Tractor Supply reports Q2 miss, takes $75M in Petsense charges, cuts FY2026 guidance

Filed July 23, 2026 · Period ending July 23, 2026 · ~2 min read

Key Changes

• high

  Q2 comp sales fell 1.5% (vs. +1.5% prior year) on 1.7% transaction decline; net income down 16.1% to $360.7M, diluted EPS $0.69 (adjusted $0.81, flat y/y). Company cited adverse May conditions, softness in seasonal/big-ticket items, lower discretionary spending.

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• high

  Recorded $75.3M in charges: $33.2M goodwill/intangible impairment, $32.6M other impairment/restructuring (including $5.9M inventory write-down), $9.5M VIP Petcare acquisition costs. Restructuring includes planned closure of ~75 Petsense stores.

  Item 2.02 verify on EDGAR →
• high

  Cut FY2026 guidance: net sales +2.5% to +3.5% (from prior framework), comp sales -1% to flat, adjusted operating margin 8.5% to 8.8%, adjusted diluted EPS $1.90 to $2.00. Withdrew long-term financial framework introduced at Dec 2024 Investor Day.

  Item 2.02 verify on EDGAR →