Tandy Leather Factory Inc reported that sales for the month of February were $4.6 million, an increase of 1% from $4.6 million last year. Year to date sales are up 1% to $9.2 in the current year from $9.1 million last year.
Retail Leathercraft posted a 12% sales increase for February, with sales totaling $2.0 million compared to $1.8 million in February 2006. The 53 comparable stores' sales were flat for the month compared to the same period last year.
The 11 stores opened since January 2006 added February sales of $230,000. Year-to-date sales for Retail Leathercraft are $4.1 million this year, a 14% increase over sales of $3.6 million for the same period of 2006. As of the end of February, the 52 comparable stores' sales equaled that of the sales reported for the same period in 2006.
Wholesale Leathercraft posted sales of $2.6 million for February, a 4% decline from February 2006 sales of $2.7 million. Within the Wholesale Leathercraft division, the 29 wholesale centers' sales were down 9% for the month while the National Account group posted a February sales gain of 1%.
The new store, operating as Mid-Continent Leather Sales which was acquired on January 31, 2007, reported sales of $96,000. For the year to date, Wholesale Leathercraft sales are $5.0 million to compared to $5.2 million in 2006.
Chief Executive Officer and President, Ron Morgan, commented, "Our February sales results are frustrating. We're doing all the right things, but we don't seem to be turning those efforts into sales. Our customer list is growing, we're teaching more classes and doing more demonstrations, and we're selling out of our new products as fast as we receive them."
marketing@alchempro.com
