More good news for Tandy
Tandy Leather Factory has reported March sales of $4.6 million, up 4% compared with sales in March 2008. Year-to-date sales are now even with 2008 sales at $13.3 million.
Retail Leathercraft sales rose 7% to $2.3 million compared with March 2008 sales of $2.1 million. The two stores opened since last March added sales of $42,000 for the month. Year-to-date sales for Retail Leathercraft are $6.6 million this year, a 5% increase over sales of $6.3 million for the same period in 2008.
Wholesale Leathercraft posted sales of $2.1 million for March, down 1% from March 2008 sales of $2.2 million. Year-to-date Wholesale Leathercraft sales were down 7% to $6.3 million compared with $6.7 million in 2008.
The UK store, which opened in February 2008, added sales of $96,000 for the month compared with $30,000 in March 2008. Year-to-date sales are $292,000 compared with $42,000 in 2008.
Chief executive officer, Ron Morgan, said: "We were fairly pleased with our March sales. A 7% gain in our retail stores is the highest so far this year and makes our fourth consecutive month of sales gains in our retail stores. We were especially pleased with the 5% same-store sales gain. While we still had a sales decline in Wholesale in March, it was the smallest this year at 1%. And the 6% decline in the wholesale stores, while still a loss, is the lowest so far this year.”
He added: “We are up against tough comparisons for April as it was our second highest sales month last year. We have our work cut out for us to match those numbers although we are certainly trending in the right direction through the first quarter."
