By Sylvia Wier
International Falls — Tractor Supply Co., the Tennessee-based rural-goods retailer, will open a store in International Falls this fall or winter, a company spokesperson said today.
Further details on the location of the store or how many people it will employ weren’t immediately available, said Darias Collins, an outside spokesperson for the retailer at Finn Partners in Nashville.
“This is a great addition to the community on many levels,” said International Falls Mayor Harley Droba. He also noted the ongoing construction of two hotels, a Holiday gas station and a Dunkin’ Donuts. “This just goes to show the community is growing.”
Tractor Supply, which is headquartered in the Nashville suburb of Brentwood, sells products geared toward rural and small-town living. Items include farm and ranch equipment (tillers, saddles, manure spreaders), home, garden and sporting goods, as well as clothing and livestock items (live baby chicks, animal feed).
Nationwide, Tractor Supply has 1,955 stores in 49 states. It also owns Petsense, a pet-specialty supply retailer with 174 locations.
Tractor Supply opened its first store in 1938 in Minot, North Dakota.
On July 19, the publicly-traded company reported second-quarter earnings. Net income rose 9% to $370 million from the year-ago period. Sales rose 13% to $3.6 billion. During the quarter it opened 11 new Tractor Supply stores and one Petsense store, while closing four others.
The company also updated sales and profit guidance its fiscal year 2021. Sales were raised to a range of $12.1 billion to $12.3 billion from a previous range of $11.4 billion to $11.7 billion. Net income was raised to a range of $895 million to $930 million from a previous range of $820 million to $860 million.
As of July 28, the stock closed at $183.49 and is up 31% year-to-date.