www.missionir.com">MissionIR would like to highlight Tandy Leather Factory, Inc., a publicly traded company representing the broadest line of leather and leatherworking supplies anywhere. The company, which serves manufacturers, hobbyists, wholesale businesses, professional leather workers, institutions, and youth organizations, processes orders from company-owned locations throughout the U.S., in addition to outlets in Canada, the UK, Australia, and Spain.
In the company’s news yesterday,
Tandy Leather Factory reported that overall sales for the month of July came in at $5.8 million, up 15 percent when compared to July 2011. Year-to-date sales are up 10 percent to $40.8 million from $36.9 million in 2011. July was the company’s 37th consecutive month of year-over-year sales gains. In addition, it was the sixth out of the last twelve months that Tandy has reported double digit sales gains.
Retail leathercraft sales at the company’s 77 retail outlets were particularly strong in July with sales rising 19 percent to $3.4 million versus last July’s $2.9 million. Year-to-date sales on the retail side are also strong, showing a 15 percent increase over last year’s same period sales of $20.5 million to $23.8 million. Comparable store sales rose 14 percent.
Wholesale leathercraft sales showed smaller gains but were positive nonetheless. July sales came in at $2.1 million, up 4 percent from last July’s $2.0 million. Wholesale same store were up a solid 12 percent for July from the year ago period. For the year-to-date, wholesale leathercraft sales are $15.5 million compared to $15.3 million in 2011, a rise of 2 percent. Wholesale same store sales so far in 2012 are up by 5 percent.
Tandy’s smallest division, international leathercraft, posted strong gains for July as well. Sales were $287,000, up 62 percent from last July’s sales of $177,000. Sales were flat at the UK store, but sales at the newly opened stores in Australia (October 2011) and Spain (January 2012) were responsible for the gain. Year-to-date, international sales are $1.8 million compared to the prior year’s $1.2 million.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
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