A hardware store sells hardware.

A grocery store sells groceries.

Tractor Supply does not sell tractors.

It says so, in its own words, in the annual report it is legally required to file.

The name on the building describes a customer who has largely stopped existing in America. The stores are thriving anyway, more than two and a half thousand of them.

The cheap answer is that the company serves country people who own animals, and serves them better than anyone else bothers to.

That answer is true. It is roughly what the company would tell you at a shareholder meeting.

It is also not the interesting part.

The interesting part is who those country people turned out to be.

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