Tandy Leather Factory sets monthly sales record

Tandy Leather Factory Inc.

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.

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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.

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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.

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More information is available at tandyleatherfactory.com.