Tandy Leather Factory, Inc. Sets Sales Record In December; Sales Up 12% Over December 2009

FORT WORTH, Texas, Jan. 6, 2011 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of December were $6.2 million, up 12% from $5.6 million in December 2009. Year to date sales are up 9% to $59.9 million in the current year compared to $55.0 million last year.

Retail Leathercraft's sales rose 15% to $3.7 million compared to December 2009 sales of $3.2 million. The 75 comparable stores' sales were up 14% for the month compared to the same period last year. The one store opened since December 2009 added December sales of $35,000. For the year, Retail Leathercraft were $32.3 million, a 15% increase over sales of $28.1 million for 2009. The 74 comparable stores' sales were up 14% for the year compared to 2009 sales. 

Wholesale Leathercraft posted sales of $2.4 million for December, up 6% from December 2009 sales of $2.3 million. Within the Wholesale Leathercraft division, the wholesale stores' sales were up 10% from last year's December sales while the National Account group's sales were down 45% compared to December 2009. Wholesale Leathercraft sales were $25.9 million for the year compared to $25.1 million in 2009, up 3%. For the year, the wholesale stores' sales were up 5% compared to last year while the National Account group's sales were down 8%.         

International Leathercraft's sales rose 31% to $148,000 in the current month compared to December 2009 sales of $113,000. Sales for the year were $1.7 million, a 29% increase over sales of $1.3 million for 2009. International Leathercraft consists of one store located in the UK.

Chief Executive Officer and President, Jon Thompson, commented, "We finished the year well – setting new monthly and annual sales records. More than 90% of our stores reported sales gains for the year. By way of comparison, only 75% of our stores reported sales gains in 2009. We certainly like that trend." 

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