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Tandy Leather Factory (TLF) investor relations material
Tandy Leather Factory Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales for Q2 2025 increased 2.8% year-over-year to $17.8 million, driven by successful sales campaigns and higher productivity in U.S. retail stores.
Gross profit rose to $10.6 million, with gross margin improving by 150 basis points due to inventory cost adjustments and pricing changes.
Operating expenses increased 5.5%, mainly from higher occupancy, leasing, and relocation costs related to new hires and facility moves.
Net loss for Q2 2025 was $0.2 million, compared to net income of $0.1 million in Q2 2024; EPS at a loss of $0.02 per share.
A one-time gain of $17.7 million from the sale of the corporate headquarters boosted six-month net income to $12.5 million.
Financial highlights
Six-month net sales rose 0.7% year-over-year to $36.8 million.
Six-month gross profit increased 1.7% to $21.3 million, with gross margin up 50 basis points.
Operating income for the six months was $0.3 million, down from $0.7 million in the prior year.
Net income for the six months was $12.5 million, up from $0.6 million, primarily due to the headquarters sale.
Basic and diluted EPS for the six months were $0.06, compared to $0.07 in the prior year.
Outlook and guidance
Full-year 2025 is expected to show operating losses due to increased costs from leasing and facility moves.
Focus remains on managing operating expenses and gross margin to deliver free operating cash and operating income amid economic headwinds.
Selective investment in profitable sales growth will continue, but rebuilding a durable, profitable business model is the top priority.
Management aims to maintain sales momentum into Q3 2025.
Newly announced tariffs may impact future sales and profits.
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