Tandy Leather Factory Reports November 2013 Sales Up 8% Over November 2012
Retail SSS Up 9%; Wholesale SSS Up 5%; International SSS Up 7%
FORT WORTH, Texas, Dec. 5, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of November were $7.6 million, up 8% compared to November 2012 sales of $7.1 million. Year to date sales are up 9% to $70.9 million in the current year compared to $65.1 million last year.
Retail Leathercraft's sales rose 9% to $4.5 million compared to November 2012 sales of $4.2 million. The 78 comparable stores' sales were up 9% compared to the same period last year. The one store opened after November 2012 added November sales of $13,000. Year-to-date sales for Retail Leathercraft are $42.3 million, a 12% increase over sales of $37.8 million for the same period of 2012. As of the end of November, the comparable stores' sales were up 11% compared to sales reported for the same period in 2012.
Wholesale Leathercraft posted sales of $2.7 million for November, up 5% compared to November 2012 sales of $2.5 million. Within the Wholesale Leathercraft division, compared to November 2012, wholesale same store sales were up 5% and the National Account group's sales were up 6%. For the year to date, Wholesale Leathercraft sales are $25.0 million, up 3% from last year's sales of $24.4 million. As of the end of November, the wholesale same store sales were up 4% compared to the same period last year and the National Account group's sales were down 23%.
International Leathercraft reported November sales of $379,000, up 7% compared to November 2012 sales of $353,000. For the year to date, International Leathercraft sales were $3.6 million compared to $2.9 million last year, up 23%. All three stores in the segment have been opened for both periods, so same store sales for the month and year to date were the same as the segment's sales.
Chief Executive Officer and President, Jon Thompson, commented, "We were pleased with our November sales and the beginning of the Christmas shopping season, despite the bleak forecasts for retailers overall. We met our internal sales goals for Black Friday weekend and did so without significant discounting."
Shannon L. Greene, Chief Financial Officer added, "November continued our positive sales trend and with only one month left in the year, we are confident that we will meet our sales guidance for 2013."
Tandy Leather Factory, Inc., (http://www.tandyleatherfactory.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces, 79 Tandy Leather retail stores, located in 37 states and 6 Canadian provinces, and three combination wholesale/retail stores located in the United Kingdom, Australia and Spain. Its common stock trades on the Nasdaq with the symbol "TLF". To be included on Tandy Leather Factory's email distribution list, go to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.
This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Shannon L. Greene, Tandy Leather Factory, Inc.
(817) 872-3200 or email@example.com
Mark Gilbert, Magellan Fin, LLC
(317) 867-2839 or MGilbert@MagellanFin.com
Tandy Leather was founded in 1919 with the dream of sharing leathercraft with the world. Today, we're proud to continue this legacy as trusted source of quality leather, tools, and teaching materials for leatherworkers everywhere.