Tandy sales edge higher despite weak December
2007 sales edged 1% higher at American retailer and wholesaler of leather, leatherworking tools, dyes and finishes, saddle and tack hardware Tandy Leather Factory, Inc. despite a weak December performance.
Total sales for the year reached $55.7 million compared with $55.2 million in 2006, boosted by 10% gains at its Retail Leathercraft stores, which offset a 3% decline at its Wholesale Leathercraft business. However, overall sales for December fell 5% to $4.9 million, down from $5.2 million in the same prior-year period.
Chief executive Ron Morgan commented: "We ended the year with a sales gain, albeit a minimal one. That is certainly better than the alternative. Looking ahead, given the economic environment, positive financial reports will be the result of expense control, not sales gains.”
The company operates 29 Leather Factory stores, located in 19 states and three Canadian provinces, 72 Tandy Leather retail stores, located in 32 states and six Canadian provinces, and one Mid-Continent Leather Sales store.
