Tandy Leather Factory, Inc. Reports July 2010 Sales Up 5% Over July 2009
FORT WORTH, Texas, Aug. 5, 2010 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of July were $4.6 million, up 5% from $4.3 million in July 2009. Year to date sales are up 8% to $33.5 million in the current year compared to $30.9 million last year.
Retail Leathercraft's sales rose 12% to $2.5 million compared to July 2009 sales of $2.2 million. The 75 comparable stores' sales were up 11% for the month compared to the same period last year. The one store opened since July 2009 added July sales of $18,000. Year-to-date sales for Retail Leathercraft are $17.8 million this year, a 15% increase over sales of $15.5 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 $1.9 million for July, down 2% from July 2009 sales of $2.0 million. Within the Wholesale Leathercraft division, the wholesale stores' sales were down 2% for the month while the National Account group's sales were down 8% against July 2009. For the year to date, Wholesale Leathercraft sales are $14.8 million compared to $14.4 million in 2009, up 3%. As of the end of July, the wholesale stores' sales were up 5% compared to the same period last year while the National Account group's sales are down 10%.International Leathercraft's sales rose 46% to $153,000 in the current month compared to July 2009 sales of $104,000. Year-to-date sales are $928,000 this year, a 31% increase over sales of $707,000 for the same period of 2009. International Leathercraft consists of one store located in the UK. Chief Executive Officer and President, Jon Thompson, commented, "With 1/3 of the third quarter complete, both our retail division and our U.K. store numbers look great-each reporting double-digit sales gains for the month. And even better than that, the retail stores have run double-digit gains in ten of the last twelve months and the UK store has run double-digit gains for more than two years. While July sales were off on the wholesale side by 2%, the loss was mostly attributable to a handful of stores that were unable to anniversary a couple of sales from last year."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV