Tandy Leather Factory Inc reported that sales for the month of July were $4.3 million, an increase of 11% from $3.9 million last year. Year-to-date sales are up 2% to $32.4 million in the current year from $31.7 million last year.
Retail Leathercraft posted a 17% sales increase for July, with sales totaling $1.9 million compared to $1.6 million in July 2006. The 61 comparable stores posted an 11% same store sales gain for the month.
The 9 stores opened since June 2006 added July sales of $121,000. Year-to-date sales for Retail Leathercraft are $14.1 million this year, a 14% increase over sales of $12.3 million for the same period of 2006. As of the end of July, the same store sales gain for the 53 comparable stores is 3% for the year.
Wholesale Leathercraft posted sales of $2.3 million for July, up 6% from July 2006 sales of $2.2 million. Within the Wholesale Leathercraft division, the wholesale stores' same store sales were up 5% for the month while the National Account group posted a July sales decline of 16%. Mid-Continent Leather Sales, a new store acquired on February 1, added sales of $55,000 for the month.
For the year to date, Wholesale Leathercraft sales are $17.5 million compared to $18.0 million in 2006, a loss of 3%. The comparable wholesale stores posted a 4% sales decline for the year and National Accounts reported a 12% sales decline. Mid-Continent's year-to-date sales were $446,000.
Chief Executive Officer and President, Ron Morgan, commented, "July sales are encouraging - in both divisions. I'm pleased with the retail stores, but am even more pleased with the wholesale stores."
marketing@alchempro.com
