Tandy Leather Factory Reports 2024 Financial Results

Tandy Leather Factory, Inc. ( (TLF) ) has released its Q4 earnings. Here is a breakdown of the information Tandy Leather Factory, Inc. presented to its investors.

Tandy Leather Factory, Inc., headquartered in Fort Worth, Texas, is a specialty retailer offering a diverse range of leather products and tools through its extensive network of stores across North America and Europe.

In its latest earnings report, Tandy Leather Factory announced its financial results for the fourth quarter and full year of 2024, highlighting a slight decline in revenues and net income compared to the previous year. Despite the challenging retail environment, the company managed to maintain profitability and increase its cash reserves.

The company’s revenues for 2024 were reported at $74.4 million, marking a 2.4% decrease from 2023. Operating income stood at $0.6 million, while net income fell to $0.8 million from $3.8 million in the prior year. Gross margins also saw a decline, dropping from 59.2% in 2023 to 56.2% in 2024. Operating expenses rose slightly to $41.2 million, contributing to the reduced profitability. However, Tandy Leather Factory ended the year with a stronger cash position, holding $13.3 million in cash and cash equivalents.

Looking ahead, Tandy Leather Factory aims to enhance sales through its stores and e-commerce channels while managing the transition of its headquarters and flagship store. The company anticipates that these changes may impact profitability in 2025 but expects to be well-positioned for a rebound in sales and profits by 2026.