| The Leather Factory Hires Former Tandy Leather President |
FORT WORTH, Texas, April 30 /PRNewswire-FirstCall/ -- The Leather Factory, Inc. (Amex: TLF) today announced that Don Moon, former Tandy Leather President, has joined The Leather Factory as manager of its lead store in Fort Worth. Mr. Moon brings with him over 20 years of experience as an instructor of leatherworking and store management. The Leather Factory established Tandy Leather Company as a subsidiary when it acquired Tandy's assets in late 2000.
Mr. Moon began working for Tandy Leather Company in 1983 as an instructor, and in 1996 he became its president. He left Tandy Leather in 1998 and most recently was Executive Vice-President of a local retail leathercraft company. During his years with Tandy Leather, Mr. Moon developed the "Diploma of Leather Arts" program, consisting of four defined subject courses totaling 31 weeks of instruction. He also developed a 28-week instruction course in saddling making. He spent 13 years working through the Tandy system as a store manager, then as a Regional Manager, responsible for 36 retail stores. After he became Tandy Leather Company's president, he demonstrated his continued commitment to leathercraft instruction by creating the "Tandy College of Leather Arts."
Beckie Moon, Mr. Moon's wife, has also been hired by The Leather Factory. Mrs. Moon, who began her leathercrafting career in 1978, was the manager of the former Tandy Leather retail store in Las Vegas, where she received that company's "Top Performing Manager of the Year" award. She will be assisting Jim Linnell, Director of Operations for Tandy Leather, in a customer service capacity in the short-term until the company is ready to open another retail store in the Dallas-Fort Worth area, at which time it is expected that Mrs. Moon will become manager of the new store.
Wray Thompson, Chairman and Chief Executive Officer of The Leather Factory, Inc. commented, "With Don's proven track record in store operations and management, I am confident in his ability to improve the overall quality of our Fort Worth store. In light of his instructional background, I expect he'll also be instrumental in the development of the retail store design for our Tandy Leather stores. Beckie will also be a tremendous resource for us -- she's dedicated, extremely knowledgeable about the industry and has proven she knows how to manage a solid, profitable store."
The Leather Factory, Inc., (http://www.leatherfactory.com ), headquartered in Fort Worth, Texas, is an international marketer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, shoe repair supplies, saddle and tack hardware, and do-it-yourself kits, and is a manufacturer and distributor of fancy hat trims, leather lacing and kits. The Company distributes its products through 30 sales and distribution units located throughout the U.S. and Canada and through its subsidiary, Tandy Leather Company, via mail/telephone/website orders (http://www.tandyleather.com ) and 3 retail stores. Its common stock trades on the American Stock Exchange with the symbol "TLF".
This news release may contain forward-looking statements. All forward- looking statements made here or in other news releases issued by The Leather Factory, Inc. are based on current expectations as of the date of the release. These forward-looking statements involve risks and uncertainties that could cause the results of The Leather Factory, Inc. to differ materially from management's current expectations. Many of these risks and uncertainties are detailed from time to time in TLF's reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and the most recent quarterly report on Form 10-Q. In addition, investors should be aware that there are business risks associated with opening a new line of retail stores. These risks include the possibility that stores will not be economically successful or that economic conditions will impede their profitability.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Tandy Leather Factory, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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| Apr 30, 2002 |
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