Millennials are buying more and more chickens
Joe Weisenthal, Bloomberg News VIDEO SIGN OUT
Hereâs the latest market that Millennials are disrupting: Chickens.
On the companyâs latest earnings call, Tractor Supply Co. Chief Executive Officer Hal Lawton talked about new buyers for poultry in response to a question from Bairdâs Peter Benedict.
Q - Peter Benedict All right. Thanks guys. Hal, I was wondering I want to circle back to the rural revitalization theme you were talking about. And just curious if you had any more data around that. Have you guys learned more about maybe what the populations are doing in your markets? Any data that kind of speak to that? I understand you talked more generally about it, but is there anything else you can share?
10 Words From Tractor Supply's CEO That Could Spell Big Returns for Investors
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Chicken coops for everyone: A rural chain is thriving as millennials flee cities
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We ve been gaining market share with our core customer, but also with the new customer: the millennial customer, Lawton said in a one-on-one with Jim Cramer on Mad Money. We re really seeing a revitalization of rural led by millennials.
After years of facing barriers to entering the housing market, the millennial generation, ranging roughly between ages 25 and 40, has emerged as a large share of first-time homebuyers in recent years. It s led to higher demand for products for pets, poultry, gardening and self-reliance, Lawton said. We saw a 4 point sales penetration change last quarter with the millennial cohort, he said.
Tractor Supply, which operates nearly 2,000 stores and has 42,000 employees, posted results from the first quarter Thursday that were much stronger than expected. The farm equipment supplier, which is valued at $22 billion, saw same-store sales surge 39%, helping produce $2.79 billion in revenue and earnings of $1.55 per share. Sales were up 53% from pre-
Tractor Supply Shares Should Keep Plowing Ahead The charts of the rural lifestyle retailer are nothing but bullish. Stocks quotes in this article: TSCO
Lawton admitted that Tractor Supply may not be a household name, but he noted that his company has more than 1,900 locations nationwide, 30% same-store sales growth and more than 20 million loyalty members.
When asked about growth, Lawton said the company is seeing strength in core customers but also in a whole new generation of younger customers who are embracing a rural, self-reliant lifestyle. Cramer called Tractor Supply one of the most important retailers in the country.
Let s take a trip to our Tractor Supply charts. The last time we reviewed the charts was way back on July 21, 2020, when we wrote, I would want to be a buyer of TSCO, but the question is where and what to risk. If you are willing to risk a close below $130 I could say go long at current levels.