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Tandy Leather Factory Reports November 2013 Sales Up 8% Over November 2012

Stocks in this article: TLF

FORT WORTH, Texas, Dec. 5, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of November were $7.6 million, up 8% compared to November 2012 sales of $7.1 million. Year to date sales are up 9% to $70.9 million in the current year compared to $65.1 million last year.

Retail Leathercraft's sales rose 9% to $4.5 million compared to November 2012 sales of $4.2 million. The 78 comparable stores' sales were up 9% compared to the same period last year. The one store opened after November 2012 added November sales of $13,000. Year-to-date sales for Retail Leathercraft are $42.3 million, a 12% increase over sales of $37.8 million for the same period of 2012. As of the end of November, the comparable stores' sales were up 11% compared to sales reported for the same period in 2012. 

Wholesale Leathercraft posted sales of $2.7 million for November, up 5% compared to November 2012 sales of $2.5 million. Within the Wholesale Leathercraft division, compared to November 2012, wholesale same store sales were up 5% and the National Account group's sales were up 6%. For the year to date, Wholesale Leathercraft sales are $25.0 million, up 3% from last year's sales of $24.4 million. As of the end of November, the wholesale same store sales were up 4% compared to the same period last year and the National Account group's sales were down 23%.       

International Leathercraft reported November sales of $379,000, up 7% compared to November 2012 sales of $353,000. For the year to date, International Leathercraft sales were $3.6 million compared to $2.9 million last year, up 23%. 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 were pleased with our November sales and the beginning of the Christmas shopping season, despite the bleak forecasts for retailers overall. We met our internal sales goals for Black Friday weekend and did so without significant discounting."

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