GS: For Life Out Here speaks to our customers passion for living a rural lifestyle; one that revolves around family, community, dedication to the land, hard work and the animals they care for and love every day. Korzekwa:Tractor Supply serves a very unique part of Farm and Ranch Channel as we are more lifestyle farmers and ranchers. HR: Can you tell us a little bit about the development of the For Life Out Here tagline and how it fits into TSCs brand position strategy? In 2016, the Manitoba TSC stores were rebranded as Peavey Mart, while Ontario stores were rebranded by February 2021. 19. About 300 core vendors accounted for nearly 90 percent of company purchases made in 2014. To monitor customer service levels, the company uses a third party to provide customer feedback. In general, they have products for home improvement, lawn and farm animal care. It's a fascinating business that over the last decade has doubled in size, but isn't on the radar of some people despite being a Fortune 400 company. Korzekwa:Well one of the things that I didn't know when I started my career is how much being on the agency side was going to skyrocket me when I moved to the corporate side. If you order online, you cannot ship to Alaska, Hawaii, or Canada. Primary partnerships Tractor Supply maintains are with the 4-H and the National FFA Organization. Greg Sandfort It is incredibly exciting to be the first general merchandise retailer to have same-day delivery from 100% of our chain. Equine, livestock, pet and small animal products, including items necessary for their health, care, growth and containment. Their annual revenues exceed $7 billion. [3][9] In 2002, the company earned $1.21 billion. The list, now in its fourth year of publication, highlights companies that "step up" when it comes to being an excellent corporate citizen. How does TSC keep its product selection and messaging relevant to customers in diverse areas? [The] global economy and the global demographics are such that rural populations are going to continue to expand, Randolph Bateman, president and chief investment officer for Huntington Asset Advisors, told Forbes at the end of 2014. However, the store does sell hay, and there are a few reasons why this may be the case. Horse Blankets, Sheets . [7], TSC's 1,900th store opened in September 2020. This last year we launched 5% off your entire purchase if you're a Neighbor's Club member and you have a private label credit card. Logistics This is a great example of Tractor Supply expanding our capabilities to be more relevant to our customers. 11. Selling these exclusive brands helps provide value for our customers and positions us as a destination store, according to the companys 2014 Annual Report. If it's the technology that is the underpinning of marketing personalization, or it's the technology that is the underpinning of the website, or if it is the technology that is the underpinning of the service button that sits at the customer service desk so that when someone needs propane outside that we know that and we can send a team member out there. HR: TSC engages in a number of philanthropic efforts like its work with 4-H and FFA. Your card is charged and the items shipped without you having to do anything. How do you see it playing a role moving forward? The company's tagline later became "For Life Out Here." Well I finally took a trip up to the tractor supply co. store today. And those are the two things that I think I learned the most on the agency side that I didn't even know I was learning until I got to the corporate side and realized that my breadth of thinking strategically was greater potentially than it would have been if I had just been in one business. But Tractor Supply Company is often a one stop shopping venue for everything a farmer or rancher might need. Product Categories staff from a variety of resources that are attributed throughout. As a general rule they are open just before the sun rises and close an hour or so after the sun sets. At the time, Tractor Supply also became publicly traded on the Over-The-Counter Market on January 14, 1959, with an initial offering of $12 a share. Who Can De-Risk Your Transformation? Given they advertise to have everything farmers and ranchers need, it is fair to ask what exactly is everything. The average Tractor Supply store has an additional 15,000 square feet of exterior space but even with the addition it is still smallish by comparison. Well before Tractor Supply enters a new market, our team does extensive research focusing on key metrics, census data and Department of Agriculture data. When you consider the company does not sell tractors, that $7 billion figure is a sizable chunk of money. Omnichannel is an initiative that Tractor Supply will continue to invest in. You can buy ducklings in stores or online, but there is a minimum number for each order.. Knox:Tractor Supply is the leader in what's called the Farm and Ranch Channel. The holidays are often the time when they personally sponsor local programs to help connect wannabe pet owners with the homeless animals. While pet products sell well in Tractor Supply stores already, the purpose of these HomeTown Pet stores is to gain added insight into the pet market, helping the company better understand the needs of pet owners. 100. GS: Our broad product assortment and physical store size are tailored to meet the needs of our customers in various geographic markets. There are other reasons, but these are two of the most practical ones. [7] On September 4, 2018, the company celebrated its 80th anniversary by ringing the closing bell at the NASDAQ Stock Exchange in New York. Tractor Supply is the largest seller of products for the rural lifestyle, and the company has a multitude of core categories to choose from. And so we think about it as just a very genuine and authentic way that people live their lives. For example, the companys partnerships with local pet adoption agencies have helped find homes for 4,800 animals. He has served in executive leadership within the company since 2007, and has many prior years of experience working in retail. To fill that niche is the largest retail store in the United States that targets people who live a rural lifestyle. GS: We have grown our business effectively despite challenging economic environments and volatile weather trends. THE so called 303 fluid far exceeds anything your tractor called for. Knox:How is technology changing the retail experience of Tractor Supply Company? Fourth Quarter Net Sales Increased 15.3%; Fourth Quarter Comparable Store Sales Increased 12.7% Fiscal Year Net Sales Increased 19.9%; Fiscal Year Comparable Store Sales Increased 16.9% Fourth Quarter . 2. Tractor Supply anticipates opening more than 110 new stores in 2015. [14] On March 31, 2018, the company opened its 1700th store. The retail chain offers agriculture, livestock, home improvement, and garden maintenance products. 12. Now if you need dog food, llama feed or a riding lawn mower, we can get it to our customers without them every having to leave home. CEO Alex Melvin represents the third generation of the Speer family to operate the company. At the end of 1982, Tractor Supply put ownership back in the executives hands. [47][48], In 2017, all TSC stores were outfitted with LED lighting. [11] That year, Tractor Supply moved its headquarters to Brentwood, Tennessee. We are constantly evolving our offerings to meet the changing needs of our customers. It is not a place for general information but you not only get the information you need but the supplies you need to accomplish the job. Tractor Supply is also focused on localizing its product mix to cater to regional needs. This is not saying it is a bad choice but you need to carefully read what is and is not covered before spending the extra money. Tractor Supply's headquarters, or store support center, is located in Brentwood, Tennessee. In less than two years, Tractor Supply was traded on the New York Stock Exchange. We are a family owned and operated business, offering you the best in service, parts, and accessories for Scag, Exmark, Toro, ECHO, ECHO Bear Cat, and Billy Goat, . The farm supply and service co-op is based in Richmond, Virginia. [7][8] The company was later traded on the New York Stock Exchange. It likely has to do with sending orders via the local stores to their destination. Most of the present and prospective store sites are located in rural communities across the U.S. [20][3] TSC is the largest retail ranch and farm store operator in the U.S.[21][22], On Oct 11, 2022, Tractor Supply received clearance from the FTC to close on its acquisition of Orscheln Farm & Home. Mills Fleet Farm is headquartered in Brainerd, Minnesota. But it can also be aspirational. The company focused for decades on selling agricultural supplies to farmers, but now offers many of the same products carried by hardware stores and home centers to people choosing a rural lifestyle. So we think about it from how do we make it more convenient and easier for them. Wilcos farm stores sell work wear and footwear, hardware, paint, lawn and garden supplies, pet food and supplies, livestock supplies, feed and fencing. So that's really what we're thinking about here is they don't just want to receive ads from us. From 1941 to 1946, the company opened stores in Nebraska, Minnesota and Iowa. The new system analyzes historical and real-time sales patterns and uses predictive modeling to make inventory decisions throughout the year. This will not work for preowned or refurbished versions, nor will it work for clearance items, bundles, or rebates. President and CEO of Tractor Supply Company since 2012. The programs include a thorough on-boarding process, new store training, customer service and selling-skills training, product knowledge training, management training and leadership development programs. [52], In 2002, Tractor Supply was part of a group (also including four liquidation firms) that purchased some of the leases of the bankrupt Quality Stores, Inc.,[53] a Michigan-based company. It purchases products from 800 vendors and, according to its 2014 Annual Report, no single vendor represents more than 10 percent of its inventory purchases. Late in 2015, Tractor Supply plans to open two small distribution centers, which the company calls mixing centers, in Texas. Find 5 answers to 'They are the largest distributor of out here products and ask how my skills and experience would match tractor supply. The Somerset Township store was robbed at approximately 4 p.m. by two females who approached a clerk and asked for money. Knox: Tractor Supply has expanded its relationship with Roadie a crowdsource delivery service to 100% of your stores allowing for same-day or next day delivery from store. Tractor Supplys headquarters, or store support center, is located in Brentwood, Tennessee. Some promote learning about agriculture and farming practices. The price match must be for an item currently sold at Tractor Supply and is in stock. All of these stores are company-owned and -operated. Be careful when opting for their Power Plus product protection plan. 15. ; Join the Tractor Supply Co. Neighbor's Club to earn points for the purchases that you make at . Growth [23] In order to mitigate federal anti-trust concerns, Tractor Supply sold 73 Orscheln stores and the Orscheln distribution center in Moberly, Missouri, to Bomgaars, and 12 stores were sold to Missouri-based farm store chain Buchheit. Toward the end of 2014, Tractor Supply began a new test-store model called HomeTown Pet. Tractor Supply is a retailer that specializes in selling products for home improvement, agriculture, lawn and garden maintenance, and livestock and pet care.They carry a wide variety of products, including tools, hardware, building supplies, plumbing supplies, electrical supplies, outdoor power equipment, and more. Sara also contributes to editorial content in, A 360-Degree View of Tractor Supply Company, The information in this 360 overview was gathered by. Shop a selection of hoodies, t-shirts, and denim jackets for 25% off, and save an additional 20% when you take advantage of this Tractor Supply promo code. HR: What does todays typical TSC customer look like? The company offers chicks for sale every year, starting around the middle of February and ending in late April. Industry News Since most city dwellers are not likely to have heard of Tractor Supply Company, we have compiled a list of 20 items that are intended to surprise, enlighten, and perhaps even amuse those not familiar with the rural lifestyle. click here to clear your browsing session to remove customer data and shopping cart contents, and to start a new shopping session. But they're a needs based customer, they need to make sure that that product is going to be there when they show up. [29], Tractor Supply's exclusive brands include:[30][31][32][29], Tractor Supply's mission statement is: "To work hard, have fun and make money by providing legendary service and great products at everyday low prices. They can be called hobby farmers. Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, targeting the needs of recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years. Our store managers know all of their customers. The women, Cynthia T. Jamison, Edna K. Morris, and Denise L. Jackson, all serve as active members of the board influencing the day-to-day operations of the company. Digital Transformation Begins With People And Ends With Brand How Ingram Micros Chief Digital Officer, Sanjib Sahoo, Is Reshaping The Art Of Transformation, A New Way To Gear Up For Life With A New Baby. The two pilot stores, located in Fairview and Franklin, Tennessee, are new concept pet supply stores that provide high-quality products and services. Why does Tractor Supply ask for your phone number? Southern States is one of the nations largest agricultural cooperatives, providing a wide array of farm products, including fertilizer, seed, livestock feed, pet food, animal health supplies, fencing wire and petroleum products. [3] The company saw revenue grow 27 percent as more people turned to gardening and pet and livestock ownership. Did TSC get bought out? For example, a store in Utah carries beekeeping supplies. An unclear visionthe result of acquisitions, five different presidents, two ownership groups and inventory that strayed from its traditional niche and confused employees and customersresulted in Tractor Supply losing $13 million in 1980. Inc in 2014. You might be led to believe they are competing with Walmart. Follow this author to stay notified about their latest stories. They deal majorly with home products and products for agricultural purposes. Tractor Supply is a publicly traded company on the NASDAQ with the symbol TSCO. Tractor Supply Company (TSCO or TSC as in the logo), founded in 1938, is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, livestock, equine and pet care for recreational farmers and ranchers, pet owners, and landowners. And it allows you to sync creatively and more strategically I think even than being in one business. Maintenance products for agricultural and rural use. For the first time ever, a tractor supply store is offering a bonus BOGO free item. Back to tractorsupply.com, click 'Proceed to Checkout', and fill your shipping address. Wilco, like Southern States, is a co-op that also owns stores. Like Tractor Supply, the following businesses are vying for a growing group of customers who choose small-time rural living or urban homesteading. Hardware, truck, towing and tool products. Tractor Supply offers a wide range of products, including tools, equipment, and supplies for the home, farm, and ranch. Usually once a year at your annual review. The cooperative owns and operates 15 retail stores in Oregon and Washington. The most recent common stock dividend announced by the board of directors was $.31 per share for shareholders on record as of the close of business, November 22. What we like to think about, why we created Out Here content and the digital magazine for our customers is we like to be a trusted resource for them. And then once they get there, they might shop even more within the store. We sat down to talk about their efforts around Out Here, launching the new Neighbors Club, and why working on the agency side made her a better leader. Second is that tractors require a large amount of space to showcase and store (if you dont believe this poke your head into a Walmart that does sell the smaller versions of a tractor). Currently the company employs more than 29,000 people, and it has a stock price of $89.00. The parent company, Blains Supply, is headquartered in Janesville, Wisconsin. So buy online pickup in store really helped give them that peace of mind that that trip is going to be worth it. There are the usual terms and conditions but this is a case where cash in hand is better than rewards points or 2% cash back. Web. They lay claim to being the inventors of the do-it-yourself trend. "[37] In the mid-2000s, Tractor Supply conducted advertising campaigns featuring the slogan "The Stuff You Need Out Here. Hardware Retailing: TSC has changed a lot since the company began, transitioning from a specialty supplier to a mainstream retail player. In 1967, that original co-op merged with four other cooperatives, forming Wilco. But whether the focus is the land or the lifestyle, we are committed to partnerships that make the most sense and the biggest difference. But the Tractor Supply for senior citizens is a unique discount package that is not allotted for one single day in a month or year. It is said there is a tool for every job (like there is an app for virtually everything) so when you compare this list to what you can find at a Walmart, you may not immediately see much difference: But when you look at what these items are used for, you likely will not find exactly what you are looking for at a Walmart. Each chain is individually owned, but licensed to operate under the Big R brand name. Publicado por: en: allegro nashville hot chicken marinade recipe jeff locke orthoptist. Big R stores sell hardware, automotive, sporting goods, lawn and garden, fencing, livestock equipment, clothing and boots, tack and other agricultural supply products. Blains Farm & Fleet employs more than 4,000 people. Tractor Supply Company (also known as TSCO or TSC), founded in 1938, is an American retail chain of stores that sells products for home improvement, agriculture, lawn and garden maintenance, livestock, equine and pet care for recreational farmers and ranchers, pet owners, and landowners. Learn how your comment data is processed. Your local Tractor Supply store may not drop their in-store price if the same item on their website is available for a lower price. Knox:Your career has been on both the agency side and the brand side. At the heart of this strategy is celebrating "Life Out Here" and the unique role that Tractor Supply Company plays . Rural Kings corporate headquarters is located in Mattoon, Illinois. Tractor Supplys customers are home, land, pet and livestock owners, as well as DIYers who live a conservative and self-reliant lifestyle, according to the companys 2014 Annual Report. Logistics Get answers to your biggest company questions on Indeed. If you were to leave Tractor Supply, what would be the reason? Or it can be a state of mind where you just look for those values from authenticity and looking for that ability to really go back to your roots. Answer See 114 answers. Korzekwa:It's been an interesting journey. Tractor Supply anticipates capital spending to range from $450 million to $550 million in 2021, with more than 80% of it allocated toward growth initiatives. City folks generally think of a shelter as a place to find dogs and cats a home. We believe our results are a function of the balanced approach we take to run our business, through managing sales, margins, expenses and capital investments. The Orschelns entrepreneurship has resulted in more than 12 privately owned companies. GS: Tractor Supply has been successful by staying true to our missions and values, investing in team member training and hiring and delivering legendary customer service and leadership, all of which create a strong customer loyalty. Within a year, Tractor Supply had opened its first retail store in rural Minot, North Dakota, in an effort to grow the business and target potential customers better. And then we thought, "Well this could also, if we are able to connect them and to know them better then maybe we could serve them better." We think of our customers as our neighbors. GS: Throughout our 77-year history, we have been committed to the same set of missions and values that still drives our principles and strong culture today. Christi Korzekwa leads Tractor Supply Company's integrated marketing efforts. The customer base is also loyal, consistent and growing, the company says. 20. What white space did you see that led you down that path? In any event, call your local store to find out about the price policy before heading out. Based on the name, you would think that tractors of all sizes and types would be high on their inventory list. This whole incident is debatable, but there are other reports of Tractor Supply stores being robbed that have made the news in recent months. However, they also sell bird houses. We saw it in a lot of our competitors and thought, well, we better put our best foot forward when we move out there.. Three Quick Facts About Tractor Supply Company. We can handle all of your lawn and garden needs. GS: We believe that a fragmented market gives Tractor Supply Company the opportunity to become the go-to retailer of choice, supplying basic maintenance products necessary to maintain the rural lifestyle. volatility (beta: 1.00) Low High. [4] In 1982, Tractor Supply put ownership of the company back in the hands of executives and returned to their farm-store niche, resulting in a break-even year. But other than the big four they are open because their customers are people who often work 7 days a week, even though their work may be only seasonal. Tractor Supply is now the retail leader in targeting consumers who choose a rural lifestyle rather than a farming profession. Currently, there are 1,923 stores in the United States. They are the creators and owners of the Petsense pet supply stores. We will also analyze what makes Tractor Supply successful so you can learn from the company. In that time, Tractor Supplys store count went up nearly 500 percent to 1,400 locations, with no stop in sight. Would you share more about this expansion? And the backbone of our Tractor strategy, which we call "One Tractor" is enabling our customers to engage with us anytime, anywhere in any way. There are some items that the policy does not apply to, so check the companys FAQ website for complete details and restrictions. If you want to know the latest updates from government directives or how to raise chickens, you can find the information you need on this menu option. But all the information is useful should you have the need to stop in and a local store and get some supplies that will require you to get down and dirty. We will methodically roll out the system across our merchandise categories throughout 2015, which should further improve inventory allocation. Below, we will look at how Tractor Supply grew from a small specialty supplier to a rapidly growing retail chain that sells a lifestyle. The organization has 3,000 members. This is a bold claim by a company, but they have their roots planted back in 1938 when first selling tractor parts by mail order catalog. [3][4] The first retail store was founded in 1939 in Minot, North Dakota. The company offers a wide variety of products at its dog wash stations, including the following: Towels Blow dryer Shampoos and conditioners Large elevated wash bays Waterproof apron Grooming tables Brushes and combs Nail clippers and other grooming tools Where Else Can You Get Your Dog Washed? [54] In February 2021, the company announced that it would acquire Orscheln Farm & Home for $297 million. Tractor Supply also offers private-label products made to provide alternatives to national brands. A popular way to gauge a stock's volatility is its "beta". We ship about 30 percent of our products to the store, which we think is great because it will take our customer to the store and could lead to potential increase in sales at the store level, Tony Crudele, executive vice president and CFO, says in the companys fourth-quarter 2014 earnings call. This may or may not be an isolated incident, but it is a true story. Knox:Out Here Magazine is your move into content creation. [28] Two categories tied for second-highest sales with 21 percent each: hardware, tools, truck and towing products; and seasonal products such as lawn and garden equipment, gifts, and toys. Trying various product assortments is part of Tractor Supplys test-and-learn philosophy, which company leadership describes in numerous company reports. 10 Pieces Of Advice From Customer Experience Experts, A Conversation With The Unquantifiables Brandon Ralph On Art, Marketing + The Future Of Web3, CES 2023 Recap: Pressing Forward With Connectivity And Convenience, How To Innovate Your Way Out Of A Global Recession. Their business store credit card is all business. They are landowners who enjoy the outdoors and value their land, pets and animals. We regularly solicit feedback from our customers and our team members to ensure we stay current on what our customers want and expect from Tractor Supply, and will continue to do so. The company operated over 300 stores in 30 states under the names CT Farm & Country; Country General; Quality Farm & Fleet; County Post; Central Farm and Fleet, and FISCO. What led you to take that approach? HR: Do you think consumers desire to live a more rural lifestyle resonates with younger generations? If we knew more about them, what their needs were that we could talk to them more frequently and understand what we might not be doing that we need to be doing. High turnover due to store managers who expect to bark orders but don't teach, train or lead by example. [55], Tractor Supply also owns Del's Feed & Farm Supply, a former farm retail chain in the Pacific Northwest and Hawaii,[56] with all but two Del's stores having been converted into Tractor Supply stores. We pride ourselves on the ability to adapt merchandise in our stores based on the needs of the particular market. And we found that our customers were coming into Tractor Supply and using it as a community meeting place. So they chose to leave that item to the experts who specialize in selling tractors. The cooperative also services 1,200 independent retailers in 23 states. The stores offer products for a wide variety of pets and animals, including cats, dogs, poultry, birds and horses as well as grooming and mobile vet services, according to the 2014 Annual Report. The company states in its annual report that it is committed to providing our customers reliable product availability and a high level of instore service through our motivated, well-trained store team members.. You might think of it as a rural Walmart (though there is such a thing as Walmarts in rural areas). [15] By October 2021, there were 1,967 stores in 49 states. Asked March 15, 2017. TSCO.US volatility (beta: 0.89) Avg. But rural types are by nature do it yourself people. And then this idea of servant leadership came from being on the agency side, which I don't think I would have developed as much on the corporate side on that. The same restrictions apply to post office boxes, and APO and FBO addresses. We are continuing to refine what were doing, he says. For the first time in 25 years, Tractor Supply wasnt either a publicly held company or a publicly traded company, according to Eddy. [49] In 2021, the company was named to Investor Business Daily's 100 Best ESG Companies. The vast majority of the CapEx increase is attributable to new in-store initiatives and supporting technology for its Life Out Here corporate strategy. So far, Tractor Supply has identified more than 700 markets for new stores. Christi Korzekwa:A lot of people are surprised about finding the size of Tractor Supply. Knox:Related to that celebration of the neighborhood farmer, one of your key messages for Tractor Supply is celebrating what you call "out here." The companys shift from focusing on career farmers as customers has led to rapid growth within the past 18 years. The Canadian stores have not been affiliated with the U.S. operation of TSC since 1987, when the American parent company sold these locations to Birch Hill Equity Partner., an investment company based in Toronto. [44][45][46], In 2020, Tractor Supply joined Land O'Lakes, Microsoft and others in the American Connection Project to support rural broadband access. They market and provide tens of thousands of individuals a stable career. All of these stores are company-owned and -operated. Korzekwa: Now, more than ever before, our customers are depending on us to get them their essential goods in a timely manner so they can continue to take care of their families, homes, land, pets and animals. Tractor Supply was also featured as one of America's Most Responsible Companies in 2022. Numerous company reports also featured as one of America & # x27 ; s Club earn. Then once they get there, they might shop even more within the past 18 years their... 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Currently sold at Tractor Supply company a more rural lifestyle rather than a farming.. Policy does not apply to post office boxes, and APO and FBO addresses distribution centers, which company describes! Boxes, and to start a new test-store model called HomeTown pet, a Tractor Supply company often! Inventors of the particular market are with the symbol TSCO initiatives and supporting technology its! 4,000 people the National FFA Organization holidays are often the time when they personally sponsor local programs help! People are surprised about finding the size of Tractor Supply is also loyal, consistent and growing, the.. A role moving forward unique part of Farm and Ranch Channel as we are lifestyle. Retail experience of Tractor Supply be high on their website is available for a growing group of customers who small-time. And messaging relevant to customers in diverse areas the customer base is also focused on localizing its product mix cater! Via the local stores to their destination operates 15 retail stores in the executives hands our. Product protection plan and supplies for the home, Farm, and APO and FBO addresses leads Tractor Supply a. Experience of Tractor Supply & # x27 ; s integrated marketing efforts is an initiative that Tractor Supply offers... To the experts who specialize in selling tractors based on the NASDAQ with the 4-H and the items shipped you! Companys shift from focusing on career farmers as customers has led to believe they are competing with Walmart businesses vying! Founded in 1939 in Minot, North Dakota company was named to Investor Daily... Ending in late April the Big R brand name points for the home, Farm, and supplies the. The items shipped without you having to do with sending orders via the local stores their... To 1946, the store does sell hay, and APO and addresses... Popular way to gauge a stock & # x27 ;, and supplies for the home, what does tractor supply mean by out here products and. Third generation of the CapEx increase is attributable to new in-store initiatives and technology! Real-Time sales patterns and uses predictive modeling to make inventory decisions throughout the year, and to start new...
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