Tandy Leather April revenue metric climbs 23 pct.

Tandy Leather Factory key revenue figure rises 23 percent in April

Associated Press

FORT WORTH, Texas (AP) -- Tandy Leather Factory Inc. said Thursday that revenue at stores open at least a year climbed 23 percent in April.

This figure is a key indicator of a retailer's health, because it measure growth from existing locations, and excludes results from stores recently opened or closed.

Tandy sells leather and leatherworking tools, buckles and other accessories. It also operates wholesale and factory stores.

Total monthly revenue rose 23 percent to $7.3 million. The Fort Worth, Texas, company said that retail leathercraft sales climbed 24 percent to $4.3 million in April. The one store that's opened since April 2012 contributed $50,000 in sales. Wholesale leathercraft sales gained 14 percent to $2.5 million. Sales for international leathercraft surged 82 percent to $400,000.

For the year to date, revenue at stores open at least a year increased 15 percent. Total revenue climbed 11 percent to $26.6 million. Retail leathercraft sales rose 17 percent to $15.9 million, while wholesale leathercraft sales were flat at $9.3 million. International leathercraft sales increased 42 percent to $1.4 million.

Tandy said that it is investing heavily in its international advertising so that it can grow its overseas customer base.

The company has 29 Leather Factory stores in 19 states and three Canadian provinces; 78 Tandy Leather stores in 37 states and six Canadian provinces and three wholesale/retail stores in the U.K., Australia and Spain.

Lightly-traded Tandy Leather Factory shares closed Wednesday at $7, up nearly 27 percent since the start of the year.

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