Tandy Leather Factory (TLF) Reports 3% increase in Sales for January 2010
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Tandy Leather Factory, Inc. (AMEX: TLF) reported today that sales for the month of January were $4.5 million, up 3% compared to January 2009 sales.
Retail Leathercraft’s sales rose 8% to $2.3 million compared to January 2009 sales of $2.1 million. The 74 comparable stores’ sales were up 7% for the month compared to the same period last year. The 1 store opened since January 2009 added January sales of $16,000.
Wholesale Leathercraft posted sales of $2.1 million for January, up 1% over January 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 5% for the month while the National Account group posted a January sales decline of 19%.
International Leathercraft, which consists of one store in the UK, reported January sales of $112,000, an 8% increase over sales of $104,000 in January 2009. The UK store opened in February 2008 as a combination retail and wholesale store.
Chief Executive Officer and President, Jon Thompson, commented, “The positive sales trends continue in our wholesale and retail stores as we begin 2010. I am especially pleased with the wholesale stores as they have now had three consecutive months of sales gains. The January sales gains are back to the level of 2006 before the economy started slowing down. Our UK store will be two years old in February and continues to generate consistent sales gains, which confirms my belief of the potential that exists beyond our borders if we can find the right people to manage stores.”
Shannon L. Greene, Chief Financial Officer added, “We are cautiously optimistic as we look forward into 2010 and are expecting 2010 sales to be higher than 2009 sales. Whether the economy will cooperate is difficult to predict with any certainty. Regardless, we are moving ahead with our expansion plans by analyzing the potential of new markets as well as adding to the customer base in our existing stores.”
Retail Leathercraft’s sales rose 8% to $2.3 million compared to January 2009 sales of $2.1 million. The 74 comparable stores’ sales were up 7% for the month compared to the same period last year. The 1 store opened since January 2009 added January sales of $16,000.
Wholesale Leathercraft posted sales of $2.1 million for January, up 1% over January 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 5% for the month while the National Account group posted a January sales decline of 19%.
International Leathercraft, which consists of one store in the UK, reported January sales of $112,000, an 8% increase over sales of $104,000 in January 2009. The UK store opened in February 2008 as a combination retail and wholesale store.
Chief Executive Officer and President, Jon Thompson, commented, “The positive sales trends continue in our wholesale and retail stores as we begin 2010. I am especially pleased with the wholesale stores as they have now had three consecutive months of sales gains. The January sales gains are back to the level of 2006 before the economy started slowing down. Our UK store will be two years old in February and continues to generate consistent sales gains, which confirms my belief of the potential that exists beyond our borders if we can find the right people to manage stores.”
Shannon L. Greene, Chief Financial Officer added, “We are cautiously optimistic as we look forward into 2010 and are expecting 2010 sales to be higher than 2009 sales. Whether the economy will cooperate is difficult to predict with any certainty. Regardless, we are moving ahead with our expansion plans by analyzing the potential of new markets as well as adding to the customer base in our existing stores.”
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