Tractor Supply (TSCO) reported Q3 net sales of $3.91 billion, up 5.1% on new stores, the VIP Petcare acquisition and comparable store sales growth of 0.4%, with September returning to positive comps after a July decline. Diluted EPS fell to $0.43 from $0.49 a year earlier as gross margin dropped 90 basis points to 36.4% on higher transportation and fuel costs and price-value investments. Digital sales rose 16%, and the company reaffirmed full-year adjusted EPS guidance of $1.90 to $2.00. Management plans to moderate capex to below 4% of sales from 2027 and pursue $75 million in SG&A savings over 2027 and 2028, aiming to restore operating margins above 9%.
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