Home / Knowledge / News / Fashion / Tandy Leather retail business is fairly solid in July
Tandy Leather retail business is fairly solid in July
08
Aug '08
Tandy Leather Factory Inc reported that sales for the month of July were $4.2 million compared to $4.3 million in July 2007, down 2%. Year to date sales are down 3% at $31.4 million in the current year from $32.3 million last year. Tandy's UK store, which opened in mid-February, reported July sales of $89,000 and $326,000 year-to-date.

Retail Leathercraft posted a 6% sales increase for July, with sales totaling $2.0 million compared to $1.9 million in July 2007. The 68 comparable stores posted a 3% same store sales gain for the month. The 4 stores opened in or after July 2007 added sales for the month of $73,000. Year-to-date sales for Retail Leathercraft are $14.5 million this year, a 3% increase over year-to-date 2007 sales of $14.1 million. As of the end of July, same store sales were down 2% for the year.

Wholesale Leathercraft posted sales of $2.0 million for July, down 12% from July 2007 sales of $2.4 million. Within the Wholesale Leathercraft division, the wholesale stores' same store sales were down 13% for the month while the National Account group posted a July sales decline of 7%. For the year to date, Wholesale Leathercraft sales are $16.0 million compared to $17.5 million in 2007, a loss of 8%. The stores and National Accounts posted a 9% and 5% sales decline for the year, respectively.

Chief Executive Officer, Ron Morgan, commented, "Again this month, as was the case in June, our retail business is fairly solid, all things considered. It's our wholesale business that continues to struggle. In looking at the wholesale stores individually, we had half of the stores with sales gains and half with sales losses. Unfortunately, the losses more than offset the gains. As we have mentioned numerous times, this is a tough environment but we will get through it. It takes a lot of extra effort and probably more importantly, patience."

Shannon Greene, Chief Financial Officer and Treasurer, added, "Our Canada stores again outperformed the US stores as they contributed sales gains in both divisions (Retail and Wholesale). And we continue to be pleased with the revenue at our UK store. Despite the difficult economic situation, we are holding our own in most areas of our business."

Tandy Leather Factory Inc


Must ReadView All

Trump announces tariffs on $200 bn worth Chinese imports

Apparel/Garments | On 18th Sep 2018

Trump announces tariffs on $200 bn worth Chinese imports

US President Donald Trump escalated the trade war with China on...

Courtesy: Sunrise Bumi Textiles

Textiles | On 18th Sep 2018

Sunrise Bumi developing new products for profitability

Sunrise Bumi Textiles, one of the world's leading quality yarn...

New Zealand bans sheep mulesing

Textiles | On 18th Sep 2018

New Zealand bans sheep mulesing

New Zealand has banned the practice of mulseing sheep, making the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

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

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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