Tandy Leather Factory reports rise in November sales

05/12/2005

Specialty retailer and wholesale distributor of products including leather, leatherworking tools, leather dyes and finishes, Tandy Leather Factory, Inc. has reported that sales for November were $4.6 million, an increase of 15% from $4 million last year. Year-to-date sales have risen 10% to $45.6 million in the current year from $41.4 million last year.

Wholesale Leathercraft posted sales of $2.7 million for November, up 8% from $2.5 million in November 2004. Retail Leathercraft posted a 30% sales increase, with sales totalling $1.7 million compared with $1.3 million last year. Year-to-date sales for Retail Leathercraft are $15.9 million this year, a 36% increase over sales of $11.7 million for the same period of 2004.

Chairman and CEO, Wray Thompson, commented, "We are pleased with the fourth quarter so far as our November sales furthered our momentum from October.” He continued, "As a result, we're refining our 2005 guidance slightly, expecting to end the year with revenues in the $50-51 million range…. We're also raising our 2006 guidance to $53 to 56 million in revenues. "