Tractor Supply reported second-quarter net sales of $4.54 billion, up 2.3% year over year, driven by new store openings even as same-store sales declined 1.5%. Net income fell 16.1% to $360.7 million, with GAAP EPS of $0.69 and adjusted EPS around $0.81, while margins showed pressure as ongoing profitability metrics softened. The company also posted a lower operating margin (about 10.3%, down from 13% a year earlier) and weaker free cash flow margin, indicating diminishing profitability despite top-line gains. The retailer opened 28 stores and 3 Petsense locations during the quarter, ending with about 2,672 locations, and signaled plans to close roughly 75 Petsense stores as it integrates VIP Petcare into its animal-health portfolio. Analysts trimmed outlooks, with guidance reflecting a slower earnings trajectory and a lowered full-year EPS target of about $1.83 on a GAAP basis and about $1.90–$2 for adjusted figures. In early trading, shares traded lower as investors weighed the mix of growth from store openings against weaker same-store performance and margin pressures.