Unpacking Q2 Earnings: Tractor Supply (NASDAQ:TSCO) In The Context Of Other Specialty Retail Stocks

September 10, 2025 at 23:34 PM EDT

TSCO Cover Image

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the specialty retail industry, including Tractor Supply (NASDAQ: TSCO) and its peers.

Some retailers try to sell everything under the sun, while others—appropriately called Specialty Retailers—focus on selling a narrow category and aiming to be exceptional at it. Whether it’s eyeglasses, sporting goods, or beauty and cosmetics, these stores win with depth of product in their category as well as in-store expertise and guidance for shoppers who need it. E-commerce competition exists and waning retail foot traffic impacts these retailers, but the magnitude of the headwinds depends on what they sell and what extra value they provide in their stores.

The 4 specialty retail stocks we track reported a satisfactory Q2. As a group, revenues were in line with analysts’ consensus estimates.

While some specialty retail stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.9% since the latest earnings results.

Tractor Supply (NASDAQ: TSCO)

Started as a mail-order tractor parts business, Tractor Supply (NASDAQ: TSCO) is a retailer of general goods such as agricultural supplies, hardware, and pet food for the rural consumer.

Tractor Supply reported revenues of $4.44 billion, up 4.5% year on year. This print exceeded analysts’ expectations by 0.9%. Overall, it was a satisfactory quarter for the company with a narrow beat of analysts’ EBITDA estimates.

“We are pleased with our second quarter performance, reflecting the continued strength of our core categories and strong execution despite a delayed spring,” said Hal Lawton, President and Chief Executive Officer of Tractor Supply.

Unsurprisingly, the stock is down 1.7% since reporting and currently trades at $58.60.

Is now the time to buy Tractor Supply? Access our full analysis of the earnings results here, it’s free.

Best Q2: National Vision (NASDAQ: EYE)

Operating under multiple brands, National Vision (NYSE: EYE) sells optical products such as eyeglasses and provides optical services such as eye exams.

National Vision reported revenues of $486.4 million, up 7.7% year on year, outperforming analysts’ expectations by 3.5%. The business had an exceptional quarter with a beat of analysts’ EPS and EBITDA estimates.

National Vision pulled off the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 8.9% since reporting. It currently trades at $22.62.

Is now the time to buy National Vision? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Leslie's (NASDAQ: LESL)

Named after founder Philip Leslie, who established the company in 1963, Leslie’s (NASDAQ: LESL) is a retailer that sells pool and spa supplies, equipment, and maintenance services.

Leslie's reported revenues of $500.3 million, down 12.2% year on year, falling short of analysts’ expectations by 4.7%. It was a softer quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ EBITDA estimates.

Leslie's delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update in the group. As expected, the stock is down 7.8% since the results and currently trades at $0.34.

Read our full analysis of Leslie’s results here.

Petco (NASDAQ: WOOF)

Historically known for its window displays of pets for sale or adoption, Petco (NASDAQ: WOOF) is a specialty retailer of pet food and supplies as well as a provider of services such as wellness checks and grooming.

Petco reported revenues of $1.49 billion, down 2.3% year on year. This result was in line with analysts’ expectations. It was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is up 10.8% since reporting and currently trades at $3.58.

Read our full, actionable report on Petco here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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