Tandy Leather Factory, Inc. Reports March 2010 Sales Up 17% Over March 2009
Tandy Leather Factory, Inc. (AMEX: TLF) reported today that sales for the month of March were $5.4 million, up 17% from that of March 2009. Year to date sales are up 9% to $14.6 million in the current year compared to $13.4 million last year.
Retail Leathercraft’s sales rose 22% to $2.8 million compared to March 2009 sales of $2.3 million. The 74 comparable stores’ sales were up 20% for the month compared to the same period last year. The two stores opened since March 2009 added March sales of $52,000. Year-to-date sales for Retail Leathercraft are $7.6 million this year, a 15% increase over sales of $6.6 million for the same period of 2009. For the year, the 74 comparable stores’ sales were up 14% compared to sales reported for the same period in 2009.
Wholesale Leathercraft posted sales of $2.4 million for March, up 12% from March 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 11% for the month while the National Account group’s sales were up 14% against March 2009. For the year to date, Wholesale Leathercraft sales are $6.6 million compared to $6.3 million in 2009, up 5%. As of the end of March, the wholesale stores’ sales were up 7% compared to the same period last year while the National Account group’s sales are down 8%.
International Leathercraft’s sales rose 59% to $153,000 in the current month compared to March 2009 sales of $96,000. Year-to-date sales are $381,000 this year, a 30% increase over sales of $293,000 for the same period of 2009. International Leathercraft consists of one store located in the UK.Chief Executive Officer and President, Jon Thompson, commented, “Our sales results are definitely headed in the right direction so far this year with each month building on the month before. We have said numerous times that creating new customers and servicing existing ones when business is down will pay off eventually. I am pleased to see those efforts on the part of store personnel over the last year or so paying off now with great sales results.”
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