More good news for Tandy Leather Factory
Tandy Leather Factory has posted a 13% rise in sales for November. Sales for the month were $5.2 million compared with $4.6 million in November 2008.
January to November sales totalled $49.5 million, a 2% increase compared with $48.5 million in the corresponding period last year.
Retail Leathercraft sales rose 20% to $2.7 million compared with November 2008 sales of $2.2 million. The two stores opened since November 2008 added sales of $56,000 in November. Year-to-date sales for Retail Leathercraft were $24.9 million, a 10% increase over sales of $22.6 million for the same period in 2008.
Wholesale Leathercraft posted sales of $2.3 million for November, up 8% from November 2008 sales of $2.2 million. However, year-to-date Wholesale Leathercraft sales were down 6% to $22.8 million compared with $24.4 million.
International Leathercraft, which comprises one store in the UK, reported November sales of $127,000, a 53% increase over sales of $83,000 in November 2008. Year-to-date sales totalled $1.2 million, up 59% over 2008 sales of $753,000. The UK store opened in February 2008 as a combination retail and wholesale store.
Chief executive officer and president, Jon Thompson, said: "Our wholesale stores broke their 19-month consecutive streak of sales declines. And our retail and international leathercraft divisions continue their very positive sales trends. With the sales momentum generated in October and November, I fully expect we will have a fourth quarter sales gain. Sales gains of any size in this environment are considered positive."
