Tandy Leather Factory says March sales rose
Tandy Leather Factory says retail sales rose in March after it opened a new store
FORT WORTH, Texas (AP) -- Tandy Leather Factory Inc. said Thursday its sales improved in March as it opened a new retail store.
Tandy sells leather and leatherworking tools, buckles and other accessories. It also operates wholesale and factory stores. The company said its revenue in March rose to $6.7 million from $6.2 million last year, and revenue at its 77 stores open at least a year rose 13 percent.
Revenue at locations open at least a year is considered an important measurement of retailer performance, because it excludes the results of stores that opened or closed in the last year.
Tandy says retail leather craft sales rose to $4.1 million from $3.6 million and wholesale revenue rose to $2.4 million from $2.3 million. The company's newest location brought in $42,000 in revenue in March. Its international sales for the month increased to $290,000 from $241,000.
The company has 78 retail stores, 29 Leather Factory stores, and three combination wholesale-retail stores overseas.
Shares of Tandy Leather Factory rose 5 cents to $7.17 in morning trading.