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Tandy Leather Retail Leathercraft div sales up in Nov

08 Dec '06

2 min read

Tandy Leather Factory Inc reported that sales for the month of November were $4.8 million, an increase of 5 percent from $4.6 million last year. Year to date sales are up 10 percent to $50.0 million in the current year from $45.6 million last year.

Retail Leathercraft posted a 20 percent sales increase for November, with sales totaling $2.0 million compared to $1.7 million in November 2005. The 50 comparable stores posted a 4 percent same store sales gain for the month.

The 12 stores opened after October 2005 added November sales of $271,000. Year-to-date sales for Retail Leathercraft are $20.0 million this year, a 26 percent increase over sales of $15.9 million for the same period of 2005.

As of the end of November, the same store sales gain for the 42 comparable stores is 7 percent for the year.

Wholesale Leathercraft posted sales of $2.7 million for November. Within the Wholesale Leathercraft division, the wholesale centers' November sales were $2.3 million, the same as November 2005 sales.

The National Account group's sales were down 10 percent compared to November 2005 sales. For the year to date, Wholesale Leathercraft sales are $28.5 million compared to $28.2 million in 2005, an increase of 1 percent.

Chairman and Chief Executive Officer, Wray Thompson, commented, "While we started off the month of November with some real strength, we gave up some of that sales momentum in the last half of November and as a result didn't achieve the sales gain we were expecting, particularly in the retail stores. With that said, we are still on track to meet our revenue guidance for 2006."

Tandy Leather Factory Inc

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