Tractor Supply (TSCO) To Build Frankfort Distribution Center
Zacks Investment Research | Aug 09, 2017 09:57PM ET
In a bid to catch up with the growing digital world, Tractor Supply Company (NASDAQ:TSCO) began the construction of a distribution center in Frankfort, NY. This is also in sync with its expansion strategy. The facility, with an expected size of 930,500 square feet, is anticipated to begin operations by the end of 2018. Located in the Frankfort 5S South Business Park, this facility is anticipated to create over 350 new full-time jobs in more than six years.
The construction of this New York facility is crucial for further expansion in the Northeast Corridor of the country. Further, this facility will aid in satisfying the company’s urge to deliver products to customers quickly and efficiently, by catering to its digital fulfillment strategy.
This new Frankfort facility will mark the company’s eighth distribution center in the country, when it opens doors in late 2018. Currently, Tractor Supply operates seven distribution centers in various locations including Casa Grande, AZ; Franklin, KY; Hagerstown, MD; Macon, GA; Pendleton, IN; Waco, TX; and Waverly, NE. These distribution centers efficiently cater to the fulfillment needs of the company’s 1,630 stores across 49 states.
This new distribution center reinforces our view that Tractor Supply is well on track with growth initiatives, which include expansion of store base and incorporation of technological advancements to induce traffic and drive the top line. Tractor Supply leverages an extensive network of stores to penetrate into target markets, which in turn, enables it to generate healthy sales and gain market share. Evidently, the company remains on track to attain its long-term domestic store growth target of 2,500 stores.
Further, the company is focused on integrating physical and digital operations to offer consumers a seamless shopping experience. In this regard, it remains on track with its “One Tractor” initiative that is aimed at connecting store and online shopping.
However, shares this Zacks Rank #4 (Sell) company have plunged 26.8% on a year-to-date basis, underperforming the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.