Tandy Leather Factory, Inc. Reports September 2010 Sales Up 8% Over September 2009
FORT WORTH, Texas, Oct. 7, 2010 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of September were $4.7 million, up 8% from $4.4 million in September 2009. Year to date sales are up 8% to $42.6 million in the current year compared to $39.4 million last year.
Retail Leathercraft's sales rose 14% to $2.5 million compared to September 2009 sales of $2.2 million. The 75 comparable stores' sales were up 13% for the month compared to the same period last year. The one store opened since September 2009 added September sales of $18,000. Year-to-date sales for Retail Leathercraft are $22.6 million this year, a 15% increase over sales of $19.7 million for the same period of 2009. For the year, the 74 comparable stores' sales were up 13% compared to sales reported for the same period in 2009.
Wholesale Leathercraft posted sales of $2.1 million for September, up 1% from September 2009 sales of $2.0 million. Within the Wholesale Leathercraft division, the wholesale stores' sales were up 2% for the month while the National Account group's sales were down 3% compared to September 2009. For the year to date, Wholesale Leathercraft sales are $18.8 million compared to $18.3 million in 2009, up 3%. As of the end of September, the wholesale stores' sales were up 5% compared to the same period last year while the National Account group's sales are down 7%.International Leathercraft's sales rose 21% to $148,000 in the current month compared to September 2009 sales of $122,000. Year-to-date sales are $1.2 million this year, a 26% increase over sales of $943,000 for the same period of 2009. International Leathercraft consists of one store located in the UK. Chief Executive Officer and President Jon Thompson commented, "September makes our fifteenth month of consecutive sales gains – a great trend. Our Retail Leathercraft division has reported sales gains for twenty-two consecutive months and our International Leathercraft division has reported sales gains every month since we opened the UK store in February 2008. Wholesale Leathercraft has been a little less predictable – although it has reported sales gains in nine of the last twelve months. While trends are certainly not guarantees of things to come, I am pleased with our sales performance."
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