Leatherworking tools distributor Tandy Leather's same store sales up
08 Jan '07
2 min read
Tandy Leather Factory Inc reported that sales for the month of December were $5.2 million, an increase of 3% from $5.0 million last year. Year to date sales are up 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 totaling $2.6 million compared to $2.1 million in December 2005. The 50 comparable stores posted a 5% same store sales gain for December. The 12 stores opened in 2006 added December sales of $348,000. Sales for Retail Leathercraft totaled $22.5 million for 2006, a 25% increase over sales of $18.0 million for 2005. The year's same store sales gain for the 42 comparable stores was 6%.
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 centers reported a sales loss of 3% while the National Account group posted a December sales loss of 50%. For the year, Wholesale Leathercraft sales were $31.0 million, the same as in 2005. The wholesale centers achieved a 2.4% sales gain for the year while the National Account group ended the year with a 4% sales decline.
Chief Executive Officer and President, Ron Morgan commented, "We reached the 2006 revenue target we had announced and believe we will make our earnings estimate of 43 to 44 cents for the year as well. I am pleased with the performance of our Tandy Leather stores, reporting a 22% sales gain for the quarter.”
marketing@alchempro.com
