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Tandy Leather Factory Reports September 2012 Sales Up 7% Over September 2011

Stocks in this article: TLF

FORT WORTH, Texas, Oct. 4, 2012 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of September were $5.4 million, up 7% compared to September 2011 sales of $5.1 million. Year to date sales are up 10% to $52.0 million in the current year from $47.3 million last year.

Retail Leathercraft's sales rose 13% to $3.2 million compared to September 2011 sales of $2.8 million. All 77 stores are considered comparable stores in September, posting a same store sales increase of 13% over the same period last year. Year-to-date sales for Retail Leathercraft are $30.0 million this year, a 14% increase over sales of $26.4 million for the same period of 2011. As of the end of September, the 76 comparable stores' sales were up 13% compared to sales reported for the same period in 2011. 

Wholesale Leathercraft posted sales of $2.0 million for September, down 5% compared to September 2011 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale same store sales were up 3% for the month while the National Account group's sales were down 52% from September 2011. For the year to date, Wholesale Leathercraft sales are $19.7 million compared to $19.4 million in 2011, up 1%. As of the end of September, the wholesale same store sales were up 5% compared to the same period last year and the National Account group's sales are down 35%.       

International Leathercraft reported September sales of $262,000, up 64% compared to September 2011 sales of $160,000. September same store sales, representing the UK store, were up 4% compared to September 2011, while the new Australia and Spain stores, opened in October 2011 and January 2012, respectively, added September sales of $95,000. For the year to date, International Leathercraft sales were $2.3 million compared to $1.5 million in 2011, up 51%. As of the end of September, same store sales were down 2% compared to the sales reported for the same period in 2011.

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