AP News

Tandy reports sales rose in November over 2011


FORT WORTH, Texas (AP) — Tandy Leather Factory Inc. said Thursday that sales at its traditional retail stores open at least one year rose 12 percent through Nov. 27 compared to a year ago.

Thanksgiving weekend sales rose 22 percent over last year, the company said. Shannon Greene, Tandy's chief financial officer, called that a great start to the Christmas shopping season.

The company, based in Fort Worth, Texas, operates 77 Tandy Leather stores that offer leather and leatherworking tools, buckles and other accessories. It also operates wholesale and factory stores.

Tandy said that companywide sales increased 14 percent to $6.3 million through Nov. 27. The company said it would report figures for the full month and year to date once the month ends.

With three selling days left in the month, retail sales rose 13 percent to $3.7 million from $3.3 million a year earlier. Wholesale leathercraft sales rose 10 percent to $2.3 million from $2.1 million, although national account sales within wholesale dropped 36 percent.

The relatively small international business reported a sales gain of 60 percent, to $311,000, as it added a store in Spain in January.

The company said one U.S. store was damaged by Hurricane Sandy and was closed throughout November and might reopen in a few weeks

Tandy Leather shares rose 9 cents, or 1.6 percent, to $5.35 in morning trading. They rose as high as $5.70 on August, and sank as low as $4.51 in December.


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