July 2012 Sales Up 15 Percent for Tandy Leather Factory, Inc. (TLF)

Tandy Leather Factory is a specialty retailer and wholesale distributor of a broad product line that includes leather, leatherworking tools, leather dyes and finishes, buckles and adornments for belts, saddle and tack hardware, and do-it-yourself kits. The company distributes and sells its products mainly in the United States, but also has outlets in Canada, Australia, Spain, and the UK.

The company reported today 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.

For additional information about Tandy Leather Factory, its operations, and product line, please visit the company’s website at www.tandyleatherfactory.com

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