Tandy Leather reports Jan. sales

By Betty Dillard bdillard@bizpress.net

Tandy Leather Factory Inc. reported Feb. 6 its sales for the month of January were $6.6 million, up 6 percent compared with January 2013 sales of $6.3 million. The 76 comparable stores’ sales also were up 6 percent, the Fort Worth-based specialty retailer said. Retail Leathercraft’s sales rose 7 percent to $4 million compared with January 2013 sales of $3.7 million. The three stores opened since January 2013 added January sales of $92,000.

Wholesale Leathercraft posted sales of $2.3 million for January, up 3 percent over January 2013 sales of $2.2 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales rose 2 percent for the month and the National Account group’s sales were up 16 percent. International Leathercraft reported January sales of $409,000, a gain of 12 percent compared with January 2013 sales of $363,000. All three stores in the segment have been opened for both periods, so same store sales for the month were the same as the segment’s sales.

CEO and President, Jon Thompson, said the company will continue the expansion of its store chain in 2014, both by increasing the size of existing stores and opening new ones as appropriate. Tandy Leather Factory Inc. is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The company distributes its products through its 29 Leather Factory stores, located in 19 states and three Canadian provinces, 79 Tandy Leather retail stores, located in 36 states and six Canadian provinces, and three combination wholesale/retail stores located in the United Kingdom, Australia and Spain. Its common stock trades on the NASDAQ with the symbol TLF.

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