FORT WORTH, Texas, Jan. 3, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of December were $7.6 million, up 5% compared to December 2011 sales of $7.2 million. 2012 sales are up 10% to $72.7 million in the current year from $66.4 million last year.
Retail Leathercraft's sales rose 9% to $4.8 million compared to December 2011 sales of $4.4 million. The 77 stores comparable stores reported a same store sales increase of 8% over the same period last year, while the one new store opened in November added sales of $42,000. 2012 sales for Retail Leathercraft are $42.6 million this year, a 13% increase over sales of $37.5 million for 2011. For 2012, the 76 comparable stores' sales were up 13% compared to sales reported for 2011.
Wholesale Leathercraft posted sales of $2.5 million for December, down 6% compared to December 2011 sales of $2.7 million. Within the Wholesale Leathercraft division, the wholesale same store sales were up 5% for the month while the National Account group's sales were down 77% from December 2011. For the year, Wholesale Leathercraft sales are $26.9 million compared to $26.7 million for 2011, up 1%. The wholesale same store sales were up 6% for 2012 compared to 2011 and the National Account group's sales are down 44%.International Leathercraft reported December sales of $306,000, up 65% compared to December 2011 sales of $186,000. December same store sales, consisting of the UK and Australia stores, were up 37% compared to December 2011, while the new Spain store, opened in January 2012, added December sales of $52,000. For the year, International Leathercraft sales were $3.2 million compared to $2.1 million in 2011, up 52%. For 2012, same store sales were up 2% compared to sales reported for 2011. Chief Executive Officer and President, Jon Thompson, commented, "We had a strong finish to 2012 and met our sales guidance for the year. We also set a new monthly and annual sales record and we are certainly proud of that accomplishment, given the economic environment. Our stores, domestic and international, are performing well."
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV