FORT WORTH, Texas, Feb. 5, 2015 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq:TLF) reported today that sales for the month of January were $7.0 million, up 6% compared to January 2014 sales of $6.6 million.
Retail Leathercraft's sales rose 11% to $4.4 million compared to January 2014 sales of $4.0 million. The 79 comparable stores' sales were up 9% for the month compared to the same period last year. The three stores opened since January 2014 added January sales of $87,000.
Wholesale Leathercraft posted sales of $2.3 million for January, matching sales for January 2014. Within the Wholesale Leathercraft division, the wholesale stores' sales were up 6% for the month while National Account group sales were down 100%, or $121,000, as sales to this customer group ended in April 2014.
International Leathercraft reported January sales of $349,000, down 15% compared to January 2014 sales of $409,000. All three stores in the segment have been opened for both periods, so same store sales for the month were the same as the segment's sales.
Chief Executive Officer and President, Jon Thompson, commented, "We have started 2015 off well with the majority of our stores in our North American markets reporting solid sales gains. Our UK store struggled this month, reporting a sales loss for the sixth time in its six-year history. It was up against large comps from last year due to some one-time sales that they were not able to repeat this year. Further, we are beginning to see some price resistance from a few of our larger international customers as the US dollar strengthens against their local currency."
Tandy Leather Factory, Inc., (http://www.tandyleatherfactory.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 28 Leather Factory stores, located in 18 states and 3 Canadian provinces, 82 Tandy Leather retail stores, located in 36 states and 6 Canadian provinces, and three combination wholesale/retail stores located in the United Kingdom, Australia, and Spain. Its common stock trades on the Nasdaq with the symbol "TLF". To be included on Tandy Leather Factory's email distribution list, go to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.
This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.