Retail Leathercraft posted a 13% sales increase for August, with sales totaling $1.7 million compared to $1.5 million in August 2005. The 46 comparable stores' sales were flat for the month. The 16 stores opened since July 2005 added August sales of $271,000. Year-to-date sales for Retail Leathercraft are $14.1 million this year, a 22% increase over sales of $11.2 million for the same period of 2005. As of the end of August, the same store sales gain for the 42 comparable stores is 7% for the year.
Wholesale Leathercraft posted sales of $2.6 million for August. Within the Wholesale Leathercraft division, the comparable wholesale centers' sales were $2.1 million for August, down 2% from August 2005 sales. The National Account group's sales were up 5% from August 2005. For the year to date, Wholesale Leathercraft sales are $20.9 million compared to $20.5 million in 2005, an increase of 1.8%.
Chairman and Chief Executive Officer, Wray Thompson, commented, "August was another tough sales month, particularly at our Tandy Leather retail stores. However, as we had indicated previously, we were not expecting great sales results in August. We still believe we will finish the quarter with a strong September, which will start the momentum for the holiday shopping season."
Tandy Leather Factory, Inc., headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, belt buckles and adornments, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.
The Company distributes its products as The Leather Factory through its wholesale distribution centers and as Tandy Leather Company through its retail stores. Its common stock trades on the American Stock Exchange with the symbol "TLF."
Source : Tandy Leather Factory, Inc.
No comments:
Post a Comment