Earnings results often indicate what direction a company will take in the months ahead. With Q4 now behind us, let’s have a look at 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 mixed Q4; on average, revenues beat analyst consensus estimates by 1.5%. while next quarter's revenue guidance was 3.3% below consensus. Inflation (despite slowing) has investors prioritizing near-term cash flows, and while some of the specialty retail stocks have fared somewhat better than others, they have not been spared, with share prices declining 6.9% on average since the previous 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 $3.66 billion, down 8.6% year on year, falling short of analyst expectations by 0.5%. It was a mixed quarter for the company, with a decent beat of analysts' gross margin estimates but underwhelming earnings guidance for the full year.

"As we recently marked Tractor Supply’s milestone 85th anniversary, my thanks and appreciation go out to our more than 50,000 Team Members for their dedication to Life Out Here and for living our Mission and Values. While our financial performance in 2023 did not meet our initial expectations, our team successfully navigated a highly dynamic environment with agility, operational resiliency and a focus on our strategic investments. As we exit 2023, our business has never been stronger. Our healthy customer engagement, all time high customer satisfaction scores, peak productivity of our supply chain, technology enhancements and the scaled transformation of our store base all serve as proof points of the strength of our business," said Hal Lawton, President and Chief Executive Officer of Tractor Supply.

Tractor Supply delivered the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. The stock is up 12% since the results and currently trades at $251.65.

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

Best Q4: 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 $506.4 million, up 8% year on year, outperforming analyst expectations by 1.4%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates and optimistic earnings guidance for the full year.

National Vision delivered the fastest revenue growth and highest full-year guidance raise among its peers. The stock is up 2.1% since the results and currently trades at $20.35.

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

Weakest Q4: 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 $1.67 billion, up 6.1% year on year, exceeding analyst expectations by 2.6%. It was a weak quarter for the company, with revenue and EPS guidance for next quarter missing analysts' expectations.

Petco scored the biggest analyst estimates beat in the group. The stock is down 23.8% since the results and currently trades at $1.95.

Read our full analysis of Petco's results here.

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 $174 million, down 10.8% year on year, surpassing analyst expectations by 2.6%. It was a decent quarter for the company, with a solid beat of analysts' revenue estimates but a miss of analysts' gross margin estimates.

Leslie's had the slowest revenue growth among its peers. The stock is down 17.7% since the results and currently trades at $5.62.

Read our full, actionable report on Leslie's here, it's free.

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