Tandy results meet revenue guidance
Texas-based specialty leather retailer Tandy Leather Factory, Inc. has reported that December sales were $5.2 million, an increase of 3% from $5 million in December last year. Year-to-date sales were up by 9% to $55.2 million in the current year from $50.7 million last year.
Retail Leathercraft posted a 21% sales increase for December, with sales totalling $2.6 million compared with $2.1 million in December 2005. The twelve stores opened in 2006 added $348,000 to the company’s December sales.
Wholesale Leathercraft posted sales of $2.5 million for December, down 10% from $2.8 million in December 2005. Within the Wholesale Leathercraft division, the wholesale centres reported a sales loss of 3% while the National Account group posted a December sales loss of 50%.
For the full year sales at Retail Leathercraft totalled $22.5 million for 2006, a 25% increase over sales of $18 million for 2005. Wholesale Leathercraft sales were $31 million, level with the 2005 figure. The wholesale centres achieved a 2.4% sales gain for the year while the National Account group ended the year with a 4% sales decline.
