As of Dec 31, 2016, the company operated 27 'The Leather Factory' wholesale stores in 18 states and 3 Canadian provinces, 86 'Tandy Leather Company' retail stores in 38 states and 6 Canadian provinces, and 4 combination retail/wholesale stores outside of North America.
In fiscal 2016, the company opened 4 and closed 2 retail stores. Long term, the company intends to expand the Tandy Leather retail footprint to between 100 and 120 stores throughout North America.
The company owns the building housing its flagship store in Fort Worth, TX, and the remaining stores are leased. The majority of stores have initial lease terms of at least 5 years, and are generally renewable, with increases in lease rental rates in some cases.
Wholesale stores are generally located in light industrial office/warehouse space in close proximity to a major freeway or with other similar access, and range in size from 2,350 to 22,000 square feet, with an average size of approximately 5,000 square feet. Tandy Leather retail stores are generally in an older strip shopping centers located at well-known crossroads, range in size from 1,200 to 9,000 square feet and average approximately 3,300 square feet.
|Total gross square feet (M)||419||419||411||382||374||332|
|Total gross square feet growth||2.0%||2.0%||7.5%||2.1%||12.6%||11.1%|
|Avg store gross sq ft||3,600||3,600||3,600||3,400||3,400||3,000|
|Avg store gross sq ft growth||-0.6%||-0.6%||6.6%||0.3%||11.6%||9.1%|