Tandy Leather Nov. Revenue Metric Up 13 Percent

Tandy Leather Factory sells products including buckles, saddle hardware and leatherworking tools

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    NEWSLETTERS

    Tandy Leather Factory
    Tandy Leather sales up in November.

    Tandy Leather Factory Inc.'s revenue at stores open at least a year climbed 13 percent in November on a strong Black Friday weekend showing, the company said Thursday.

    This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

    Thanksgiving weekend revenue increased 17 percent from a year ago, Chief Financial Officer Shannon Greene said in a statement.

    A record 226 million shoppers visited stores and websites during the four-day Thanksgiving holiday weekend starting last Thursday, up from 212 million last year, according to early estimates by the National Retail Federation released on Sunday. Americans spent more, too: The average holiday shopper spent $398.62 over the weekend, up from $365.34 a year ago.

    Sales on Black Friday, the day after Thanksgiving, rose 7 percent to $11.4 billion, the largest amount ever spent, according to ShopperTrak, which gathers stores' data.

    Tandy Leather Factory sells products including buckles, saddle hardware and leatherworking tools at Leather Factory and Tandy Leather stores.

    Retail Leathercraft revenue increased 14 percent to $3.7 million, while wholesale Leathercraft revenue fell 5 percent to $2.4 million. International Leathercraft, which includes one store in the U.K. and one store in Australia, reported a 41 percent surge in revenue for November.

    Monthly revenue rose 7 percent to $6.4 million, a new monthly revenue record.

    "Fourth-quarter sales have been solid so far and we have no reason to expect December to be any different," CEO and President Jon Thompson said in a statement.

    Year-to-date revenue increased 10 percent to $59.1 million. Retail Leathercraft revenue gained 16 percent to $33.1 million, while wholesale Leathercraft revenue edged up 2 percent to $24 million and international Leathercraft revenue rose 26 percent to $1.9 million.

    Revenue at stores open at least a year climbed 14 percent.

    Tandy Leather, based in Fort Worth, Texas, has 29 Leather Factory stores in 19 states and three Canadian provinces. It has 77 Tandy Leather stores in 36 states and six Canadian provinces and two wholesale/retail stores in the U.K. and Australia.