FORT WORTH, TEXAS, October 1 /CNW/ - Tandy Leather Factory, Inc.
(AMEX: TLF) today announced that its Canadian subsidiary has acquired Heritan
Leather & Craft Supplies ("Heritan"), a leathercraft store in Montreal,
Quebec, Canada. Heritan's 1800 square foot store in Montreal will operate as a
Tandy Leather store. It is the last of Tandy's ten planned store openings for
2007. Gilles Simoneau, the seller owner of Heritan, will be the manager of the
Ron Morgan, CEO and President, commented, "We are very pleased to have
successfully negotiated this acquisition with Mr. Simoneou as we will now have
a local presence in the province of Quebec. We are even more pleased that Mr.
Simoneau has agreed to manage the store for the next several years. He has 35
years of experience in the leathercraft industry as a store manager and
regional manager of retail stores for Tandy Leather Company of Canada (under
prior ownership) and as a sole proprietor of Heritan Leather & Craft Supplies.
He is a solid manager, having been recognized for highest gross profit margin
producer in Tandy's store system many times."
Tandy Leather Factory, Inc., (http://www.tandyleatherfactory.com),
headquartered in Fort Worth, Texas, is a specialty retailer and wholesale
distributor of a broad product line including leather, leatherworking tools,
buckles and adornments for belts, leather dyes and finishes, saddle and tack
hardware, and do-it-yourself kits. The Company distributes its products
through its 29 Leather Factory stores, located in 19 states and 3 Canadian
provinces, 72 Tandy Leather retail stores, located in 34 states and 6 Canadian
provinces, and Mid-Continent Leather Sales, one store located in Oklahoma. Its
common stock trades on the American Stock Exchange with the symbol "TLF".
This news release may contain forward-looking statements. All
forward-looking statements made here or in other news releases issued by Tandy
Leather Factory, Inc. (TLF) are based on current expectations as of the date
of the release. These forward-looking statements involve risks and
uncertainties that could cause the results of Tandy Leather Factory, Inc. to
differ materially from management's current expectations. Many of these risks
and uncertainties are detailed from time to time in TLF's reports filed with
the Securities and Exchange Commission, including its most recent annual
report on Form 10-K and the most recent quarterly report on Form 10-Q. In
addition, investors should be aware that there are business risks associated
with opening a new chain of retail stores. These risks include the possibility
that stores will not be economically successful or that economic conditions
will impede their profitability.
For further information:
For further information: Tandy Leather Factory, Inc. Ron Morgan,
817-496-4414 or Shannon L Greene, 817-496-4414 firstname.lastname@example.org