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

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

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

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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


September 2018

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

news category


Related Categories:

Advanced Search