Mad Money w/ Jim Cramer 10/25/24
44:07 Share

In this election, there is politics and there's power. It's our beat and it's about the bottom line. Live from the new. York, washington votes is simple feel.

For all. Story, there's always a more work summer, and I promised to help you find her. They have money starts now.

Hey, i'm cramer. Welcome to make money. Welcome the crame america.

Make friends. I'm just just friends. Make a little money here. My job is not just entertain, but to educate. So call me at one one hundred and seven were three cbc tu B2Carer, make or break.

That's how I always feel about the sweet coming up where we hear from alphabet matter, apple, mixon and amazon. Enjoy red part of the same time because they are trying to give me a heart attack only in that is missing. Thank you, jen.

Oh, and let's throwing that. We have the non foreign wer put on friday. We do what we want. We actually want weak hiring number so the fed can keep cut rates, put IT all together in today's action feels kind of many less even as point five percent to me.

It's just kind of staging for what's gone to be a huge, huge week that you must watch us. So let's go state the game over next week. Money begins more, and I very much want to see them have a clean quarter with no warranties and not too much loss and electric vehicles, although that maybe too much.

As for tuesday, we're going to hear from mcDonald and listeners, you have probably be a full airing of the equal situation, which is taking a turn for the worst cc saying break has grown. There are twenty six new cases is to tell how much dam is being done to the brand and victims. Now look, I think they're be a short term overhang.

But remember, victims has been on fire ever since day and outside five thousand meal deal was really got more excited. All we can stay can stay from the stock. We will know whether there's going to be a moth to the flame situation or whether it's just gonna self.

The rest the year, the great talks to become, but that they're probably in the strongest most label names in the entire entire customer space will be a large beat race when they are on tuesday. They keep doing that the way pid will do terrifically. All three are hot stocks.

I bet all three will main out way and to the close. The playoff attitude shows to the reports. It's tense.

You need to be ready for the excesses of a clean, clean b or at tea IT might be the agony of a forecast cup. Start to see a few this this week. Perfect map now is not been all over the map, but rarely in a good way.

Now we've tried our position in what you know is google for the chavez. Trust is hard to trust, too often out and fails to impress. I is great company, okay, but it's done a great stock because managing open teams in different to the things that investors and Alice want to hear, they really, really talk also about breaking out away more somehow they would ve lost in turn money.

And they don't dry, they don't know, of course. Now, of course, on the road, and that has to change in order for them to show that they are not niche, which is pretty much hell. Elon must describe them in his tesla covert core.

Hey, once a controversy, just say you like AMD as we do for the child of trust. We know that A I is big, big, big, big enough for the more than just one chip mater AMD won't catch in video, but IT will do enough to take chunks of the business. Plus IT has tremens PC exposure writing to see them big PC refresh cycle.

We will buy more AMD in any weakness for the trust because this is a wrong term. Terrific story to Polly reports to without prior nicolas moved into tries of fixed starbuck. I think you probably be fine.

I don't know if I can break out and fifty stocks fields trapped doesn't, but the announcement of a permanent CEO could work some wonders here. Now, wednesday morning, elli, one of our best picks for the travel trust. okay.

And let's had quite a run. Thanks to the G. P. demn. Way of strokes, this one still broke.

Just put out and note, the talks about the impact of these strokes on the food stocks are like pretty much everyone else or the else and the people in the food industry. This guy says going to the food companies negatively. Well, that means is going to impact early possible.

When we walked around the floating platform, the gulf mexico stern, I picked that all the name place on every machine I saw and the product. And when I was caterpillar, which makes solar turbans that we we call turbines, that would power a great deal of activity on the platform. Seven one CEO, mike, worth reminding me.

The gym open be the CEO of kapa actually came that vision cat reports in the morning. I think you could be very, very strong. I just don't know IT will be strong enough to move what has been an incredibly hot stock, if they would, that run up IT.

Won't species that actually gave up some of that up thirty percent for the year? It's close. We got two stores to the max, said we got met a platforms and micro met a porter still in quarter last time.

I think they do IT again because the whole ad market is to be going their way. But microsoft, let's talk copy, may not be as strong as somehow they have to put that story a rest or it's gonna g the stock. And until they come up with a new narrative, here's one, the next big flash.

Every time it's got booking holdings, yes, the old Price line and inspiring sences company didn't have a special court. Then everybody speculates about whether consumers still traveling at the exact same time. Dh reports that there will be very strong and the ship to shit smaller than consumer, then all sorts of traders will start to extract from the results to the fetish s time on our dog bites man stuff don't let me get you thirsty can top wednesday because that's when apple on the amazon report.

Now we've had lots to make your chatter about the iphone sixteen watch. I think that the chat is right. I think people will rush to sell.

I say, hold on. We ve seen this movie before apples had sup up. The more launches before.

The best strategies been to owit. Don't trade IT, I bet to be right again. Now I want you to god yourself for a week number.

Everyone is expecting a weak number. When you get a weak number, guess what? The stock goes down and then you have to buy, be ready to do so.

Amazon's heart people join, just like the last corner in the stock was hammer mercs y because the company, summer got link with eyes of a weak consumer. I don't buy. I the game is doing very well. Of course, a few weeks there from when they reported that so called bag corner stuff was right back to where I was trading before, reported the corner, and that went hard still. If you don't know any again, I don't want you to buy ahead.

You buy IT after we get two drug socks on thursday to be get mark and best mars, this group has been castigated the wrong place to be in the fake title rites from playbook says that I think both socks are too low. But I also know that if we get a week left on friday, burke and best to my two stock, you should not have both. So put that a little respect.

Been plant on the first five of the month, we get the on farm payer report. I can stress how what this number is. We have an upcoming fed, meaning we're now seeing those really missed their numbers because of higher industries lot than rolling over.

But if implement states as straw that has been, then we're going to hear that there will be no november rate cut. Also accept the fact that the ten year year old is going to be a four point five by ten four twenty four point two. I am trying notice a steamer.

I'm trying to steal you because I know there are people who want to sell, but this is a fate rate cut cycle you want to buy. I told you this week was gonna have a playoff atmosphere where you can see the station incredibly high. Finally, here, from two biggest, biggest oil cover shaver on a next site, we just got back from a chevron platform, the gulf mexia.

I got a impressed by the way shepherds be able to return a huge amount of capital. I independence buyback hit, you know way it's so liar is the worst perform in the group if not for that battle over econ with hex on for the house acquisition. I think it's not be quite the heart of this great conventional flow.

X one doesn't have the earnings s power this show on has, but it's got a lot more love right now. I think people should switch their allegiance and like shaft on there's my worth, knows what you doing, but at my usual k you job tune, just please remember the first move been wrong. I take probably maybe almost a half the time since I being, wait the process numbers, listen to the cover school before you pull the treasure.

And if you don't want to do the homework, your self would guess what the shame? Macy, investing clubs, happy to do the heavy lifting for you. And that is bill giving my friend holy that, is that a serious boy? I really more serious to this.

How can I help you listen? Jm, I really, I got some home people and little of concern. This five is, is, is the feder gonna go down. This seems to be very well right now.

Also, i'd like to know will um any um terrace effect of the equipment at home people? Well, i'll tell you what's really just about homework is since the fed rate cut cycle, this has been trading with the ten year. That's how of the suck you have from four twenty, just ten days ago down to three hundred.

No, that is it's being condition dished to be able to buy for the next that i'm not worry about the problem that you mentioned. I do feel that homework is the right start by into a bad rate that cycle. Oh, a big, big, busy weeks like this one are coming up.

Please remember to slow down process in numbers. If you list you Better investing club roight U P, S, might be finally turning things around will not be great with that different in the company. Keep the everyone results up to this nice porter on the E.

S, reTurners. And deckers outdoor was the second best for the day. I'm still closed to look at how the companies and putting its best put forward when reporting hit numbers raised much for sale. So why are investors sending the stock out the pasture i'm hearing from the CEO track by so stay with crime.

Don't miss this second of mad money. Follow at tim cramer on X. Have a question. Tweet, cramer, ash, tag, four, three C, N, A, C, miss something pad to mad money.

Does C, N, B, C, I come? In this election, there is politics and there's power. It's our beat.

And it's about the bottom line line from the new york that exchange sentence. Ces, go in washington, D. C. Your money, your votes. November fifth. C.

A couple weeks ago, I told you, I so little worry about united person service they kind to have of missing expectation. And that is just what we quarters of. So I was surprised anyone when U.

P. S. Lured a Better than expecting, korea said, when they sent the stock up more than five person single session while at the middle gulf of mexico.

I made a note to digg into that quarter. Figure out how the heck U. P, S, turn things around and more important, could determine sustained.

Why do we start with the numbers? Ubs posted higher inspected red, not five point percent year year, the first positive revenue quote number in the eight quarters. Hey, there's a good one.

And the strength hero was broad based, domestic up five point eight percent. International three point four percent. Supply ing solutions, up eight percent.

Of course, the big problem for U P S has been its ability get its cost under control. That's the sticking point. In part because they had to sign an extremely generous contracts with the teams of union.

Last year, team play. This time that of the company had execute origins, which allow them more than a dollar twenty six per share. What was only looking for dollar sixty four? That's big.

rob. Twelve, per your view. Again, pretty on good. Now U P, S, D kind is full year revenue forecasts from ninety three billion, ninety one point one billion, which is a good bit lesson what the nails we're looking for that IT looked but the stocks in get for, I thought I would but there couple is White didn't get first batch ment had a leg explanation.

In the third quarter, U, P, S, completed the sale of coyote logistics that was the Chloe brokers business, so they hadn't take those numbers out of the guides. Well, okay. Second, more important, U P S also raises for your Operating margin.

Al, i'll be IT only slightly from the previous nine point four percent to a new goal of nine point six percent. Again, that is so a big deal because profitability is what this have been struggling with when the cost of last night, C. E.

O. Cota said and i'm little quote, the macro environment was slightly worse than expected in quite was slower online sales in us, and we could then expected manufacturer activity both in the U. S.

And international, which waste on volumes still to may explain that ups overcame that by, quote, leaning into the parts of the market to value their enter and network input through ongoing productivity. Initials, which helped a coste t for the companies s largest, saying with the U. S.

Domestic business manager know the volumes they're flowing back into their network. So now ubs is chasing revenue quality. Not rather, they want the best paying businesses that they can get their hands on and in certain kinds of classrooms are want to pay a higher Price.

U. P, S, is want to charge a higher Price. As result, revenue per peace grew sequences during the quarter and to may expect that trend to continue.

Think of IT like this. Background volumes were limited, something ups was played by for several quarters. They were up, let's say, bigger kippy chooser situation.

They couldn't afford to turn down less proper business and they couldn't afford to demand higher Prices. But now the firms have turn power again, something that happened in the second quarter and picked up during the third quarter. U.

B, S, is a lot more bargeton power, very possible. The court dominic packing sliver Operation for the internal business and management total service improvements with expected residential saturday delivery in the company's eight largest markets. Europe pass fascist over thirty five countries across asia, africa and the police, all reasons grew.

Revenue, year year revenue per piece was up two point five percent. Probably united parts supply change solutions division have noisy y quarter. They got some benefits from their acquisition of m nx.

Global logistics list to member, but the self coyote logistics also wasn't in the estimates yet, and that put down our pressure. The numbers is very confusing. Better way. Meanwhile, a new contract for U.

S, post office air cargo began this quarter, which helped revenue but also heard a profitability for the second as U, P, S, is reconfigure in its air network to hear that business. Putting all of that aside, though, despite chain solutions business saw healthy growth in air and ocean fording, thanks to the brief port strike. But you know what? That's another one off got to be cared for there.

Now looking for we didn't get much out of management, especially when IT comes as they are outlook for twenty twenty five, even as the animals tried very hard to need to something out of them in the call. At one point, the fourth different analyses some version of, hey, how does twenty twenty five to make, just said, simply quote, let us get through the fourth quarter and then will give you our outlook for twenty twenty five. And quote, by the way, when I covering the crucial holiday season to make sound, the confident that ups is well, prepare for this moment because there are only seventeen and fifty days from black friday, Christmas eve this year, he thinks ups has what IT takes to move the right amount of I M in the shortest amount of time.

Always a bit wary for ups. Overall, this was a legitimately strong quarter for the company. Strong and have to overcome the mixed updates to the four year forecast and the lack of any detail what's soever on twenty point five and beyond.

But again, the day I think there's a much similar explanation for why the stock called fire yesterday. Right now, U. P, S is all about trust.

They missed the number so many times the water recently, doesn't believe management anymore. This Marks to be held in our investor where they introduce a long term financial al target. Those targets are great, but the stocks fell often response because the adults don't think of the numbers are chebar.

Then july ups reporters stinker of a core, but that is expected, the business to turn around the second time again, though nobody was willing to give this company, the Better for the doubt. Ubs become to show me stuck. And yesterday, they finally show us when the couple reported a strong quarter.

IT proved that management was right when they predicted to turn around the second year. For me that the best is take away from the court course. Ups steals a lot proof.

For starters. They need to show us that they can deliver a strong holiday court without cost, cai al control, as what IT happens at this time for them. Hopefully I won't let us down actors with the tweet.

Twenty, twenty five forecasts. That's not in my forecast. Let me give you about one. If U. P. S, can keep growing volumes, expected mornings and in general, doing what they say they are going.

The more street will fall in love again with the stock because many twenty twenty six talks and increase both. You also get there, by the way. They just need to keep giving us more reasons to believe they can make me the numbers in the yesterday. I think this ones were betting on their money is back .

in back coming up. Is the post earnings pop in deckers outdoor enough to keep this bird ware company running higher? Cramer digging into the details that.

In this election, there is politics and there is power. It's our beat and it's about the bottom line line from the new york exchange and and washington money. Your votes november fifth, abc.

Even though the foot are and the power space has been chAllen for wana, I repeatedly close to buy deckers outdoor, which joins the trip cost ogg tevis. And then one of the best stories in football hok a i've recommended decor that returned larger. This hole has been taking share and taking names in the neck er space, especially for nike.

So I was gently surprised to see the deckers was the second best performer in the S P five hundred today, climbing sixteen dollars or more than ten percent response. Phenomenal quarter. In fact, the only thing that shocks me here is the fact that animal is actually surprised by these great numbers at all.

Let me use some context with last night's results. Deckers has now beaten earnings expectations for twelve consecutive quarters. And also also call these beats and understand that they they're destroy the other existence. In the last four quarters leading up to the one we got last night, that is amazing. Deckers have beaten expectations by an average of forty five, that's right, four, five percent that they just keep rushing.

And hardly any of the animals seem to be just that's why the stocks been able around one hundred and fifty three percent since the end of twenty twenty two, including a fifty one percent year, year to day. However, if you zoom in on the chart, you can see that the entirety of this huge gains came during the first five months of twenty twenty four. Over the the last one months, you know this stock has been under to say, a lot of pressure, at least until today.

Not doing all the big game, you can see it's been a little erratic. Bb, let me see wild. At first, you can chop the pull back up to simple property decor source shares time over fourteen percent the single day back in may.

Every blow up care, but there they were building, concerned about the health of the consumer and the stock, and run up dramatic, saw a lot of shareholders decide, you know what? Let's just ring the red. Nothing wrong with that in which I deck livered another trip in quarter.

But surely after that, this in Carry trade member, that thing exploded and all stock mark cut, slam a racing. The gain zer over the course of August of testing the stock did manage the grind hire from around one and forty early August to the long one sixty earlier this month. This week, though, we saw something really strange on tuesday, just two days before the quarter, anos brokers from called B, T, I G downgraded deckers, downgraded from biden neutral.

But this nanas words, quote, signs of moderating growth put multiple at risk. And he was speaking about the Price journey now to be feared to the B. T.

I, G. L. This was a hardly devastating danger. They were basically making evaluation call because that. But that downgrade said the stock down five point seven percent over the course on tuesday and wednesday.

He was friday, Frank be the two the illis talked about less buzz for ox heading into the holes. There is always a lot of us possible share loss for a hok a in the running shoe catered theyve been taken share. They argued that with the stock training in a big premiums to assist cal valuation, deckers was vulval from B, T, I, G.

perspective. The risk were just was as good as he used to be. Now I thought they might actually know something I don't. And a short solo did too. But when but that was reported last night that my b race quarter company put up a sizable revenue, beat twenty point one percent growth.

B, T, I G was worried about moderating growth, but that number merely down from twenty two point one in the prior, I guess, mother, I think that much lation and decor only grew in an eighteen point two percent clip in twenty twenty four fish. Later, the Alice collective, we only looking for ten point three percent. They got this one dead wrong.

All their named brand segment speed expectations with only the catch, all other brands in which is a small line and short. B, K, I, G was worried about ogg and hoki, but ogg, wth thirteen percent and hok, was up, stalling thirty four point embers 5。 This brains accelerate.

They make some of the hot issues out there. Of course, their sales are on fire. And David favor war them today, which is an approach of absolutely nothing below the top line deck growth.

Margin came in at fifteen, five, five, five point nine, five point nine at a market improvement from fifty three point for the year before. And I far Better than the fifty two percent of water street was broken for. And we got yet huge r deckers earn adult fifty nine per share, up thirty nine point five percent.

You are here when the anus were looking for a dollar twenty four. Now that is a much your beat. I don't know many that have had that kind of number.

Management also raised their forecast for twenty twenty five, six year, which ends next march. They're talking him at twelve percent revenue, up from ten percent they tracked predicted yet previously. That is boost there, right? They also boosted their margin guys.

And when you come for the reason, six for one, I wish they had done six, four, we wish we I going to been solus. The research was a five for one is sit because it's easier in your mind. But six for one for they did that.

They also took up their earnings per share forecasts substantially. Now even some of these new higher targets are still a little bit of wall streets consensus. But nobody cares because decor is an incredible track record of practicing u pot.

And u poh, you might know, is another promise and over deliver. Just amazed that so many people thought this quarter would be bad, even though decor keeps knocking IT out of the park. The cover school was LED by the first time by the new CEO at Stephen kari, and he's an industry veteran who held senior roles, a puma and nike, for taking taking the decor shop.

Last year. He told an excEllent story of a business that is Frankly firing all soler, who is still seeing excEllent for your post step demand, which is a big part of why you can keep putting up accelerating growth and why the company has such great gross margins. Hoos U.

S. Business was steady with baLanced growth across direct consumer and wholesale. The international business is on fire with strengthen europe and asia in a very encouraging sign.

International direct consumer es are growing faster than international wholesale sales. Deckers makes more money when they can sell direct people may not want to order night of mind. I know you are, they want to do that D, G, C stuff, but doesn't seem to be a problem for oka.

Now crowdy also sounds very happy with August performance, saying literally another quote, I could not be more pleased with the ug brands year to date, results and quo. They used to primarily be a winter brand, but they have made so much progress that is now a strong year round brand. In the end, we got another rockford Beata's raed quarter from deckers, one of my favorite companies in the entire consumer space.

In that Violet dates back to twelve. I just hope you didn't get scared away by that. Well, I just say that profit taking B, T, I, G, downgrade.

I'm being very generous there. Bottom line, from where I sit, this stories as fresh as ever. After today's n one hundred sixty eight, I think techs can keep charging, doing sly all time.

I one hundred four change up in the ten percent from here. After that, you know what? Who knows? I can tell you this though.

I'll only stop being bosh on deckers when the company gives me a reason to stop being bushed. And so far, that hasn't happened. All the shock in your area check.

Yes, jim. Thank you, bro. Thank you. Me once again. Thank you for call and shot. How can I help you? Yes, all you have on a car in june, I spoke with you.

Your thing was to poly and wait as the Price that run up a great deal. This is a small position in our portfolio. What is your opinion acquired additional shares.

Would you hold onto the okay, I was doing to work on IT because they do report next week because, of course, I know i'm a big brian yuko guy. You know what we have, Jackson said you I see no reason why the momentum continue. I want your whole antipolo through the quarter.

Don't worry about. I don traded on this number that comes out this week. Bobbing california.

Bot, hey, jam. How you doing today? I am doing very well. Box, we had such a good time with the staff.

We had rigid dogan hether gains down there in that terrific platform in the golf and world. Fired up. How can that was great? I was great show yesterday.

Thank you very much. I'm calling about A A company have held for the last sixteen years, P, K, G, packaging corporation. Very good to me, jim, very good to me.

Like you've been very good to me. Thank you. Look, you have the best in the the industry.

What's rather amazing is that when this one came out, I remember my gave in the paper business. I didn't I didn't think was real, that special, that was wrong. It's terrific.

You've got a winner. And I think you're saying this trivial words to us about what we do. But i'm not going to stop in poland decor when the company give me a reason to stop import.

This was really a great poor the analyst. Is he coming so far? Nothing but net when IT comes to deck now much where may have on my head and put in my sit down with another one I love, got tractor supply.

Is the post any drop in the rural lifestyle tailer a buying up or maybe something else? Here may be they are out of space all day with the C. E.

O. And is the blood project between tapestry capi? Another example, government over reach. Where is that a win for the consumer? I'm share where I come out and all your calls, rapid friends, and it's just lighting rounds to stay with cramer.

Okay, what are you making these numbers from tractors supply on one of my favorite retail focus on recreation, farmers and ranchers and guard's like me. okay. Yesterday, y tractors by reporters set of mostly in line numbers, although the shape or sales were downright two percent, all SHE was looking for plus point two percent.

Still, management raised the mid point. They're full. Your forecasters cells, same short cells in that they come.

But I guess that wasn't enough to please these the traders. They fell. I think that's mostly because the stock came in too high. Going in to the first place was up thirty six percent for the year.

So could this be the buying Operations? Something truly wrong here? One of the hot stories of let's check in with how much is the presence of tracks by comes to find out if you want bug back to my money.

a gym or at this red me on the day looks like yet a fun time yesterday.

Oh, thank you. yeah. Was really great to be after there is the beauty of the platform of the gulf of best ago. I come back to one of my favorite stories, your company tracks by, and is something that seems have gone viral, which is mess rise by this scale. Rooster, this will be a great halloween season for tractors by.

you know, jim I, our customers love to participate the holiday seasons like the rest of amErica does, but they love you to do IT in the way that consistent with light out here, twenty percent of our customers raised chickens. And so done thus the six bit rooster that has made quite the but quite the val sensation on tiktok this .

year where we have a division in the country IT is very strange. I think this halloween, you glad to tell me, has become the national holiday for the second f the year national, meaning that, look, everybody wants to celebrate.

You know it's the second most spent on uh, holiday in the season. It's a kick off to fall in many ways. And yeah totally agreeement. Customers love to get out. Consumers love to get out. Enjoy the falls season tracks fies a great destination for them, whether it's for their halloween and harvest to core or whether it's for their daily needs, animal feed and pet food, or whether you're getting ready for the fall season and just getting their yards in their home ready, ready for the inevitable winner.

You have a program how what brings people to the store, how much of animals, how much IT is the core. I know close and is as big as i'd like because you know close Better than anybody. But what's getting people to come into track point?

You know, gm r bread and butter is our animal feed and pet thd. They are demand driven, needs based businesses to dry those footsteps into our stores every single day. We're the largest player back to animal feed in the country between the twenty and twenty five percent shared depending on if you talking about echlin feed, livestock feed or pull try feed.

And there were the number five player in in pet as well as you made. You have a thirty seven million plus neither ship program called neighbors club that is a the highly engaged group that shops with this on a weekly and by weekly basis. And we just announced yesterday a deal a an acquisition that hopefully will close shortly of a company called ala that which will be a great integration into our neighbors club program and bring more and more value to those members.

People understand, we've long been using the fed ataturk architecture supply that you have been associated with animal health for a long time. This we slit fand give you Better deal. I think Better the deal than I know I love the guys from chee help, and I think you guys offer a competitive Price yeah.

this is going to be A A very good lucky acquisition for us. IT is a best in class technology platform with a great management team and they make money. And we're going to be able to combine that with our thirty seven million plus member neighbors club program. And eighty eight percent of our customers gym have either a pet or an animal. And so it's just a great combination, a great mass up we look at forward to to bringing affordable pet and animal health .

care to our to our different people from home. And like you will realized how great day is to have a strip of land to do something, whether be just building. You look, I know a lot of people are literally lot of people who decide to take in chickens, and then you have to build a pretty big thing to keep the fox away. But there are those people coming back. Can abandoning the farmers that just here stay .

here to stadium? We've a bit of really a bit big participant, a bit factor of the mobility out to rural america. And the excerpt, it's really where the affordable homes and with interest strate seeming to be higher for longer, it's inevitable that rule in next urban amErica to continue to be the mobility location of choice for for millennial s says they looked to shop and they want to live that life out here.

We're one of the few retailers who try these actions are well above their precoe levels and were one of the few retailers that had positive comes every year since code. And I think that speaks to the fact that we drove a lot of traffic and and engagement into our stores. We've able to maintain that uh, over the last five years.

Now that's a very remarkable figure because most we've all accepted that most are down free download. We we just hope that not down hand down. Well, now how I think you mean to explain to people, and this is something I very quickly realized, I always love my counted the local feedin grain IT was always great to come in to know me.

But you know what, there's a lot of people who want Price. And if you haven't been in a of, you just come to a form. There is a completely different Price attractive supply than the typical of feeding grain, isn't there?

Jm, we have one of the most sophisticated supply chains in all of retail, its purpose built for our business. We moved eight point six billion pounds of food and feeds last year through our supply chain. That gives a significant cost advantage that we're able to pass along to our customers and make life more affordable for them. And so we're proud of the Prices we put we're able to maintain on our feet on our pet food, but also one thinks like fertilizer and grass seed or in the winter time, woods pallets and propane know we are there for our customers on the demand driven needs, space products that they need and no one provides a Better Price than we do on those products.

This what you switch to any thanksgiving, the core people like people like to do their houses for thanksgiving.

You know, it's going to be fast and furious holiday season, and there's probably more unknown in a wider range of of outcomes this holiday that i've seen in my last my twenty five years in retail.

You know on the positive side, you've got an all high stock market, you've got a wealth effect, you've got a strong economy, that on the flip side, you've got obviously the federal election, which creates an an element of anxiety and post poets of spin for customers just because the distraction of nothing else. And then this holiday season, five shorter days than last year, is the shortest holiday selling season you can have between thanksgiving and Christmas. So give me a fun one. Faster, furious.

but less question. What i'm looking at just, you know, we have a lot of of really just back pet food, pet food. But you mention something that I keep period about.

I want to go back to chickens. What is IT about chickens that people discovered? I tried them. Yes, the fox died in the hand house, and they ripped the next one. Fox ripped everybodys neck.

What is IT about chickens that people are believing in? And how and how much do you need to get from practice fied to make IT so that the animals don't get to the check? We think of chickens is almost .

like the third pet for our customers. Twenty percent, as I mentioned earlier, of our customers raised chickens and IT really has to do with kind of that backyard enthusiastic. They're building A A gardie, perhaps a raised background they're doing in the area with their coup and fencing that in.

They've got room for their dogs to run and play. They've got a gril. It's really all about that, that backyard enthusiast.

And that's really when the multiple customers move out to excerpt rural america, that's what they want to create. And there are chickens. They named them. They become a part of their family. At this point, we help our customers live, raise and care for those those chickens, whether that's in protection type things with fencing and the coops or certainly held in the winter, and obviously feed and watering and all those sorts of things you .

need do to raise healthy flaws. Less question, the kinds of things were talking about are not really seasonal. Can they can they overcome a short five day holiday? Sees words, destination traces? Ly, regardless this.

Season while holidays important for us and get we certainly participating gifting in a perl, as you mentioned earlier, or whether it's in our tool sets and you know brady of other ways to call, the thing that matters the most of us is supporting our customers day and day out on the needs they need. They have during the winter time, that wood pellets were the largest soler wood pellets in the country propac.

Our customers rely on both of those for secondary heating. We sell fireplaces and hers. And then all of the things you need, log spit succeed. And that's really where the core of our businesses insulated outerware, all those car heart jackets and hoodies and such. That's really where the bulk of our businesses are in the holiday season.

So we look forward to some cold weather. Here's say, well, all that stuff is get to people to stand to go again forever. I want to thank how about and presentation of tractors supply recover on the show and the this scale is brilliant.

I don't know if ever shares. Brilliant, fantastic, great to see you how. Thank you. Never my back in first.

Coming up, lightning doesn't just strike .

twice in great america. Thank you in my all .

IT strikes every day. Flash with questions next.

Do you plan to say. And then the lighting round is over. Are you ready to the list with.

Time, jim, good afternoon. I've got a quick question on t sm. Um they've got A C D P score of A B with A P E ration thirty two pots.

They show a fifty two week high of two twelve and they're sitting at two or three buy. Some of that is so high all way the numbers turns out, is actually a lower priories mobile. I think this copies the best in the business, are terrific.

They are partner with the invidia. And I think you should own IT Jimmy part jm jima, never to you. Unlike in the koa, my stock is N E P.

You had warned me about the, i'm worrying about diving again. I mean, I think you're division when you get those years fifteen, twenty percent, you know, IT is trouble. There will be people that's kind of Michael teches.

Michael IT is a Michael from textures. My doctors evc o don't fit on fire. People feel like the a testy E V and E V G O and main heaven that people going to go back to E V.

I think that is expect it's losing money and I think it's too high. Let's got an Angel and for the Angel and i'm calling about cock with all the latest new is still a by people like talk. I can tell you I mean, I can tell you that I think they're over region talking about by an intel.

I also think they're on the room side. The trade net lawsuit at the ARM, not a thing. Let's go to no one because that was a conclusion of a lighting .

around the lightning road is sponsored by Charles swap.

Regular viewers know that i'm no fan of the by administrations ftc. I think that is repeatedly ly overreached and become dowa entire bests. Especially that comes to trying to rain in great american copies, copies like amazon.

So because they believe too powerful to be amazon equal axon predict members, the ftc says that knows Better, which is White su amazon for illegally maintaining man up with power. You know, this company is to more than anyone to fight inflation at the time when american's are feeling the pinch from high Price, but is very big. But sometimes the ftc is right.

Not long go. The ftc, through the block, emerge of two women's accessory comply tape through the parent of coach case bid and company, which owns for sochi and Michael horse. Most people who are over time as just step up to buy capri and cell appearance, because that's how the Better is of a deal goes through, makes you money.

I figured, who would block this year? The answer, the fc. Now, initially, I thought that this was still one more foolish effort by the proof of reach out that.

But as I became more familiar with this story, I saw that this merger could raise Prices for a particular category is called the accessible, such affordable luxury segment of the handbag business. Papistry es, coach case, spate are key players and segment as is capital Michael course. Yesterday, a federal court ruled in favor the F, C, and that is a death sentence for the deal.

And good up, but I rather judge. The analysis is show conclusive that this merger could raise the Price of handbag in the category because tapestry and copy are pretty serious. But in many stores, clean maces, where coach and cores are neck and neck, Jeffery net, the mercy macy testified in favor the deal, arguing the Prices would not increase.

I know something you might wider. Why they, if you would even waste their time on something as inconsequences handbags. What's the problem? There are so many different kinds, right? true.

But if you judge IT by the category, accessible, affordable, this is basically the top two dogs getting together, which gives them tremendous pricing power and scale. I mean, I like the agent ftc, but an infection era. I think this particular cases burb, we want affordable as you to be, well, affordable.

And if something makes IT less portal fourball, then you know what direct to block IT. Why do I agree with the findings? Because of tapestry takes out the competition, I think you can raise Prices.

That will I don't know what will happen now. I mean, judging by today's collapse is why I said about its dead capi stock down forty percent. Soring of taps, thirty percent. Now some of that's about the arbaces guys don't want to trace, but I mentioned ruler. But the markets also saying the tapestry shareholder are rejoicing now they can get out the deal, while capture res are very concerned about the business itself troubling itself to become a real prio.

Now you might ask, why even bother Carrying about handbags? And although aren't, think this questioning can just do IT at them, judge gennifer ocean dealt with that directly, saying, and I quote dal playing, the importance of handbags as a nine essential discretionary items that consumers can still be choose not to buy if the Prices too high ignores that handbags are important to many women, not going to express themselves to fashion, but to aid in their daily lives. From supporting their career aspirations by transporting their work materials home, or inspiring confidence of professional cities to hold the important personal items such as medication or personal, to Carrying a Young child stacks or toys at the end the day, I hope I don't have to think about this stuff, because men's close, but we are pockets, but most womens closed down.

So who they can mine to disagree, I like voice market. Summer, I pumped out by just right, need money of requirement. See your money.

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