Tandy Leather Factory June Sales Up 5% Over June 2011
Tandy Leather Factory, Inc. (Nasdaq: TLF) reported today that sales for the month of June were $5.5 million, up 5% compared to June 2011 sales of $5.3 million. Year to date sales are up 10% to $35.0 million in the current year from $31.9 million last year.
Retail Leathercraft's sales rose 9% to $3.2 million compared to June 2011 sales of $2.9 million. All 77 stores are considered comparable stores as of June, posting a same store sales increase of 9% over the same period last year. Year-to-date sales for Retail Leathercraft are $20.1 million this year, a 14% increase over sales of $17.6 million for the same period of 2011. As of the end of June, the 76 comparable stores' sales were up 14% compared to sales reported for the same period in 2011.
Wholesale Leathercraft posted sales of $2.0 million for June, down 2% compared to June 2011 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale same store sales were up 6% for the month while the National Account group's sales were down 77% from June 2011. For the year to date, Wholesale Leathercraft sales are $13.4 million compared to $13.2 million in 2011, up 1%. As of the end of June, the wholesale same store sales were up 4% compared to the same period last year and the National Account group's sales are down 28%.
International Leathercraft reported June sales of $242,000, up 19% compared to June 2011 sales of $203,000. Same store sales, representing the UK store, were down 25%, while the new Australia and Spain stores, opened in October 2011 and January 2012, respectively, added June sales of $88,000. For the year to date, International Leathercraft sales were $1.5 million compared to $1.0 million in 2011, up 44%. As of the end of June, same store sales were down 3% compared to the sales reported for the same period in 2011.
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