Tandy Leather’s September sales rise 7%
05/10/2012
September sales totalled $5.4 million while year-to-date sales are up 10% at $52 compared with $47.3 million last year.
Tandy chief executive Jon Thompson said: "Our stores are generally performing well and gross profit margins remain strong. We introduced a number of new items in our annual catalogue and we are hopeful that our customers' acceptance of those new items will contribute to our sales through the remainder of the year and beyond."
Shannon Greene, Tandy's chief financial officer, added: "Our inventory is holding steady at approximately $30 million at the end of the quarter. We believe the increase in inventory at our stores is the contributing factor for the strong sales. We are carefully monitoring our inventory levels, balancing them against anticipated sales."
Tandy Leather Factory is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools and leather dyes and finishes.
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