Tandy Leather Factory Inc reported that sales for the month of April were $4.3 million, the same as that of April last year. Year to date sales are up 1% to $18.9 million in the current year from $18.7 million last year.
Retail Leathercraft posted a 15% sales increase for April, with sales totaling $1.9 million compared to $1.7 million in April 2006. The 56 comparable stores posted a 5% same store sales gain for the month. The 11 stores opened since March 2006 added April sales of $187,000.
Year-to-date sales for Retail Leathercraft are $8.2 million this year, a 14% increase over sales of $7.2 million for the same period of 2006. As of the end of April, the same store sales gain for the 53 comparable stores is 2% for the year.
Wholesale Leathercraft posted sales of $2.2 million for April, down 8% from April 2006 sales of $2.4 million. Within the Wholesale Leathercraft division, the wholesale stores' same store sales were down 5% for the month while the National Account group posted an April sales decline of 39%. Mid-Continent Leather Sales added sales of $81,000 for the month.
For the year to date, Wholesale Leathercraft sales are $10.2 million compared to $10.6 million in 2006, a loss of 4%. The comparable wholesale stores posted a 6% sales decline for the year, while National Accounts sales were down 8%. Mid-Continent's year-to-date sales were $261,000.
Chief Executive Officer and President, Ron Morgan, commented, "I am fairly pleased with sales at the Tandy retail stores and a 5% same store sales gain is encouraging. Weak leather sales are still affecting the Leather Factory stores but we're beginning to see signs of that trend reversing. The National Account group had a tough month due primarily to the timing of customer orders. We are in close communication with those customers regarding their product requirements and ordering schedule and believe sales will improve as we move through the quarter."
Tandy Leather Factory Inc
marketing@alchempro.com
