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Tandy Leather Factory reports June sales drop

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Tandy Leather Factory Inc. of Fort Worth has reported June sales of $6 million, down 4 percent compared to $6.3 million in the same month last year.

“Overall, our June sales were disappointing but not unexpected as the retail environment continues to be somewhat choppy,” said CEO Shannon L. Greene, commenting in a news release.

“Like other specialty retailers, we are having to compete for every available discretionary dollar the consumer is willing to spend,” Greene said, adding that the firm is monitoring foreign currency rates – especially for its United Kingdom operations – as it looks to the last half of the year.

“Brexit could have an unfavorable impact on our international sales, but it’s too early to tell,” Greene said of Britain’s decision to leave the European Union.

The company’s Retail Leathercraft division saw sales drop 5 percent to $3.9 million compared to $4 million in the same month last year.

Meanwhile, sales for Wholesale Leathercraft reached $1.9 million for June 2016, down 5 percent compared to $2 million in the same month last year.

Sales for the company’s International Leathercraft division rose 19 percent, from $260,000 in June 2015 to $310,000 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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