Tandy Leather Factory (TLF) Reports Increase in April Sales

May 1, 2008 2:59 PM EDT

Tandy Leather Factory, Inc. (AMEX: TLF) reported April sales of $4.7 million, up 10% from April 2007 sales of $4.3 million. Year to date sales are down 4% to $18.0 million in the current year from $18.9 million last year.

Retail Leathercraft posted a 5% sales increase for April, with sales totaling $2.0 million compared to $1.9 million in April 2007. The 67 comparable stores posted a 1% same store sales gain for the month.

Wholesale Leathercraft posted sales of $2.6 million for April, up 15% from April 2007 sales of $2.3 million. Within the Wholesale Leathercraft division, the wholesale stores' same store sales were up 4% for the month while the National Account group posted a April sales gain of 113%.

Chief Executive Officer and President, Ron Morgan, commented, "...The sales gain in our National Accounts was primarily due to timing of orders and shipments between March and April. However, one month does not make a trend and I do not believe that the weakness in our sales, retail or wholesale, is over. We will continue to do things that encourage customers to buy our product with the dollars that they have to spend but the competition for those dollars is stiff. Managing the right balance between sales and gross profit will be a primary focus in the coming months."[SM]

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