I'm curious how you plan to approach it from a marketing perspective. The environment continues to be uncertain and challenging. Since their rehabilitation in August, they've taken on execution programs like -- executing merchandising programs like center court, end-caps, planogram reset, seasonal programs and sales-driving initiatives. We've hired a new leader for the Petsense business and we are -- we will continue to invest in Petsense as we see opportunities, and we -- it's -- as I said, the business is doing well. Yeah, we are planning for the pet category to continue to remain strong, and to over perform relative to our overall business in the year. This is above our recent run rate as we accelerate our investments in the business. And so, we're very pleased with their reengagement. 719 jobs available in Stillwater, OK on Indeed.com. Certainly, a lot of the commodities are ramping up to record levels we haven't seen in 9 to 10 years. Now, let's go into a little more detail on each of these areas. Yeah. Thank you. Viral search helps Bucs fan track down Chiefs cutout fan he sat next to at Super Bowl, Disney World’s Cinderella Castle lights up to honor Buccaneers win, healthcare workers, Your local Costco photo printing department will close next week. We expanded our in-store and digital capabilities to make it easier and safer to shop at Tractor Supply. Who We Are. In our app, we're now offering on-demand veterinary advice from a team of experienced veterinary professionals. For fiscal 2021, we expect net sales in the range of $10.7 billion to $11 billion. So we're actually seeing that -- the benefit from that a little bit on the tonnage side. Thanks so much. Costs related to the COVID-19 pandemic remain an uncertainty for us in 2020 as our utmost priority remains the health and safety of our team members and our customers. Before we get started, may I ask you to please turn your attention to our Year-in-Review video that can be seen on our webcast. Our stores will be ready for the change of seasons as we move into spring. The adoption of new hobbies like backyard poultry, hunting, gardening and bird feeding have continued. So it is a heavily weighted in the first quarter, with kind of Q2, Q3, Q4 recognizing it will be comping on top of last year's elevated levels, but with still likely strong underlying momentum supporting those quarters. For the fiscal year, we added over $2 billion in revenue, and we reached over $10 billion in sales for the year, a significant milestone for the company. How are you and good morning. It also provides for greater convenience through the expansion of buy-online-pick-up-at-store[Phonetic]. What’s your Florida COVID vaccine eligibility if you’re ‘high-risk’ but not 65? I'm curious if you can provide more color here. Scot Ciccarelli -- RBC Capital Markets -- Analyst. The third is, operate the Tractor Way. Vaccines are on the rise but our country's still very much in the midst of a pandemic. As Kurt mentioned, we have plans in place for an upgrade in our Neighbor's Club loyalty program by mid-year. First, incremental costs related to the COVID-19 pandemic. But with that being said, I was hoping you guys could help us better understand how you went about constructing your top-line expectations and maybe outline a couple of your key inputs or assumptions? Given the size of the store -- our store base, these initiatives representing multi-year opportunity to continually refresh our store base and drive further comp sales. And we're tracking to continue with that at those levels if not higher, as Kurt mentioned in his opening remarks. Thank you, operator. I think on the last call, we talked about poultry and chickens and flocks and how they're a bit of an annuity stream given that they have a 7-8 year lifespan. Tractor Supply Co (NASDAQ:TSCO)Q4 2020 Earnings CallJan 28, 2021, 10:00 a.m. And then, as we start to comp on top of those in Q2 and Q3 and Q4 this year, we do expect that the comps will start to turn to more normal levels. So, like we said in our prepared remarks, we're planning for 2021, and there are a number of scenarios. This is a significant step-up in the team's workload and also is being executed in the midst of COVID. One important thing that I pointed out in our prepared remarks is, we had tremendous upside and benefit in 2020 from the gross margin side of the business. I guess I neglected also -- apologies, is that our marketing campaign that we've been doing the past year -- we have a significant amount of dedicated marketing, both TV and digital devoted to pets and it's systemic, meaning it's always on and we do spike it at certain periods. And so, while we are seeing some container backlog, it all -- we are going to be able to manage through that and get it kind of bent on a normal time-frame, but that's to our benefit. Starting this quarter, pet prescriptions can be fulfilled online at Tractor Supply, as I mentioned earlier. Yeah, this is -- just completing my first year as a CEO of Tractor Supply and so just kind of normal course, kind of stepped back and did a strategic review of Petsense, right at the beginning of the fourth quarter. Authorities closed off parts of the toll road while the aircraft was removed. As we talk -- now shifting and talking about 2021, we believe there is as much uncertainty this year as there was in 2020. Scholar Assignments are your one stop shop for all your assignment help needs.We include a team of writers who are highly experienced and thoroughly vetted to ensure both their expertise and professional behavior. Depreciation expense is estimated to increase approximately $50 million. Karen Short -- Barclays Investment Bank -- Analyst. And thank you everyone for joining us. Second, I do appreciate you guys providing guidance, obviously not easy, given the amount of uncertainty in the environment. Scott Mushkin -- R5 Capital, LLC -- Analyst. Merchandise inventories were $1.8 billion at the end of the fourth quarter, representing an increase of 5.6% in average inventory per store. Hey, guys, and Mary Winn, thanks for letting the call go on a little bit longer and I'll try to be quick. For Tractor Supply, this included purchases such as outdoor recreation living like U-TVs and outdoor fire pits along with all those indoor projects and minimizing their homes and equipment. Yeah, absolutely. Some, we're in the final stages of getting the certificate of occupancy. This call may contain certain forward-looking statements that are subject to significant risk and uncertainties, including the future operating and financial performance of the company. ET. Stock Advisor launched in February of 2002. We're seeing that, by the way, in our trends, specifically dogs, as they get a little older they eat a little more, as they get bigger. It's an experience that will likely never be rivaled. As we look at some of the inflation of this coming year and what we're seeing kind of early on, if you just look at the kind of base commodity markets that are out there, I'd say early reads are steel-based product as well as some of the grain based goods, if you look at those commodity markets, I feel really good about the handle that the team has on the business to be able to manage it accordingly with our tool that we have on the pricing side. Great, thank you. So, let's talk about each one of those in a little more detail. They represent the growth that we had this year, particularly in the midst of the pandemic. It's held very stable. Christie’s puts rare space treasures up for auction. Thank you for your time and attention this morning. Yeah, it's a great question. That's great. And we've contemplated those aspects in our guidance for comp sales as we begin to cycle the COVID lift, that we saw starting in Q2 of 2020, and we anticipate that there's not a meaningful shift from either one as we see it at this point. Got it. Although the Company believes 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, and actual results may differ materially from expectations. 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We spent tens and millions of dollars on cleaning and mask, plexiglass and sanitizer. And what I'd say is that I think the dynamics that are playing out in the market right now, whether it's with customers or vis-a-vis our competitors, those dynamics are really playing to the sweet spots of Tractor Supply. Thanks. And we anticipate this year in 2021 -- as we still have some of that extended pandemic demand before we start to cycle into that that there is benefit on less promotion and clearance. Yeah, hey, Peter, this is Kurt. And so we've now kind of reset our expectations for the new store counts of that business. Why are lines so long at Tampa’s University Mall COVID-19 vaccine site? We anticipate still staying around that range. And also how quickly you think it's going to take the ramp up to optimal productivity levels. And the collectiveness of that will kind of compiled a [Technical Issues] between a minus two and a plus one. Cumulative Growth of a $10,000 Investment in Stock Advisor, Tractor Supply Co (TSCO) Q4 2020 Earnings Call Transcript @themotleyfool #stocks $TSCO, Tractor Supply Co (TSCO) Q1 2020 Earnings Call Transcript, Tractor Supply Co (TSCO) Q3 2018 Earnings Conference Call Transcript, Tractor Supply Beats on Both Top and Bottom Lines, Tractor Supply Hits Estimates in Solid Quarter, Copyright, Trademark and Patent Information. Market data powered by FactSet and Web Financial Group. That's my first question. We added more than 10,000 team members to support the growth of our business. Through that work and then us revisiting our real estate model as a part of that, we made the decision to reduce the long-term store count expectations that we have for that business. This material may not be published, broadcast, rewritten, or redistributed. Are you seeing continued strength and what would you expect in for '21? Michelle, let me just say one thing, if I may. The information contained in this call is accurate only as of the date discussed. Moving on to SG&A. Hey, thanks, good morning. Thanks, Kurt. Hey, Scott. I know we're at the past[Phonetic] of the hour, but we're going to let the call go about 10 minutes longer. Troopers and 18 Miami-Dade Fire Rescue units responded to the scene, of which included the MDFR Technical Rescue Team. My thanks also go out to our supply chain and vendor partners who've done an excellent job supporting our business. We've conducted nearly 20,000 COVID tests, and we rolled out company wide a contact tracing wearable devices for all team members to use. We plan for our spring shipments to arrive earlier than they have historically. Provide DuMOR Chick Grit to young birds beginning at two weeks of age. That's a very significant improvement in unaided brand awareness. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. We're investing in our business through our Life Out Here Strategy. Before I hand the call over to Kurt, I'd like to address the impairment charge we took for the Petsense business. Hope everyone is well and healthy first of all. The leverage from reduced COVID-19 costs and more normalized incentive compensation is expected to be offset by ongoing wage pressures, investments in our supply chain and digital space and higher depreciation and amortization expense. And so they're around their pets. So that's the all around where we are pleased with the 19 million members. We think it's a great sweet spot to allow us to continue to hit those revenue gross targets and to continue to gain on the market share. When you compare that to -- when you compare that productivity opportunity to what your stores typically do today, any sense of what you think that can eventually generate over time? The 46 basis point increase in adjusted SG&A as a percent of net sales was attributable to three primary factors. And that certainly could vary first half versus second half of the year. In Q4, we still saw a bit of a modest level of inflation, less than 100 basis points of commodity inflation into the product cost. Good morning. And as we progress, we'll continue to update you as we see more visibility as things change. Given the time constraints and the number of people who want to participate, we ask that you please limit your questions to one with a quick related follow-up. Once out of the tractor-trailer, the driver was airlifted to the main trauma center. The result was that gross margin as a percentage of sales was 34.6% in the fourth quarter, an increase of 75 basis points. Once again, our quarterly results were remarkably consistent across all periods of the quarter, across all product categories, across all geographic regions of the country. DeSantis calls possible domestic travel restrictions unconstitutional. So the ability to still sign-up those Neighbor's Club's members and gain the millions that we did this year, we're very pleased with. We saw how we ended the year with the inventory above last year. We have not mentioned what percent are buying CUE in their first purchase. What safety precautions are in place to protect Tampa Bay water supply systems? And then, in the winter time, the productivity falls off well below the core of the store. In many cases, these risk and uncertainties are beyond our control. Turning now to our balance sheet, which remains strong. Just kind of curious, your view on that. Yeah, hey, Chuck. #TrafficAlert: Southbound FL Turnpike is currently shutdown at Okeechobee RD due to a crash involving an overturned tractor trailer. And as I mentioned in my opening remarks, we are investing heavily in this category to remain a strong destination for our customers in it, whether it was the release recently of our new Pet Rx solution online, whether it's the roll-out of both the subscriptions in-store to support -- in similar way that we have it online, whether it's the addition of 150 to 200 more pet wash stations this year, and then also to build out a more pet wellness clinic in our stores to support the mobile pet clinics that we have that drive significant engagement with our stores from our customers. We also have a team of customer support agents to deal with every difficulty that you may face when working with us or placing an order on our website. I mean the inventory at some points really felt like it was going hand-to-mouth on to the consumer. So I want to start, Hal, with the new and reengaged customer trends. At these more elevated volume levels, it is a little bit harder to see than what you might see in a normal mid-single digit comp environment. Adjusted net income was $193.2 million, an increase of 34%. We're going to be nimble and have shown in the past that we can shift very well to that. Copyright 2021 Nexstar Inc. All rights reserved. But it's a consistent program that we're doing now so -- first time we've done that -- we've been doing that for about six or nine months. So about 20% of our new customers return and shop with us again within 28 days. As we get closer to the launch of our new Neighbor's Club program, I look forward to sharing more of the details about the changes with you. And then, the benefit that we've seen of that is a significant -- the most customers that we've ever had shop our store in one year last year, including 11 million new customers and 6 million reacquired customers. Your line is open. The daughter of U.S. President Joe Biden and First Lady Jill Biden, she served as the executive director of the Delaware Center for Justice from 2014 to 2019. In addition, we expect incremental cost in Q2 of this year as we support the launch of an upgrade to our Neighbor's Club loyalty program. For the quarter, adjusted operating profit increased nearly 36% with operating profit margin up 9%, an improvement of 29 basis points. pic.twitter.com/X1SJ4udON0. Congratulations on a great year. In addition to rolling out industry leading safety protocols, we've also shown our commitment to our team members through appreciation bonuses, increased wages and broader benefits offerings. Your next question comes from Karen Short from Barclays. Good morning, and thank you everyone for joining us today. And then we'll see where it plays out for the full-year. Our customers can call, chat or email a team of veterinary professionals to get all their pet health questions answered. Now, just stepping back, we're excited about spring. Petsense offers a differentiated shopping experience to the suburban and rural pet owner. Okay, very helpful, and maybe [Indecipherable] over at question for Hal or Seth on the pet trends. And I'll call out a few things that kind of give us that sense. Okay, perfect. As we shared last quarter, there are five pillars to our Life Out Here Strategy. How do you think about -- when we start to lap those in 2021, do you think the pressure will come more from ticket or traffic in terms of the comp comparisons? So I think anywhere, where you've made investments in inventory and you've leaned in there -- anywhere where you're making investments in customer-service, because right now that makes such a big difference in this environment. The search began Friday morning when a boater rescued a Jamaican national who said six others were with him when their vessel overturned on Wednesday 23 miles offshore from Fort Pierce. Once that's all-once, the project is complete and the products in there, we saw really strong engagement with customers and this is in the midst of fall and winter when live goods and assortments are very limited and gardening activities is much less. Second is nurturing our existing new and reengaged customers, and the third is executing our Life Out Here Strategy. Net income is forecast in the range of $750 to $800 million or $6.50 to $6.90 per diluted share. And so whether it's emails that those new customers get or whether it's digital banner ads, where we're retargeting them -- all those sorts of marketing channels and vehicles are being used to engage with these customers and encourage them to reshop with us. While still very early with both of these projects, we continue to be very excited about the sales trends we're seeing from the first tranche of Fusion remodels and Side Lot transformation projects.

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