NEW YORK, Oct 1, 2002 (BUSINESS WIRE) -- The Wall Street Transcript has published an in-depth interview with Shannon Greene, CFO (AMEX:TLF), in which she talks at length about the Company's future.
The entire 2,200 word interview is available free online at
http://www.twst.com/ceos.htm
Shannon gives an overview of the Company, "Two gentlemen, Wray Thompson and Ron Morgan, founded The Leather Factory in 1980. We sell leather and leathercraft supplies such as leatherworking tools, buckles, conchos and other belt supplies, leather dyes and finishes, and saddle and tack hardware. We also sell do-it-yourself leathercraft kits, predominantly to the craft retailers, i.e. the large national craft chains and also the small, individually owned craft stores across the country. We offer a fairly wide variety of products, but it's all leather and leathercraft related."
Shannon explains, "Our plans for the next several years are to focus on expanding the Tandy Leather retail store chain back into the United States primarily. As I indicated, under prior ownership, all their retail stores were closed in 1999. We announced at the end of 2001 that we planned to redevelop that chain again. So far in 2002, we have opened 10 stores and I expect we'll probably open another two to four before the end of the year. I imagine the same pace will hold for 2003."
Looking forward, Shannon states, "We have two goals in mind when it comes to company expansion and growth. We are committed to reducing our debt, which is currently at about $3.5 million. And we don't want to open stores that will drain the profits of the company. We want to grow and expand the company while still reducing our debt and continuing to add to our profits."
This interview is part of a 41 - page Specialty Finance / Mortgage Finance Issue available at http://www.twst.com/info/info621.htm or by calling 212/952-7433
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673.
CONTACT: The Leather Factory, Inc. Shannon Greene, 817/496-4414
sgreene@leatherfactory.com
Copyright (C) 2002 Business Wire. All rights reserved.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Tandy Leather Factory, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.