Tandy Leather Factory Inc., a Texas-based specialty retailer and wholesale distributor of a broad product line of leather and leatherworking tools and accessories, today announced a 7 percent increase in February 2011 sales to $5.1 million. Year-to-date sales are up 9 percent to $10.2 million in the current year from $9.3 million last year.
“February is our 24th month of consecutive year-over-year same store sales gains in our retail stores and our 24th month of having them in our UK store. In a recovering economy, we continue to do well,” Shannon L. Greene, Tandy Leather CFO, stated in the press release. “As a result, we plan to provide 2011 sales and earnings guidance when we announce our 2010 earnings before the market opens next Monday, including details regarding our 2011 expansion plans.”
Retail Leathercraft’s February 2011 sales rose 12 percent to $2.8 million compared to February 2010 sales of $2.5 million. Year-to-date sales for Retail Leathercraft are $5.6 million this year, a 15 percent increase over sales of $4.8 million for the same comparable period of 2010.
Wholesale Leathercraft posted sales of $2.1 million for February, equaling that of February 2010 sales. Year to date, Wholesale Leathercraft sales increased 1 percent, $4.3 million compared to $4.2 million in 2010.
International Leathercraft’s sales rose 47 percent to $172,000 compared to February 2010 sales of $117,000. Year-to-date sales are $332,000 this year, a 45 percent increase over sales of $229,000 for the same period of 2010. International Leathercraft consists of one store located in the UK.
“Our stores are performing well with solid sales results. Our UK store is three years old this month and continues to exceed our expectations. Inventory levels are decreasing as expected so overall, business is good,” Tandy Leather CEO and President Jon Thompson stated in the press release.
For more information visit www.tandyleatherfactory.com