Tandy reports ‘exceptional’ results for August
03/09/2009
Specialist leather retail and wholesale group Tandy Leather Factory has reported that its sales for the month of August were $4.1 million, up 2% from August 2008 sales.
As has been the case for some time, the retail side of Tandy’s business because its sales rose 12% to $2.1 million compared to August 2008. The 72 comparable stores’ sales were up 9% for the month compared to the same period last year. The three stores opened since August 2008 added August sales of $61,000.
New chief executive officer and president, Jon Thompson, commented: “I am very pleased with the performance of the retail stores. Retail's August sales gain is the highest of the year, beating July handily. And the 9% same-store sales gain in the retail stores is exceptional, given the state of the economy. We have not achieved gains of this magnitude since mid-2007. The wholesale story has not changed as we continue to report sales declines, although the declines appear to be less severe in the last several months."
Shannon Greene, Tandy Leather Factory’s chief financial officer, added: “We will continue our efforts to maintain sales in both retail and wholesale. However, we expect more of the same sales results for the remainder of the year.”
Share this story:
