net income to land between $1.07 billion and $1.17 billion.
- In Q2 the retailer opened 24 new Tractor Supply stores and two under the Petsense by Tractor Supply banner, and closed one Petsense by Tractor Supply location. The plan is to open 100 new stores in 2026, with the help of the recent acquisition of 18 Big Lots locations, executives said Thursday.
Tractor Supply to ramp up store openings, with plans for 100 new locations next year | Retail Dive
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A union representing 6,000 rail workers, said its members have voted against ratifying the tentative contract that was brokered between rail companies, unions and the Biden administration in September. The Brotherhood of Railroad Signalmen is the second union to reject the White House-brokered agreement. Earlier this month, the Brotherhood of Maintenance of Way Employees Division of the Teamsters rejected the tentative contract over frustration with compensation and working conditions, with the biggest issue being a lack of paid sick days. The unions that voted down the agreement have vowed to continue negotiations at least until Nov. 19, when a strike could potentially occur, although the timeline is uncertain.
The Village Voice is ending its weekly print product, which has been distributed for free in the New York City area since 1996. Back then, “Craigslist was in its infancy, Google and Facebook weren’t yet glimmers in the eyes of their founders, and alternative weeklies—and newspapers everywhere—were still packed with classified advertising,” Village Voice owner Peter Barbey stated. “Clearly, a lot has changed. That business has moved online—and so has the Voice’s audience, which expects us to do what we do ... every day, across a range of media, from words and pictures to podcasts, video, and even other forms of print publishing.” The alt-weekly paper, founded in 1955 and known for its coverage of New York City’s culture, social and political issues, as well as nightlife, will live online. Click Read More below for more of the story.
The United States Postal Service reported new delivery performance metrics for the first week of the fiscal fourth quarter. The latest numbers show First-Class Mail performance exceeded 93 percent on-time delivery for the 15th consecutive week. For the first week of FY2022 Q4, the average time for the Postal Service to deliver a mailpiece or package across the nation was 2.5 days. FY2022 fourth quarter service performance scores covering July 1 through July 8 included: *First-Class Mail: 94.0 percent of First-Class Mail delivered on time against the USPS service standard, an increase of .5 percentage points with performance from the fiscal third quarter. *Marketing Mail: 93.2 percent of Marketing Mail delivered on time against the USPS service standard, a decrease of 1.4 percentage points from the fiscal third quarter. *Periodicals: 86.9 percent of Periodicals delivered on time against the USPS service standard, an improvement of .5 percentage point from the fiscal third quarter.