A. Lee Graham
Tandy Leather Factory Inc. of Fort Worth has reported $6.3 million in August sales, up 7 percent compared to the same month last year when sales totaled $5.8 million.
“August sales results were positive, with most stores reporting solid sales gains,” said president and CEO Jon Thompson in a news release.
“As was the case in June, we had several wholesale stores with sales declines, which is the cause of the negative same-store sales for that segment,” Thompson said.
Year to date, sales are up 10 percent to $51.1 million compared to $46.6 million last year.
Meanwhile, the company’s Retail Leathercraft division saw sales inch up 12 percent to $3.8 million compared to August 2012 sales of $3.3 million.
The Wholesale Leathercraft division posted August sales of $2.2 million, down 1 percent or $30,000, compared to August 2012 sales of $2.2 million. In the Wholesale Leathercraft division, same-store sales were down 1 percent compared to August 2012, while the division’s National Account sales group sales were flat.
International Leathercraft reported August sales of $306,000, 17 percent higher than August 2012 sales of $262,000. Year to date, International Leathercraft sales were $2.6 million compared to $2 million last year, representing a 26 percent increase.
Thompson pointed out that the company’s third-quarter gross margin “is historically the lowest of the year.”
“With that said, we are more than halfway through the quarter and gross margins are in line with our internal targets,” Thompson said.
Tandy Leather Factory Inc. sells and distributes leather, leatherworking tools, do-it-yourself-kits and many other products. Its products are distributed through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces; 78 Tandy Leather retail stores, located in 37 states and 6 Canadian provinces; and three combination wholesale-retail stores in the United Kingdom, Australia and Spain.
More information is available at www.tandyleatherfactory.com.