Tandy Leather sales up so far in 2009

Tandy Leather Factory Inc. posted a 9 percent increase in sales to $4.9 million in October 2009, up from $4.5 billion during the same month of 2008

The Fort Worth-based leather goods manufacturing company also reported year-to-date sales of $44.3 million, a 1 percent gain over the same period last year. Tandy Leather boasted 22 percent and 20 percent gains in sales and comparable store sales, respectively, during October 2009. Gains have been made throughout the year; however, the company’s wholesale leathercraft division reported a 3 percent decline in sales to $2.2 million for the month and an 8 percent drop for the year.

“Our retail and international leathercraft divisions have started the fourth quarter with significant strength,” said Jon Thompson, CEO and president, in a statement. “We haven’t seen 20 percent same-store sales gains at the retail stores since 2006 so it is very exciting to see the stores doing so well. Our wholesale leathercraft division continues to struggle. However, the sales declines at the wholesale stores are getting smaller so that is somewhat encouraging.”

Tandy Leather stock has gained 58 percent in value during 2009, with shares trading at about $3.40.

jtronche@bizpress.net