Tandy Leather Factory store sales increase 15%
US-based leather retailer and wholesale distributor, Tandy Leather Factory, has reported that the comparable store sales increased 15% for July 2011, compared to July 2010.
Sales for the month of July 2011 increased 11% to $5.1 million, compared to July 2010. Retail Leathercraft’s sales rose 16% to $2.9 million, compared to July 2010 sales of $2.5 million.
Jon Thompson, CEO and president, said: “We have started the third quarter with stronger sales than we expected, given that the third quarter is historically our weakest. We were fairly cautious in discounting selling prices in June and it showed in our sales. That caution on our part continued in July, but it didn’t seem to affect customer buying habits as much this time.”
Shannon Greene, CFO, said: “In our efforts to protect gross margins during a period of rising product costs, we have been careful to avoid promotional selling as a way to boost sales. We offered some very aggressive sales pricing on certain items last year in July which negatively affected our gross margin at the time. We believe we were successful in avoiding that scenario this year without sacrificing sales.”
