Tandy Leather August sales rise 9 pct

Tandy Leather posts 9 pct increase in Aug. sales on higher retail and wholesale demand

Associated Press

FORT WORTH, Texas (AP) -- Tandy Leather Factory Inc. said Thursday that its total sales rose 9 percent in August to $5.8 million, boosted by increases at both its retail and wholesale divisions.

For the year-to-date, the Fort Worth, Texas-based company said its sales rose 10 percent to $46.6 million.

The month's increase included a 10 percent increase in retail Leathercraft revenue at stores open at least a year. The metric is a key gauge of a retailer's health, because it measures growth at existing stores and excludes revenue from stores that recently opened or closed.

Total revenue at the retail business rose 10 percent to $3.3 million in August.

At the company's wholesale Leathercraft division, total sales rose 4 percent to $2.2 million for the month. And within that business, wholesale comparable sales increased 9 percent, while sales at its National Account Group dropped 40 percent.

Sales at Tandy's international division jumped 70 percent to $262,000, while revenue at stores open at least a year, which reflect the company's single store in the United Kingdom, were flat compared with August 2011 and totaled $154,000. The company's new stores in Australia and Spain added $108,000 in sales.

Tandy sells leather, leatherworking tools, dyes, finishes, buckles, as well as saddle and tack hardware. It sells products at more than 100 retail and factory stores in North America, plus the three stores overseas.

Tandy shares rose 8 cents to $5.49 in morning trading.

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