Tractor Supply Shares Fall as Shoppers Limit Pet Spending

Tractor Supply Co. shares fell after saying shoppers spent less on dog treats, collars and chew toys, the latest sign of consumers watching spending as inflation concerns mount.

Sales in its companion animal unit — which also includes pet services and so-called “pet lifestyle” offerings — fell 11% in the first quarter, offsetting double-digit growth in its livestock and seasonal & recreation division.