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Tandy Leather Factory Reports December Sales Up 5% Over December 2011

Stocks in this article: TLF

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."

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