Tandy Leather Factory to Open Stores in Bossier City, LA and Corpus Christi, TX
Closing Stores in Fargo, ND and Albuquerque, NM
FORT WORTH, Texas, Dec. 10, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) announced today that it plans to open two new retail stores – one in Corpus Christi, Texas and the second in Bossier City, Louisiana. These are the second and third new stores opened in 2013. The Bossier City store is located at 4726 East Texas Street, Suite 146. The Corpus Christi store is located at 2033 Airline Road, Suite F. Both stores will open for business on December 23.
Tandy Leather Factory, Inc. further announced that it is closing its Fargo, ND and smaller Albuquerque, NM stores by year-end. The company has a larger store in Albuquerque that will remain open.
Chief Executive Officer and President, Jon Thompson, commented, "We are pleased to be opening new stores in Bossier City and Corpus Christi. Both are new markets for us. We believe we can build strong customer bases in those markets by having local stores in place. Gabe Lanford will be the manager of the Corpus Christi store. He has managed several other stores for us successfully and we expect no less at the Corpus Christi store. Willie Brewer will manage the Bossier City store. He recently completed his training at our flagship store in Fort Worth."
Mr. Thompson continued, "Our Fargo store has never been profitable, despite our efforts. The population of North Dakota is simply not large enough to support our store. We have two stores in Albuquerque and are closing the smaller one located on Menaul Boulevard. The larger store on Candelaria will remain open. We believe the one store will easily support our customer base in Albuquerque and surrounding areas."
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 firstname.lastname@example.org
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.