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Business Tandy Leather Factory reports July sales drop

Tandy Leather Factory reports July sales drop

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Tandy Leather Factory Inc. of Fort Worth has reported July sales of $6.2 million, down 5 percent compared to $6.5 million in the same month last year.

“The decrease in July sales is due to one less selling day compared to last July and continued weakness in sales overall,” said CEO Shannon L. Greene, commenting in a news release.

“The international stores really struggled in July, which we will continue to monitor. Despite the soft sales, we are still on track with our annual revenue forecast,” Greene said.

The company’s Retail Leathercraft division saw sales drop 4 percent to $4 million compared to $4.2 million in the same month last year.

Meanwhile, sales for Wholesale Leathercraft dropped to $1.9 million for July 2016, down 7 percent compared to $2 million in the same month last year.

Sales for the company’s International Leathercraft division dropped 15 percent, from $313,000 in July 2015 to $267,000 in the same month this 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; 81 Tandy Leather retail stores, located in 36 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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