Tandy Leather Factory Inc. said Dec. 10 it will open its second and third new stores in 2013, one in Corpus Christi and the second in Bossier City, La. Both stores will be open for business on Dec. 23. The Fort Worth-based retailer also said it is closing its Fargo, N.D., and smaller Albuquerque, N.M., stores by year-end. The company has a larger store in Albuquerque that will remain open.
Chief Executive Officer and President, Jon Thompson, said the new markets in Corpus Christi and Bossier City will allow the company to build strong customer bases in those markets by having local stores in place. “Our Fargo store has never been profitable, despite our efforts. The population of North Dakota is simply not large enough to support our store,” Thompson said. “We have two stores in Albuquerque and are closing the smaller one located on Menaul Boulevard. The larger store on Candelaria will remain open. We believe the one store will easily support our customer base in Albuquerque and surrounding areas.”
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 37 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.”