Tractor Supply reported earnings on Thursday, July 23.
The company reported net sales that increased 35.0% to $3.18 billion from $2.35 billion in the second quarter of 2019.
And gross profit came in at $1.16 billion from $820.7 million in the second quarter of 2019.
Jim Cramer himself noted that he is "a huge Tractor Supply customer."
“In a highly dynamic environment, the Tractor Supply team delivered record results for the second quarter. At all levels, our team’s dedication to supporting each other and our customers is a true reflection of Tractor Supply’s Mission and Values in action,” said Hal Lawton, President, and Chief Executive Officer. “Thank you to all of the Tractor Supply Team Members for their resilience and determination during these trying times. We believe our performance in the second quarter demonstrates the strength of our business and long-term growth potential.”
“As we attract new customers and gain market share, now is the time for us to build on Tractor Supply’s Out Here lifestyle assortment and convenient shopping format. Over the last few months, we have successfully rolled out new technology and services such as curbside pickup, same day/next day delivery and our first-ever mobile app," Lawton continued. "We are excited today to announce our Field Activity Support Team (FAST) and several new technology and service enhancements that are being implemented across the enterprise. Additionally, we are beginning work to transform our side lots and mature stores to improve space productivity, bring our latest merchandising strategies to life and advance our efforts to remain nationally strong while locally relevant. These strategic growth initiatives are guided by our commitment to disciplined financial returns and sustained profitable growth.”
So, what does Cramer think about the company?
Watch the video above.