Tandy Leather: same store sales up 13% for November
US leather retailer Tandy Leather Factory has reported that sales for the month of November were $6.4 million, up 7% compared to November 2010 sales of $5.9 million. Year to date sales are up 10% to $59.1 million in the current year from $53.7 million last year.
Retail Leathercraft’s sales rose 14% to $3.7 million compared to November 2010 sales of $3.2 million. For the month, the 76 comparable stores’ sales were up 13% compared to the same period last year. The one store opened since November 2010 added November sales of $31,000. Year-to-date sales for Retail Leathercraft are $33.1 million this year, a 16% increase over sales of $28.7 million for the same period of 2010. For the year to date, the 75 comparable stores’ sales were up 14% compared to sales reported for the same period in 2010.
Wholesale Leathercraft posted sales of $2.4 million for November, down 5% compared to November 2010 sales of $2.5 million. Within the Wholesale Leathercraft division, same store sales were equal to that of November 2010 while the National Account group’s sales were down 40% for the month. For the year to date, Wholesale Leathercraft sales are $24 million compared to $23.5 million in 2010, up 2%. As of the end of November, year to date same store sales were up 4% compared to the same period last year and the National Account group’s sales are down 6% from 2010.
International Leathercraft, now consisting of two stores, reported November sales up 41% compared to November 2010, totalling $227,000. The UK store posted a sales increase of 15% in November, reporting sales of $185,000, compared to $160,000 in November 2010. The Australia store, opened in October, added November sales of $41,000. Year-to-date sales are $1.9 million this year, a 26% increase over sales of $1.5 million for the same period of 2010. The UK store reported a 22% sales gain while the new Australia store added 2011 sales of $61,000.
CEO and president, Jon Thompson, said: “Our November sales of $6.4 million set a new monthly sales record, beating the previous record set in December last year by approximately $150,000. The fourth quarter sales have been solid so far and we have no reason to expect December to be any different.”
Shannon L. Greene, CFO, added: “Our Thanksgiving weekend sales were strong as we achieved a 17% sales gain compared to the same weekend in 2010. We are off to a great start to the Christmas shopping season.”
