FORT WORTH, Texas (AP) -- Tandy Leather Factory Inc. said Thursday that its revenue from stores open at least a year increased 17 percent in May.
This is a closely-watched indicator of a retailer's financial performance as it strips away the impact of recently opened or closed stores.
Tandy said its total revenue for the month was up 11 percent to $5.5 million. Its retail and international sales grew, while sales of its leather products on a wholesale basis fell during the month.
"We are more than halfway through the second quarter and sales remain solid," Tandy's CEO and President Jon Thompson said in a statement. "Even better, we have been achieving the sales results without significant promotional pricing, which helps to protect gross profit margins."
Tandy Leather Factory, headquartered in Fort Worth, Texas, sells leather, leatherworking tools, dyes, finishes, buckles, as well as saddle and tack hardware. It sells products through its more than 100 retail and factory stores in North America, along with three sites overseas.
The company's shares increased 10 cents, or nearly 2 percent, to $5.15.
