The market reacted positively toward
Tandy Leather Factory, Inc.
) September sales results, as its shares rose 1.3% within a day
of the announcement. This Fort Worth, TX-based company carrying a
Zacks Rank #3 (Hold), said that sales for the month increased 6%
to $5.8 million from the year-ago period and surged 9% to $56.9
The retailer and wholesaler of leather as well as related
merchandise operates under three segments, Retail Leathercraft,
Wholesale Leathercraft and International Leathercraft. A look at
the segments' performance reveals that retail and international
stores sustained their positive momentum, while wholesale stores
also portrayed improvement.
Retail Leathercraft sales increased 7% to $3.4 million,
whereas comparable-stores sales rose 6%. Year-to-date, sales for
the segment surged 13% to $34 million, while comps grew 12%.
Wholesale Leathercraft sales climbed 3% to $2 million, while
comparable-store sales rose 7%. As per the year-to-date results,
the division posted sales of $20 million that rose 2% from the
year-ago period. Meanwhile, comps were up 4%. National Account
group's sales plunged 43% to $85,000, while year-to-date sales
Coming to the International Leathercraft segment, sales
increased 18% to $308,000 and comparable-store sales experienced
an equivalent rate of growth. Year-to-date, sales came in at $2.9
million, up 25% from $2.3 million last year, whereas comps rose
by a similar rate.
Management stated that sales for the third quarter climbed 7%
versus the prior-year quarter, while all the three divisions
attained comparable-stores sales gains.
Tandy Leather operates 29 Leather Factory stores in 19 states
and 3 Canadian provinces, 78 Tandy Leather retail outlets in 37
states and 6 Canadian provinces, and 3 wholesale/retail combined
outlets in the United Kingdom, Australia and Spain.
Other stocks worth considering in the retail sector, include
Citi Trends, Inc.
Lumber Liquidators Holdings, Inc.
), all sporting a Zacks Rank #1 (Strong Buy).
CITI TRENDS INC (CTRN): Free Stock Analysis
DSW INC CL-A (DSW): Free Stock Analysis
LUMBER LIQUIDAT (LL): Free Stock Analysis
TANDY LEATHER (TLF): Get Free Report
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