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Source: Tractor Supply news release

To view the complete report, click here.

Net sales increased 7.0% to $3.32 billion from $3.10 billion in the first six months of 2015. Comparable store sales increased 1.9% versus a 5.7% increase in the first six months of 2015. Gross profit increased 6.9% to $1.14 billion from $1.07 billion and gross margin decreased to 34.4% from 34.5% in the first six months of 2015.

Selling, general and administrative expenses, including depreciation and amortization, increased 7.4% to $786.2 million, and increased as a percent of sales to 23.7% compared to 23.6% for the first six months of 2015.

Net income increased 6.0% to $224.1 million from $211.4 million and net income per diluted share increased 7.8% to $1.66 from $1.54 for the first six months of 2015.

The Company opened 58 new stores and closed four stores, all of which were Del's stores, in the first six months of 2016 compared to 58 new store openings and two store closures during the first six months of 2015.

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