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Tandy Leather Factory Reports April 2013 Sales Up 23% Over April 2012

FORT WORTH, Texas, May 9, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of April were $7.3 million, up 23% compared to April 2012 sales of $5.9 million. Year to date sales are up 11% to $26.6 million in the current year from $23.9 million last year.

Retail Leathercraft's sales rose 24% to $4.3 million compared to April 2013 sales of $3.5 million. The 77 comparable stores' sales were up 23% compared to the same period last year. The one store opened after April 2012 added April sales of $50,000. Year-to-date sales for Retail Leathercraft are $15.9 million, a 17% increase over sales of $13.7 million for the same period of 2012. As of the end of April, the 77 comparable stores' sales were up 15% compared to sales reported for the same period in 2012. 

Wholesale Leathercraft posted sales of $2.5 million for April, up 14% compared to April 2012 sales of $2.2 million. Within the Wholesale Leathercraft division, compared to April 2012, the wholesale same store sales were up 13% and the National Account group's sales were up 58%. For the year to date, Wholesale Leathercraft sales are $9.3 million, even with sales for the same period last year. As of the end of April, the wholesale same store sales were up 6% compared to the same period last year and the National Account group's sales were down 58%.       

International Leathercraft reported April sales of $400,000, up 82% compared to April 2012 sales of $219,000. For the year to date, International Leathercraft sales were $1.4 million compared to $954,000 in 2012, up 42%. All three stores in the segment have been opened for both periods, so same store sales for the month and year to date were the same as the segment's sales.  

Chief Executive Officer and President, Jon Thompson, commented, "We have started our second quarter with tremendous momentum. We hosted our third annual open house – a company-wide two-day event – and achieved a 53% sales gain over last year's event. Sales from the event were $1.5 million this year, up from $1 million last year – a clear success. In addition, we were able to achieve the sales without sacrificing gross profit margins."

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