FORT WORTH, Texas, March 7, 2013 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of February were $6.3 million, up 8% compared to February 2012 sales of $5.8 million. Year to date sales are up 6% to $12.6 million in the current year from $11.9 million last year.
Retail Leathercraft's sales rose 12% to $3.8 million compared to February 2012 sales of $3.4 million. The 77 comparable stores' sales were up 11% compared to the same period last year. The one store opened since February 2012 added February sales of $36,000. Year-to-date sales for Retail Leathercraft are $7.5 million this year, a 14% increase over sales of $6.6 million for the same period of 2012. As of the end of February, the 77 comparable stores' sales were up 13% compared to sales reported for the same period in 2012.
Wholesale Leathercraft posted sales of $2.2 million for February, equal to that of February 2012 sales. Within the Wholesale Leathercraft division, the wholesale same store sales were up 1% for the month while the National Account group's sales were down 40% from February 2012. For the year to date, Wholesale Leathercraft sales are $4.4 million compared to $4.8 million in 2012, down 7%. As of the end of February, the wholesale same store sales were up 4% compared to the same period last year and the National Account group's sales are up 76%.
International Leathercraft reported February sales of $300,000, up 20% compared to February 2012 sales of $250,000. Same store sales, consisting of all three stores in the segment, were also up 20%. For the year to date, International Leathercraft sales were $663,000 compared to $494,000 in 2012, up 34%. As of the end of February, same store sales were up 34% compared to the sales reported for the same period in 2012.
Chief Executive Officer and President, Jon Thompson, commented, "Our sales were strong in February, especially when considering there was an extra selling day in 2012 due to leap year. We are committed to our growth strategy by increasing the size of our existing stores and opening new ones as appropriate and believe that our sales results further confirm our successful execution of that strategy."
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.
Source:Tandy Leather Factory, Inc.