Tandy Leather posts higher sales in June
Tandy Leather Factory has reported that sales of $5.5 million for June, up 5% compared with sales of $5.3 million in June 2011. Year-to-date sales were up 10% to $35 million in the current year from $31.9 million last year.
Retail Leathercraft's sales rose 9% to $3.2 million compared with June 2011 sales of $2.9 million. Year-to-date sales for Retail Leathercraft were $20.1 million, a 14% increase over sales of $17.6 million for the same period in 2011.
Wholesale Leathercraft posted sales of $2 million for June, down 2% compared with June 2011 sales of $2.1 million. For the year-to-date period, Wholesale Leathercraft sales were $13.4 million compared with $13.2 million in 2011, up 1%.
International Leathercraft reported June sales of $242,000, up 19% compared with June 2011 sales of $203,000. Year-to-date, International Leathercraft sales were $1.5 million compared with $1 million in 2011, up 44%.
Shannon Greene, chief financial officer said: "We finished the second quarter with a 6% sales gain. We are particularly pleased with the wholesale stores' performance this quarter as their sales gains are at the top end of internal expectations. We ended the quarter with an increase in total inventory.
"It is a little early to be buying for fourth quarter;
however, we continue to take advantage for aggressive buying opportunities when
they arise. We believe we are positioned well as we enter the last half of the
year and look toward a strong fourth quarter."
