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Business Tandy Leather 2Q net income up 6 percent

Tandy Leather 2Q net income up 6 percent

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

    A. Lee Graham Reporter   Tandy Leather Factory Inc. of Fort Worth has reported net income and earnings per share up by 6 percent for the second quarter of 2013.   Consolidated net income for the quarter ended June 30, 2013 totaled $1.6 million compared to $1.5 million in same period last year, according to the company’s newly released quarterly financial report.   “Our second-quarter results were respectable, reporting solid sales and earnings,” said president and CEO Jon Thompson in a news release.   “We have spent more in advertising this year by combining several fliers into one but producing and mailing more often. Our fliers can have a big impact on our sales as they pull customers into our stores,” Thompson said.   Sales for second-quarter 2013 totaled $19 million, 12 percent more than the $16.9 million reached in the same period last year. Consolidated sales for the first six months of this year totaled 38.2 million, 9 percent more than $35.1 million from the same period last year.   Sales in the company’s retail leathercraft segment, which comprises Tandy Leather stores, rose $1.4 million in the second quarter, 14 percent higher compared to the same perios last year.   For the first six months of this year, sales for its Wholesale Leathercraft segment were up $23,000, or 0.2 percent, compared to the same period last year. International Consolidated gross profit margin for the current quarter was 62.8 percent, down from 64.7 percent in the same period last year.   Tandy Leather Factory, Inc. sells and distributes a diverse line of leather products. It distributes its products through its 29 Leather Factory stores, located in 19 states and three Canadian provinces, 78 Tandy Leather retail stores, located in 37 states and six Canadian provinces, and three combination wholesale-retail stores located in the United Kingdom, Australia and Spain. More information is available at www.tandyleatherfactory.com.   lgraham@bizpress.net      

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