50.2 F
Fort Worth
Monday, November 30, 2020
Business Tandy Leather reports August sales surge

Tandy Leather reports August sales surge

Other News

Left for dead, twice, RadioShack gets another shot online

SILVER SPRING, Md. (AP) — RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It’s the most prized...

JC Penney sees bankruptcy protection exit by Christmas

NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens...

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet paper is back on store shelves. But you may not recognize some of the...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to...
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 $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.

 

lgraham@bizpress.net

 

 


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Legendary Fort Worth oil man, TCU supporter Dick Lowe dies

Legendary Fort Worth oil man and TCU supporter Richard L. "Dick" Lowe passed away Sunday, Nov. 29. He was 92. Lowe made and lost fortunes...

Several local Walmart Supercenters remodeled in time for holidays

Fort Worth and Arlington residents will soon get a first look at the newly remodeled Walmart Supercenters at 9500 Clifford Street, 8401 Anderson St....

Retail trade group sees solid holiday sales despite pandemic

By ANNE D'INNOCENZIO AP Retail Writer NEW YORK (AP) — The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could...

Grapevine company acquires San Antonio family business

Grapevine-based Able Machinery Movers, a heavy machinery-moving and rigging company, announced Nov. 24 the acquisition of Diamond E Rigging, a family-owned rigging and heavy equipment relocation business...

Arlington firm designing new hotel in Las Colinas

Arlington-based Type Six Design & Development has announced the firm has received zoning approval from the City of Irving for a new six-story Hotel...