FORTH WORTH, Texas (AP) — Tandy Leather Factory Inc. said Thursday that a key sales measure was flat for December.
Its revenue from stores open at least a year is considered an important indicator of financial health because it strips away results from recently opened or closed stores. While flat for December, this measure is up 9 percent for the year.
Tandy said that total revenue for the month of December was $7.6 million, equal to the prior year. Its revenue for the year is up 8 percent to $78.5 million, helped by gains in its wholesale and international divisions.
Company CEO Jon Thompson said that while the month's sales were not as strong as in months past, they were in line with internal projections. He added that while continued sales gains can get more difficult to achieve year after year, the company expects 2014 to continue on a positive sales trend.
The company, based in Fort Worth, Texas, sells leather and related tools at more than 100 stores worldwide.
Shares of the company fell 28 cents, or 2.9 percent, to $9.53 by midmorning Thursday, outpacing a broader market dip.