Tandy Leather Factory, Inc. (AMEX: TLF) reported today that sales for the month of March were $5.4 million, up 17% from that of March 2009. Year to date sales are up 9% to $14.6 million in the current year compared to $13.4 million last year. Retail Leathercraft’s sales rose 22% to $2.8 million compared to March 2009 sales of $2.3 million. The 74 comparable stores’ sales were up 20% for the month compared to the same period last year. The two stores opened since March 2009 added March sales of $52,000. Year-to-date sales for Retail Leathercraft are $7.6 million this year, a 15% increase over sales of $6.6 million for the same period of 2009. For the year, the 74 comparable stores’ sales were up 14% compared to sales reported for the same period in 2009. Wholesale Leathercraft posted sales of $2.4 million for March, up 12% from March 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 11% for the month while the National Account group’s sales were up 14% against March 2009. For the year to date, Wholesale Leathercraft sales are $6.6 million compared to $6.3 million in 2009, up 5%. As of the end of March, the wholesale stores’ sales were up 7% compared to the same period last year while the National Account group’s sales are down 8%. International Leathercraft’s sales rose 59% to $153,000 in the current month compared to March 2009 sales of $96,000. Year-to-date sales are $381,000 this year, a 30% increase over sales of $293,000 for the same period of 2009. International Leathercraft consists of one store located in the UK. Chief Executive Officer and President, Jon Thompson, commented, “Our sales results are definitely headed in the right direction so far this year with each month building on the month before. We have said numerous times that creating new customers and servicing existing ones when business is down will pay off eventually. I am pleased to see those efforts on the part of store personnel over the last year or so paying off now with great sales results.”
Shannon L. Greene, Chief Financial Officer, added, “Our first quarter sales have been very strong, and I expect we will see the trend continue into the second quarter as we are working against softer comps from the first half of 2009. The real test will be the last half of the year as the comps get tougher. We will do everything we can to carry the current sales momentum into the latter part of the year but only time will tell if we are successful in that endeavor.”Tandy Leather Factory, Inc., ( http://www.tandyleatherfactory.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces, 76 Tandy Leather retail stores, located in 36 states and 6 Canadian provinces, one combination wholesale/retail store located in the United Kingdom, and Mid-Continent Leather Sales, one store located in Oklahoma. Its common stock trades on the NYSE Amex with the symbol "TLF". To be included on Tandy Leather Factory’s email distribution list, go to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0. This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.