Home / Knowledge / News / Fashion / Wholesale Leathercraft sales decline in February
Wholesale Leathercraft sales decline in February
07
Mar '08
Tandy Leather Factory Inc reported that sales for the month of February were $4.4 million, a decrease of 5% from $4.6 million last year. Year to date sales are down 4% to $8.9 million in the current year from $9.2 million last year.

Retail Leathercraft posted a 5% sales increase for February, with sales totaling $2.1 million compared to $2.0 million in February 2007. The 64 comparable stores' sales were down by 2% for the month compared to the same period last year. The 8 stores opened in or after February 2007 added February sales of $134,000.

Year-to-date sales for Retail Leathercraft are $4.1 million this year, a 2% increase over sales of $4.0 million for the same period of 2007. As of the end of February, the 64 comparable stores' sales were down 4% compared to sales reported for the same period in 2007.

Wholesale Leathercraft posted sales of $2.3 million for February, a 12% decline from February 2007 sales of $2.6 million. Within the Wholesale Leathercraft division, the 30 wholesale centers' sales (which includes Mid-Continent Leather Sales) were down 10% for the month while the National Account group posted a February sales decline of 21%. For the year to date, Wholesale Leathercraft sales are $5.0 million compared to $5.2 million in 2007.

The new UK store, which operates as a combination retail and wholesale store, added sales of $11,000 in February. It was opened on February 18th.

Chief Executive Officer and President, RonMorgan, commented, "As expected, we're seeing continued weakness in our sales, although our retail stores looked a little better than they did last month. There are too many concerns about the economy right now on the part of consumers and until that changes, I expect retailers will continue to experience pressure on their sales. We will continue to invest in the development of our customer base so that at the time they have money to spend, we will be there."

Shannon L. Greene, Chief Financial Officer and Treasurer, added, "I think we are off to a good start in our UK store. Every day, there are new customers requesting catalogs and placing orders. We are confident in our UK store operations team to develop a solid business in hopes of offsetting some of the weakness we're experiencing here in the U.S.

Tandy Leather Factory Inc


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search