FORT WORTH, Texas, Feb. 6, 2014 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of January were $6.6 million, up 6% compared to January 2013 sales of $6.3 million.
Retail Leathercraft's sales rose 7% to $4.0 million compared to January 2013 sales of $3.7 million. The 76 comparable stores' sales were up 6% for the month compared to the same period last year. The three stores opened since January 2013 added January sales of $92,000.
Wholesale Leathercraft posted sales of $2.3 million for January, up 3% over January 2013 sales of $2.2 million. Within the Wholesale Leathercraft division, the wholesale stores' sales were up 2% for the month and the National Account group's sales were up 16%.
International Leathercraft reported January sales of $409,000, up 12% compared to January 2013 sales of $363,000. All three stores in the segment have been opened for both periods, so same store sales for the month were the same as the segment's sales.
Chief Executive Officer and President, Jon Thompson, commented, "We are pleased with the start to 2014 with the majority of our stores in all markets reporting solid sales gains. The three stores opened in late 2013 are ramping up well and our international stores continue to produce strong sales growth as they expand their customer bases. We intend to continue the expansion of our store chain in 2014, both by increasing the size of our existing stores and opening new ones as appropriate."
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 36 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.
Source:Tandy Leather Factory, Inc.