Tractor Supply has reduced its full-year sales outlook after experiencing a challenging second quarter. The farm-and-ranch retailer now anticipates sales to increase between 2.5% and 3.5%, a significant decrease from its previous projection of 4% to 6% growth.

Furthermore, the company expects same-store sales to range from a 1% decline to flat, a downward revision from the earlier forecast of 1% to 3% growth. Tractor Supply's earnings per share guidance has also been lowered to $1.78 to $1.88 (or $1.90 to $2 adjusted), down from the initial expectation of $2.13 to $2.23 per share.

This adjustment falls short of analyst expectations, who, according to Fact Set, were anticipating a 0.4% rise in same-store sales and earnings of $2.03 per share. Despite the revised outlook, Tractor Supply stated it plans to implement measures to enhance future performance.