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Tractor Supply Co TSCO
Q3 2012 Earnings Call Transcript

Transcript Call Date 11/24/2012

Operator: Good afternoon, ladies and gentlemen. Welcome to the Tractor Supply Company's Conference Call to discuss Third Quarter 2012 Results. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. Please be advised that reproduction of this call in whole or in part is not permitted without prior written authorization of Tractor Supply Company. As a reminder, ladies and gentlemen, this conference is being recorded.

I would now like to introduce your host for today's conference, Ms. Jennifer Milan of FTI Consulting. Please go ahead, Leigh.

Jennifer Milan - FTI Consulting: Thank you, Operator. Good afternoon, everyone and thank you for joining us. Before we begin, let me take a moment to reference the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. This conference call may contain forward-looking statements that are subject to significant risks and uncertainties, including the future operating and financial performance of the Company.

Although, the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Important risk factors that could cause actual results to differ materially from those reflected in the forward-looking statements are included in the Company's filings with the Securities and Exchange Commission.

The information contained in this call is accurate only as of the date discussed. Investors should not assume that the statements will remain operative at a later time. Lastly, Tractor Supply Company undertakes no obligation to update any information discussed in this call.

Now, I'm pleased to introduce Jim Wright, Chairman and Chief Executive Officer. Jim, please go ahead.

James F. Wright - Chairman and CEO: Thank you, Jen. Good afternoon everyone, and thank you for joining us on today's call. I am here today with Greg Sandfort, our President and COO and Tony Crudele, our CFO.

We are pleased with our third quarter and year-to-date performance. Each quarter, we continue to build on our momentum, further demonstrating that the structural changes we have made to our business are contributing to our ability to profitably grow Tractor Supply.

Before I turn the call over to Greg, I’d like to comment on our planned leadership transition. As recently announced I’ll be assuming the role of Executive Chairman at the end of year, at which point Greg will take on the role of Chief Executive Officer in addition to his current role as President.

The Board and management have been preparing for Greg’s transition as CEO for some time. With the talented team we have in place, the Board and I believe this is the ideal time to complete this transition.

Having worked closely with Greg for the past five years, I know that we share a deep understanding and belief in a core cultural foundation of Tractor Supply and that we are aligned on Tractor Supply’s business strategies and priorities.

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