Tandy Leather Factory, Inc. Reports April 2010 Sales Up 11% Over April 2009
Tandy Leather Factory, Inc. (AMEX: TLF) reported today that sales for the month of April were $4.9 million, up 11% from $4.4 million in April 2009. Year to date sales are up 10% to $19.6 million in the current year compared to $17.8 million last year.
Retail Leathercraft’s sales rose 16% to $2.6 million compared to April 2009 sales of $2.2 million. The 74 comparable stores’ sales were up 15% for the month compared to the same period last year. The two stores opened since April 2009 added April sales of $38,000. Year-to-date sales for Retail Leathercraft are $10.2 million this year, a 16% increase over sales of $8.8 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 $2.2 million for April, up 7% from April 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 7% for the month and the National Account group’s sales were up 8% against April 2009. For the year to date, Wholesale Leathercraft sales are $8.9 million compared to $8.4 million in 2009, up 6%. As of the end of April, the wholesale stores’ sales were up 7% compared to the same period last year while the National Account group’s sales are down 4%.
International Leathercraft’s sales rose 39% to $125,000 in the current month compared to April 2009 sales of $90,000. Year-to-date sales are $506,000 this year, a 32% increase over sales of $383,000 for the same period of 2009. International Leathercraft consists of one store located in the UK.Chief Executive Officer and President, Jon Thompson, commented, “All three divisions are producing positive sales results and we are very happy with that. As we indicated last month, keeping that trend going in the last half of the year is going to get more challenging as the numbers get tougher to beat.”
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