Sales continue to climb at Tandy
Tandy Leather Factory has reported higher sales for January. Sales for the month were $4.5 million, up 3% compared with January 2009 sales.
Retail Leathercraft sales rose 8% to $2.3 million compared with $2.1 million the previous year. The 74 comparable stores' sales were up 7% for the month and the one store opened since January 2009 added sales of $16,000.
Wholesale Leathercraft posted sales of $2.1 million for January, up 1% from January 2009 sales of $2.1 million.
International Leathercraft, which comprises one store in the UK, reported January sales of $112,000, an 8% increase compared with $104,000 in January 2009. The UK store opened in February 2008 as a combination retail and wholesale store.
Chief executive officer and president, Jon Thompson, commented: "The positive sales trends continue in our wholesale and retail stores as we begin 2010. I am especially pleased with the wholesale stores as they have now had three consecutive months of sales gains. The January sales gains are back to the level of 2006 before the economy started slowing down.
“Our UK store will be two years old in February and continues to generate consistent sales gains, which confirms my belief of the potential that exists beyond our borders if we can find the right people to manage stores."
Shannon Greene, chief financial officer added: "We are cautiously optimistic as we look forward into 2010 and are expecting 2010 sales to be higher than 2009 sales. Whether the economy will cooperate is difficult to predict with any certainty. Regardless, we are moving ahead with our expansion plans by analysing the potential of new markets as well as adding to the customer base in our existing stores."
