With Three Selling Days Remaining, Retail SSS Up 12%, Wholesale SSS Up 13%, Intl SSS Up 45%
FORT WORTH, Texas, Nov. 29, 2012 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that monthly sales through November 27 were $6.3 million, up 14% compared to November sales through the same period of 2011. The company plans to report November's full month and year-to-date sales in a subsequent release once the month is completed.
With three selling days remaining, Retail Leathercraft's sales rose 13% to $3.7 million compared to last year's sales for the same period of $3.3 million. The 77 comparable stores' sales were up 12% compared to the same period last year. The one store opened in November 2012 added November sales of $22,000 through November 27..
Wholesale Leathercraft posted monthly sales of $2.3 million through November 27, up 10% compared to last year's sales for the same period of $2.1 million. Within the Wholesale Leathercraft division, the wholesale same store sales were up 13% so far this month while the National Account group's sales were down 36% compared to sales through November 27 last year.
International Leathercraft reported monthly sales through November 27 of $311,000, up 60% compared to sales of $194,000 for the same period last year. So far this month, same store sales, consisting of the UK and Australia stores, were up 45% compared to last year's comparable period. The Spain store which opened in January 2012 added November sales so far of $29,000.
Chief Executive Officer and President, Jon Thompson, commented, "The strength of our sales continued into November even though the month is not over yet. The one store that was damaged by Superstorm Sandy has been closed all month as the building is being repaired, but its closing has not had a significant impact on our sales results. We are hopeful that it will re-open in another few weeks."
Shannon L. Greene, Chief Financial Officer, added, "We were very pleased with our Thanksgiving weekend sales as we achieved a 22% sales gain compared to the same weekend in 2011. We are off to a great start to the Christmas shopping season."
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, 78 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.
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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.
Mark Gilbert, Magellan Fin, LLC