Reuters: Regulatory News: UPDATE 1-Warm weather drives Tractor Supply's 1st-qtr sales

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Warm weather drives Tractor Supply's 1st-qtr sales Apr 12th 2012, 12:16 Thu Apr 12, 2012 8:16am EDT * Q1 sales $1.02 bln vs est $937.36 mln * Expects Q1 EPS $0.53-$0.55 vs est $0.32 * Raises FY12 EPS outlook to $3.52-$3.60 April 12 (Reuters) - Tractor Supply Co, a farm and ranch products retailer, forecast a better-than-expected first-quarter profit as warmer weather spurred sales of spring merchandise. The Brentwood, Tennessee-based company projected first-quarter earnings of 53-55 cents per share, easily trumping analyst estimates of 32 cents a share, according to Thomson Reuters I/B/E/S. "We believe sales of certain seasonal merchandise categories were pulled forward into the first quarter due to the early spring weather and would not be expected to recur in the second quarter," the company said in a statement. The company posted first-quarter net sales of $1.02 billion, up from $836.6 million last year and above market estimates of $937.36 million. Tractor Supply, which competes with larger rivals like Home Depot Inc, Sears Holdings Corp and Wal-Mart Stores in different segments, raised its full-year profit outlook to between $3.52 per share and $3.60 per share. It had earlier expected $3.38 per share to $3.46 per share. The company expects net sales to come in between $4.61 billion and $4.68 billion, up from its previous forecast of $4.56 billion to $4.66 billion. Analysts, on average, expect full-year earnings of $3.52 a shares on revenue of $4.64 billion. Tractor Supply shares closed at $92.3 on Wednesday on the Nasdaq. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions