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Tandy Leather Factory, Inc. Reports Record Sales In November; Up 15% Over November 2009

FORT WORTH, Texas, Dec. 2, 2010 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of November were $5.9 million, up 15% from $5.2 million in November 2009. Year to date sales are up 9% to $53.7 million in the current year compared to $49.5 million last year.

Retail Leathercraft's sales rose 20% to $3.2 million compared to November 2009 sales of $2.7 million. The 75 comparable stores' sales were up 19 for the month compared to the same period last year. The one store opened since November 2009 added November sales of $30,000. Year-to-date sales for Retail Leathercraft are $28.7 million this year, a 15% increase over sales of $24.9 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 $2.6 million for November, up 9% from November 2009 sales of $2.3 million. Within the Wholesale Leathercraft division, the wholesale stores' sales were up 7% from last year's November sales while the National Account group's sales were up 23% compared to November 2009. For the year to date, Wholesale Leathercraft sales are $23.5 million compared to $22.8 million in 2009, up 3%. As of the end of November, the wholesale stores' sales were up 5% compared to the same period last year while the National Account group's sales are down 6%.         

International Leathercraft's sales rose 26% to $160,000 in the current month compared to November 2009 sales of $127,000.  Year-to-date sales are $1.5 million this year, a 29% increase over sales of $1.2 million for the same period of 2009. International Leathercraft consists of one store located in the UK.

Chief Executive Officer and President, Jon Thompson, commented, "We set a sales record in November – highest sales in one month in our history – and almost hit the $6 million mark. Sales were solid all month, further strengthened by Black Friday and Saturday. We ran a 24% sales gain in those two days, compared to the same two days last year." 

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