Wholesale Leather craft posted sales of $2.3 million for March, losing 6% compared to March 2011 sales of $2.5 million. Within the extensive Leather craft division, the wholesale same store sales were up 2% for the month while the general Account group's sales were down 63% from March 2011. For the year to date, comprehensive Leather craft sales are $7.1 million compared to $6.7 million in 2011, up 5%. As of the end of March, the general same store sales were up 5% compared to the same period last year and the National Account group's sales are up 8%.
Global Leather craft reported March sales of $241,000, up 37% compared to March 2011 sales of $177,000. Same store sales, instead of the UK store, were down 8%, while the new Australia and Spain stores, opened in October 2011 and January 2012, in that order, added March sales of $78,000. For the year to date, global Leather craft sales were $735,000 compared to $509,000 in 2011, up 44%. As of the end of March, same store sales were up 2% compared to the sales reported for the same period in 2011.
Chief managerial Officer and President, Jon Thompson, commented, Sales remain burly as we finish the first sector, with 90% of our stores coverage sales gains. We are abiding to move stores into larger spaces when the timing works. The further space allows the stores to stock larger quantities of leather, which is usually what brings customers into the stores. The UK store's sales loss is due mainly to the timing of orders from several dealers. In addition, our Spain store is now servicing our Spanish customers in order to diminish shipping costs and delivery times. We anticipate that sales shift between the two stores to have a minimal effect on the UK accumulate as it continues to grow its local customer base.
Shannon L. Greene, Chief Financial Officer added, "We guess to see some volatility in our nationalized Account sales throughout the year. We intentionally eliminated a few products from our line that did not meet our internal gross profit boundary targets. As a result, sales to those customers are predictable to fluctuate as those products do no longer exist and substitutions, if available, are found. As we have stated many times in the past, we trust our best avenue for overall growth is with our own stores, not with our National Account customers, although they donate to the power of our customer base."
Categories:
Leather industrial report,
Leather Products,
leather report-2012