Tandy Leather Factory Achieves Sales Gain for 2007.FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States, and voted one of "America’s Most Livable Communities. -- Tandy See RadioShack.
(company) Tandy - A US company, the parent company of Radio Shack, makers of the TRS-80 and other early personal computers. Leather Factory, Inc. (AMEX AMEX
See: American Stock Exchange : TLF TLF Tanklöschfahrzeug (German: fire department)
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TLF Timing Library Format ) reported today that it finished the year with a 1% sales gain over 2006. 2007 sales totaled $55.7 million compared to $55.2 million last year. Retail Leathercraft ended 2007 with a 10% sales gain, reporting annual sales of $24.8 million compared to 2006 sales of $22.5 million. The 52 same stores achieved a minimal sales gain for the year. The 20 new stores contributed 2007 sales of almost $4 million. Wholesale Leathercraft ended 2007 with a 3% sales decline. 2007 sales totaled $29.7 million, down $1 million from 2006 sales of $30.7 million. The wholesale stores' same store sales Same Store Sales
A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more.
This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of for 2007 were down 4% compared to 2006 and National Accounts ended the year with a 15% loss. Mid-Continent Leather Sales added $720,000 in sales for the year.
Chief Executive Officer and President, Ron Noun 1. Ron - a Chadic language spoken in northern Nigeria
West Chadic - a group of Chadic languages spoken in northern Nigeria; Hausa in the most important member Morgan Morgan, American family of financiers and philanthropists.
Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. , commented, "We ended the year with a sales gain, albeit a minimal one. That is certainly better than the alternative. Looking ahead, given the economic environment, positive financial reports will be the result of expense control, not sales gains. We have been successful in our efforts to reduce our inventory as it decreased $1.5 million through the first 60 days of the quarter and I expect another $1 million decrease in December. Cash at year-end approximately $6.5 million, up $3 million since September 30. We will continue our expense cutting efforts as our goal for 2008 is to maintain or increase profits on little or no sales growth.
Sales for the month of December were $4.9 million, down 5% from December 2006 sales of $5.2 million. Sales for December for the retail division were down 4.3% to $2.4 million compared to December sales last year of $2.6 million. The 62 comparable stores posted a 12% same store sales decline for the month. The 10 stores opened after November 2006 added sales for the month of $194,000. Sales for the month for the wholesale division were $2.4 million, down 4% or $90,000 from $2.5 million in December 2006. The wholesale stores reported an 8% same store sales loss while the National Account group posted a December sales gain of 30%. Mid-Continent Leather Sales added sales of $52,000 for the month.
Consolidated sales for the fourth quarter were flat against fourth quarter sales in 2006. Retail Leathercraft produced a 3% gain for the quarter, although the same stores reported a 5% same store sales loss. Wholesale Leathercraft reported a 2% loss for the quarter, with the same stores down 5% and National Accounts up 2%.
Shannon L. Greene, Chief Financial Officer and Treasurer, commented, "Our December sales were weak, but frankly not surprising. The retail sector is struggling and as a result, I don't think anyone is expecting record sales this holiday season. Traffic in our stores was not as strong as we've seen in years past for December. We are fortunate that our sales are spread pretty evenly throughout the year and we are not relying on the fourth quarter to generate a large portion of our annual sales like many other retailers."
Ms. Greene continued, "We are looking ahead to a better year in 2008 with tighter expense control as we do not expect sales to grow significantly. We are on schedule with our UK expansion plans and are still looking at a February opening date. We are encouraged by the inquiries we receive from potential customers who are anxious for us to open for business there."
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 This article is about the comic strip. For the fastener, see Buckle
Buckles is a comic strip by David Gilbert about the misadventures of a naïve dog. Buckles debuted on March 25, 1996. and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces Noun 1. Canadian province - Canada is divided into 12 provinces for administrative purposes
province, state - the territory occupied by one of the constituent administrative districts of a nation; "his state is in the deep south" , 72 Tandy Leather retail stores, located in 32 states and 6 Canadian provinces, and Mid-Continent Leather Sales, one store located in Oklahoma. Its common stock trades on the American Stock Exchange American Stock Exchange (AMEX)
Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. with the symbol "TLF".
This news release may contain forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . All forward-looking statements made here or in other news releases issued by Tandy Leather Factory, Inc. are based on current expectations as of the date of the release. These forward-looking statements involve risks and uncertainties that could cause the results of Tandy Leather Factory, Inc. to differ materially from management's current expectations. Many of these risks and uncertainties are detailed from time to time in TLF's reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. and the most recent quarterly report on Form 10-Q Form 10-Q
See 10-Q. . Investors are reminded that past performance may not be predictive of future results.