June retail gowth for Tandy Leather
14/07/2010
Retail sales rose 23% to $2.8 million compared to June 2009 sales of $2.3 million. The 74 comparable stores' sales were up 21% for the month compared to the same period last year. The two stores opened since June 2009 added June sales of $49,000. Year-to-date retail sales are $15.3 million this year, a 16% increase over sales of $13.3 million for the same period of 2009. For the year, the 74 comparable stores' sales were up 14% compared to sales reported for the same period in 2009.
Wholesale sales were $2 million for June, down 2% from June 2009. Within the wholesale division, the wholesale stores' sales were up 2% for the month while the central sales team’s results were down 28% against June 2009. For the year to date, wholesale sales are $12.9 million compared to $12.4 million in 2009, up 4%.
International sales at the company’s one overseas store in the UK rose 27% to $154,000 in June 2010 compared to June 2009’s figure of $122,000. Year-to-date sales are $776,000 this year, a 29% increase over sales of $603,000 for the same period of 2009.
Chief executive officer and president, Jon Thompson, commented: “June was another very strong sales month for us. The stores, both retail and wholesale, are performing very well. The one negative aspect of our June sales was the decline in our National Account group. While we are not satisfied with the decline from this group, we believe the stores, rather than National Accounts, represent the greatest potential for continued and consistent growth.”
Chief finance officer, Shannon Greene, added: “We completed the second quarter with great strength, reporting an 8% sales gain for the quarter and sales gains in all three divisions. We are especially pleased with the same-store comparables for the quarter of 14% in the retail stores and 4% in the wholesale stores.”
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