Financial Results Announcement - Tandy Leather Factory, Inc. announced its financial results for Q2 2024 on August 7, 2024[3] - The company filed its Quarterly Report on Form 10-Q along with a press release detailing the results[3] - The financial results include key metrics that will be elaborated in the attached press release[3] Regulatory Compliance - The company is not classified as an emerging growth company under the Securities Act[3] - The report was signed by Janet Carr, Chief Executive Officer, confirming its authenticity[6] - The filing is made in compliance with the Securities Exchange Act of 1934[6] Forward-Looking Statements - Forward-looking statements are included in the report, indicating potential future performance and uncertainties[5] - The company is committed to updating its forward-looking statements as required by law[5] Risk and Uncertainties - The report emphasizes the importance of the Annual Report on Form 10-K for understanding risks and uncertainties[5] - The press release is attached as Exhibit 99.1, providing further insights into the financial performance[5]

Core Insights - Tandy Leather Factory, Inc. reported a revenue of $17.3 million for Q2 2024, reflecting a 1.1% decrease from $17.5 million in Q2 2023 [1] - The company generated an operating income of $63,000, down from $0.8 million in the same quarter last year [1] - Net income for the quarter was $0.1 million, a decline from $0.5 million in Q2 2023, resulting in basic and diluted net income per share of $0.01 compared to $0.06 in the prior year [1] - Gross margins decreased to 58.0% from 62.5% in 2023, attributed to accounting adjustments and increased promotional activities [2] - Operating expenses were $10.0 million, down 1.7% from the previous year, indicating cost management efforts in response to declining sales [1][2] - Adjusted EBITDA for the quarter was reported at $0.8 million [1][3] - The company ended the quarter with $11.5 million in cash and cash equivalents, an increase from $10.0 million a year earlier [1] Financial Performance - Revenue: $17.3 million, down 1.1% from 2023 [1] - Operating Income: $63,000, down from $0.8 million in 2023 [1] - Net Income: $0.1 million, down from $0.5 million in 2023 [1] - Gross Margin: 58.0%, down from 62.5% in 2023 [1][2] - Operating Expenses: $10.0 million, down 1.7% from 2023 [1] - Adjusted EBITDA: $0.8 million [1][3] - Cash and Cash Equivalents: $11.5 million, up from $10.0 million a year earlier [1] Management Commentary - The CEO noted that the sales decline reflects customers' lower discretionary income and sluggish spending trends [2] - The company managed to reduce operating expenses nearly by 2% to offset the decline in sales and gross margin [2] - Cash position remains strong despite additional capital expenditures [2]

FORT WORTH, Texas, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company's financial results for the second fiscal quarter of 2024. Highlights from Second Quarter 2024: Revenues were $17.3 million, down 1.1% from 2023 Generated operating income of $63,000 Net income of $0.1 million, down from $0.5 million in 2023 Gross margins of 58.0%, down from 62.5% in 2023 Operating expenses $10.0 million, down 1.7% from 2023 Adjusted EBITDA* of $0.8 million Ended quarte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported:) May 10, 2024 Tandy Leather Factory, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware (State or Other Jurisdiction of Incorporation 1-12368 75-2543540 (Commission File Number) (IRS Employer Identification Number) 1900 Southeast Loop 820, Fort Worth, Texas 76140 (Address of Principal E ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ______________ Commission File Number 1-12368 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Registrant's telephone number, including area code) TANDY LEATHER FACTORY, INC. (Exact name of re ...

Financial Data and Key Metrics Changes - Sales decreased by approximately 5.1% to $76.2 million, attributed to weak consumer demand and the closure of six stores, which accounted for about $1.4 million of the sales decline [32] - Gross profit dollars fell by 2.9% to $45.2 million, but the gross margin rate improved by 130 basis points due to reductions in freight and warehouse overhead, better full-price selling, and product mix adjustments [33] - Operating income increased by $3 million to $4.4 million, driven by a 9.7% decline in operating expenses [20][22] Business Line Data and Key Metrics Changes - The company opened a new store in Queens, New York, in July 2023, which is performing well despite ongoing sales ramp-up [32] - Two additional stores are set to open in Margate, Florida, and Richmond, Virginia, to recoup lost sales from previous closures [21] Market Data and Key Metrics Changes - The company is focusing on optimizing its retail fleet, with 38 leases up for renewal in the next 18 months, indicating a proactive approach to managing underperforming locations [15] Company Strategy and Development Direction - The company is prioritizing profitability and cash flow, with plans to open three to five new stores while maintaining a focus on its core business [23] - A new store model emphasizes a smaller footprint, lower rents, and enhanced customer engagement through workshops and classes [11] - The company is exploring the sale of its Fort Worth property to unlock potential value and excess cash [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging consumer demand environment and emphasized a conservative investment approach to drive sales growth [19] - The focus remains on long-term shareholder value and disciplined capital allocation [12] Other Important Information - The company has no debt and reported a cash increase of $4 million to $12.2 million [10] - Interest income from cash balances was low, approximately $90,000, due to investments in risk-free securities and fluctuations in cash balances throughout the year [37] Q&A Session Summary Question: How far along is the company in optimizing the retail fleet? - Management indicated that the optimization process is ongoing, with substantial work still to be done [25] Question: Why is the interest income on cash balances low? - Management explained that interest income was around $90,000 last year due to cash reaching a low point in Q3 and the initiation of a T-Bill investment program [37] Question: Is there strong interest in the sale of the headquarters? - Management confirmed that there has been strong interest in the sale of the Fort Worth property [43]

Exhibit 99.1 FOR IMMEDIATE RELEASE March 22, 2024 Topic: Tandy Leather 2023 Year-End Investor Call Time: March 26, 2024, 9:00 AM Central Time (US and Canada) Join Zoom Meeting https://us06web.zoom.us/j/84143000816 Meeting ID: 841 4300 0816 Tandy Leather Factory Reports Fourth Quarter and Full Year 2023 Results FORT WORTH, TEXAS – March 22, 2024 (GLOBE NEWSWIRE) – Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company's financial results for the fourth fiscal quarter and full year 2023. Highli ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ________ to________ Commission File Number 1-12368 TANDY LEATHER FACTORY, INC. Title of each class Trading Symbol Name of each exchange on which registered Common Stock ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ______________ Commission File Number 1-12368 TANDY LEATHER FACTORY, INC. (Exact name of registrant as specified in its charter) Delaware 75 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ______________ Commission File Number 1-12368 TANDY LEATHER FACTORY, INC. (Exact name of registrant as specified in its charter) Delaware 75-2543 ...