SAN FRANCISCO (Thomson Financial) - Tractor Supply Co. late Wednesday said
it swung to a first-quarter net loss of $1.15 million, or 3 cents a share, from
a year-ago net profit of $5 million, or 12 cents a share.
Net sales for the period ended March 29 increased 2.9% to $576.2 million
from $559.8 million in the prior year's first quarter, while same-store sales
decreased 6.5%.
The mean estimate of analysts polled by Thomson Reuters was for a per-share
profit of a penny on sales of $605 million.
Tractor supply said it now expects 2008 net earnings to be at or slightly
below the low end of its previously provided range of $2.54 to $2.62 a share.
The Brentwood, Tenn.-based company also lowered its fiscal 2008 net sales
forecast to a range of $2.98 billion to $3.04 billion from its previous range of
$3.01 billion to $3.08 billion.
Same-store sales for the year are now expected to be roughly flat to up 2%,
compared with the company's earlier forecast of an increase of around 1% to 3%.
Shares of Tractor Supply closed at $37.49 and fell 9% in after-hours trade.
Gabriel Madway
gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|