Tractor Supply Provides Second Quarter 2020 Outlook and Announces Strategic Investments to Position Company for Long-Term Success - Seite 2

The Company will release its second quarter 2020 earnings news release before the market opens on Thursday, July 23, 2020. The Company will hold its second quarter 2020 earnings conference call that day at 9:00 a.m. CT / 10:00 a.m. ET, hosted by Hal Lawton, President and Chief Executive Officer, and Kurt Barton, Executive Vice President – Chief Financial Officer. This event will be webcast live at IR.TractorSupply.com.

Investments in Team Members
Tractor Supply Team Members are the heart of its relationship with its customers, and they have gone above and beyond to support one another and customers during the COVID-19 pandemic.

In this unprecedented time, Tractor Supply has taken significant actions to support its Team Members including additional COVID-19 paid medical leave, 100% coverage of COVID-19 testing and treatment under its medical plan, and the payment of incremental appreciation bonuses estimated to be approximately $30 million between March 16 to June 27. In addition, frontline Team Members at stores are on track to achieve a record payout of sales bonuses with nearly all store teams anticipated to receive sales bonuses in the quarter. As part of the Company’s most ambitious hiring initiative ever, more than 4,000 new Team Member positions have been added over the last six weeks.

As Tractor Supply continues to prioritize the care of its Team Members both during the COVID-19 pandemic and long term, the Company announces the following enhancements to its compensation and benefits for its Team Members:

• Appreciation bonuses of $2 per hour for all frontline hourly Team Members in stores and distribution centers will be continued through June 27, and Store Managers will receive an incremental $1,000 bonus.
• Permanent wage increases for Tractor Supply and Petsense Team Members across its nearly 2,100 stores and eight distribution centers will go into effect on June 28, including a minimum of $1 per hour raise for all hourly Team Members.
• More than 2,000 frontline salaried managers, including Tractor Supply Store Managers and Distribution Center Managers, will receive annual restricted stock units.

Additionally, the Company will now offer a new benefit package for part-time Team Members, including medical, vision and dental coverage, paid sick time and life insurance.