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Tractor Supply's Remarkable "Life Out Here" Growth Story with CEO Hal Lawton
Tractor Supply's Remarkable "Life Out Here" Growth Story with CEO Hal Lawton
ratings:
Length:
41 minutes
Released:
Nov 1, 2022
Format:
Podcast episode
Description
Our guest this week is Hal Lawton, the President & CEO of Tractor Supply Co, a truly remarkable retailer that has delivered some of the strongest results of any brand during the past few years. We explore Hal's diverse journey from McKinsey, to Home Depot, to eBay, to Macy's and on to Tennesee-based Tractor Supply Company. the nearly 85 year old company that now does over $14 billion in annual sales through over 2,150 stores. We learn about Tractor's "life out here strategy" and the critical distinction between being a lifestyle retailer vs. a category focused brand. We go deep on the strategic benefits of intense customer focus, strong day in and day out execution, not having larger stores, and embracing the blur of digital and physical. Hal also underscores the importance of constant reinvention and how Tractor stays one step ahead of the customer by investing in their stores and rapidly evolving their business model. But first we open with our hot-takes on the past week in retail news, including a surprising US GDP report and how interest rate increases are driving an accelerating slow down in the housing market. We also dig into the very disappointing earnings--and spooky outlook--from Amazon, before turning our attention to Meta, which continues to incinerate cash in its quest to figure out what the Metaverse is. Then we briefly touch on Elon's Twitter takeover and Bed, Bath & Beyond's naming of a "permanent" CEO. About HalHal Lawton has served as President and Chief Executive Officer of Tractor Supply Company since January 2020 and is a member of the Company's Board of Directors. During his tenure at Tractor Supply, Hal has led the Company through a period of unprecedented growth while introducing its Life Out Here strategy to drive sustainable growth.Previously, Hal served as President of Macy’s from September 2017 to December 2019. As President, he had responsibility for all aspects of the Macy’s brand, including merchandising, marketing, stores, operations, technology and consumer insights and analytics. Prior to that, Hal was Senior Vice President, eBay North America from August 2015 to September 2017. In that role, he oversaw all aspects of eBay’s Americas business unit, including marketing, merchandising, operations, business selling, consumer selling and advertising, as well as global responsibility for shipping, payments, risk and trust. Before joining eBay, Hal spent 10 years in various leadership roles at Home Depot, where he most recently was Senior Vice President for merchandising. Hal was responsible for elevating Home Depot’s Internet business. Prior to that, Hal was an associate principal at McKinsey & Co., providing strategic advice to executive teams in consumer-packaged goods and manufacturing industries.Hal holds dual bachelor’s degrees in Chemical Engineering and Pulp and Paper Science Technology from North Carolina State University and a Master of Business Administration from the University of Virginia. Hal has served on the board of Sealed Air (NYSE: SEE) since 2019. He serves on the NRF Board of Directors and is a member of the Business Roundtable.About UsSteve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change fo
Released:
Nov 1, 2022
Format:
Podcast episode
Titles in the series (100)
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