Retail figures up again for Tandy
10/07/2009
Specialist leathercraft retailer and wholsaler Tandy Leather Factory has reported that its sales for the month of June were $4.5 million, the same as June 2008. Year-to-date sales were down 2% to $26.6 million in the current year from $27.1 million last year.
Retail sales rose 7% to $2.3 million compared to June 2008 sales of $2.1 million. The 72 comparable stores' sales were up 5% for the month compared to the same period last year. The three stores opened since June 2008 added June sales of $50,000. Year-to-date sales for the retail division are $13.2 million this year, a 6% increase over sales of $12.5 million for the same period of 2008.
The wholesale side of the business, however, posted sales that were down 7% over June 2008 at $2.3 million.
The company's UK store, which opened in February 2008 as a combination retail and wholesale store, has added sales of $122,000 for the month and $603,000 for the year, compared to $94,000 and $237,000 for the comparable periods in 2008, respectively.
Chief executive, Jon Thompson, commented: "Our June sales held true to the trend with gains in retail and declines in wholesale. Until the small wholesale customers gain some confidence that we have seen the worst economically and that they are going to survive, our wholesale business is going to continue to struggle. Unfortunately, I am not seeing anything that indicates our economy is really turning around yet."
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