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Tandy Leather to report sales regularly, Oct sales up 17%

Nov '05
Texas based leading Leatherwear Company Tandy Leather Factory Inc reported sales for the month of October were $4.4 million, an increase of 17 percent from $3.7 million last year. Year to date sales are up 9 percent to $41 million in the current year from $37.5 million last year.

Wholesale Leathercraft posted sales of $2.6 million for October, up 8 percent from $2.4 million in October 2004. Within the Wholesale Leathercraft division, the wholesale centers and National Account group posted October sales gains of 9 percent and 4 percent, respectively. For the year to date, Wholesale Leathercraft sales are $25.5 million compared to $25.4 million in 2004.

Retail Leathercraft posted a 37 percent sales increase for October, with sales totaling $1.6 million compared to $1.2 million last year. The 39 comparable stores posted a 19 percent same store sales gain for October, with the 11 new stores adding sales of $216,000. Year-to-date sales for Retail Leathercraft are $14.2 million this year, a 36 percent increase over sales of $10.4 million for the same period of 2004.

Chairman and Chief Executive Officer, Wray Thompson, commented, "In order to further their commitment of communicating with their stockholders and interested investors, they intend to report monthly sales information beginning with October. They started the fourth quarter with great momentum and as a result, posted solid sales for October. The Tandy stores continue to strengthen. Same store sales are up approximately 6 percent for the year as of the end of October."

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