Tandy Leather Factory (TLF) Reports Decline in November Sales
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Tandy Leather Factory, Inc. (AMEX: TLF) reported that sales for the month of November were $4.6 million compared to $4.9 million in November 2007, down 8%. Year to date sales are down 5% to $48.5 million in the current year from $50.8 million last year. Tandy's UK store, which opened in mid-February, reported November sales of $83,000 and $753,000 year-to-date.
Retail Leathercraft posted November sales of $2.2 million, the same as November 2007. The 72 comparable stores posted a 2% same store sales loss for the month.
Wholesale Leathercraft posted sales of $2.2 million for November, down 16% from November 2007 sales of $2.6 million.
Chief Executive Officer, Ron Morgan, commented, "While our November sales overall continue their weak trend, we had great success with our Thanksgiving weekend sales, achieving a 15% sales gain compared to Thanksgiving weekend of 2007. More specifically, our retail and wholesale stores posted gains of 12% and 20%, respectively, for those two days. And most importantly, we earned those sales without sacrificing profit margins."
Tandy Leather Factory, Inc. is a retailer and wholesale distributor of a range of leather and related products, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.[SM]
Retail Leathercraft posted November sales of $2.2 million, the same as November 2007. The 72 comparable stores posted a 2% same store sales loss for the month.
Wholesale Leathercraft posted sales of $2.2 million for November, down 16% from November 2007 sales of $2.6 million.
Chief Executive Officer, Ron Morgan, commented, "While our November sales overall continue their weak trend, we had great success with our Thanksgiving weekend sales, achieving a 15% sales gain compared to Thanksgiving weekend of 2007. More specifically, our retail and wholesale stores posted gains of 12% and 20%, respectively, for those two days. And most importantly, we earned those sales without sacrificing profit margins."
Tandy Leather Factory, Inc. is a retailer and wholesale distributor of a range of leather and related products, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.[SM]
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