Tractor Supply Company (TSCO Quick QuoteTSCO - Free Report) remains well positioned for growth given its smooth progress on store expansion and technological advancements. In line with its store expansion plans, the company announced the introduction of its 1,600th store in Brentwood, CA. The company plans the gala opening of the store on Feb 4. The new store, which marks a milestone in the company’s growth trajectory, will be situated at 8800 Brentwood Boulevard.

Tractor Supply currently operates across all of the U.S. states except Alaska. In 2016, the company opened 113 stores and had 1,595 stores in 49 states as of Dec 31, 2016. Further, the company remains on track with its strategic expansion plans and expects store growth in mid-single digit in 2017. Also, the new store enables the company to take a step forward to its target of opening 2,500 domestic stores.

We believe that this Zacks Rank #2 (Buy) company continues to progress well with its long-term growth initiatives in order to serve its clients better. The company leverages an extensive network of stores to penetrate into the targeted markets, which enables it to generate healthy sales as well as gain market share. Driven by its growth drivers, the company’s shares have increased nearly 21% in the past three months and have notably outperformed the Zacks categorized Retail-Miscellaneous/Diversified industry’s gain of 7%.

Further, the company will celebrate the gala opening of its new store with a number of events, like participation of community groups. These groups will comprise of local 4-H and FFA chapters, pet and animal rescues as well as produce farmers and community garden organizations, among others. In addition, each group will be provided with activities ranging from interactive Q&A's, local produce tastings and animal exhibits, apart from having its own dedicated booth.

Tractor Supply is the largest operator of farm and ranch stores in the U.S. It has a unique market niche of serving the lifestyle needs of recreational farmers and ranchers as well as tradesmen and small businesses. The company revamped itself by concentrating on square footage growth and maximizing productivity from its existing store base.

Also, Tractor Supply implemented significant changes in its store operations to make them simpler and customer-friendly. In addition, the company witnessed solid comparable sales growth from its new stores, which further boost the company to expand its footmark, alongside improving its merchandise.   We believe these initiatives improve traffic and also boost the top line.

Other Stocks You May Consider

Other favorably ranked stocks in the same industry include Big 5 Sporting Goods Corporation (BGFV Quick QuoteBGFV - Free Report) , Barnes & Noble, Inc. and Cabela's Incorporated .

Big 5 Sporting Goods, with a long-term earnings growth rate of 12%, surged 44.8% in the past six months. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Barnes & Noble, which carries a Zacks Rank #2, gained 20.1% in the past one year. Also, it has a long-term earnings growth rate of 10%.

Cabela's, a Zacks Rank #2 stock, has increased 41.1% in the past one year. Also, it has a long-term earnings growth rate of 12.5%.

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