Tandy Leather Factory Inc reported that sales for the month of May were $4.6 million, an increase of 2% from $4.5 million last year. Year to date sales are up 1% to $23.5 million in the current year from $23.3 million last year.
Retail Leathercraft posted a 9% sales increase for May, with sales totaling $1.9 million compared to $1.7 million in May 2006. The 58 comparable stores posted a 1% same store sales gain for the month.
The 9 stores opened since April 2006 added May sales of $153,000. Year-to-date sales for Retail Leathercraft are $10.1 million this year, a 13% increase over sales of $8.9 million for the same period of 2006. As of the end of May, the same store sales gain for the 53 comparable stores is 2% for the year.
Wholesale Leathercraft posted sales of $2.5 million for May, down 1% from May 2006 sales of $2.6 million. Within the Wholesale Leathercraft division, the wholesale stores' same store sales were down 5% for the month while the National Account group posted a May sales increase of 4%.
Mid-Continent Leather Sales added sales of $74,000 for the month. For the year to date, Wholesale Leathercraft sales are $12.8 million compared to $13.3 million in 2006, a loss of 4%.
The comparable wholesale stores posted a 6% sales decline for the year, while National Accounts sales were also down 6%. Mid-Continent's year-to-date sales were $336,000.
Chief Executive Officer and President, Ron Morgan commented, "May appears to be a continuation of the weak sales trend we've experienced so far this year. I would also point out that we were going up against the largest monthly sales increase in all of 2006."
marketing@alchempro.com
