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Banking Tandy Leather Factory sets monthly sales record

Tandy Leather Factory sets monthly sales record

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Tandy Leather Factory Inc. has reported $9.3 million in December 2016 sales, setting a monthly sales record as the Fort Worth firm records 2 percent more sales compared to $9.1 million the same month in the prior year.

The December sales figure mark the firm’s eighth consecutive year of year-over-year growth for the month.

“While it has been a year marked with some uncertainty, we finished the year on a strong note,” said CEO Shannon Greene, commenting in a news release.

“We appreciate all of the efforts from our employees and the continued support of our customers,” Greene said.

Meanwhile, the company plans to discontinue its monthly sales disclosures effective immediately, according to Mark Angus, company president.

“Rather, we believe reporting sales on a quarterly basis reduces the intra-period volatility related to events such as calendar shifts and aligns with our longer-term view to build shareholder value,” Angus said.

Year over year, the company reported 2016 sales of $83.2 million as down 1 percent compared to 2015 sales of $84.4 million.

Retail Leathercraft sales rose 3 percent to $6.2 million compared to December 2015 sales of $6.0 million. The 80 comparable stores’ sales rose 3 perent for the month compared to the same period last year. Retail Leathercraft yearly sales totaled $53.9 million, unchanged from 2015 sales.

Wholesale Leathercraft posted sales of $2.6 million for December 2016, down 3 percent or $85,000, compared to December 2015 sales of $2.7 million. Same-store sales for the division dropped 3 percent. Year to date, Wholesale Leathercraft sales totaled $25.5 million, down 5 percent from sales of $26.8 million for the same period a year ago.

International Leathercraft reported December sales of $400,000, up 7 percent compared to December 2015 sales of $374,000.

Year to date, International Leathercraft sales totaled $3.9 million compared to $3.7 million in 2015, up 5 percent. As of the end of December, same store sales were down 8 percent compared to the same period last year.

Tandy Leather Factory Inc. sells and distributes leather, leather-working tools, do-it-yourself-kits and many other products. Its products are distributed through its 27 Leather Factory stores, located in 18 states and three Canadian provinces; 84 Tandy Leather retail stores, located in 38 states and six Canadian provinces; and four combination wholesale-retail stores in the United Kingdom, Australia and Spain.

More information is available at tandyleatherfactory.com.


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