Tandy Leather Factory Reports Q4’17 Sales Up 1.7% Over Prior Year 4th Quarter and Schedules Earnings Announcement and Conf...
February 08 2018 - 8:00AM
Tandy Leather Factory, Inc. (NASDAQ:TLF) reported today sales for
the fourth quarter of 2017 and announced plans to release financial
results for the three and twelve months ended December 31, 2017.
- Total sales for the fourth quarter of 2017 were $24.5 million,
up 1.7% over fourth quarter 2016. North America increased
2.1%, while International decreased 8.0%.
- The company’s 2017 EPS are expected to be negatively impacted
by an estimated 3 cents from the new US tax law, primarily due to
the deemed repatriation of accumulated overseas earnings and
profits.
- Tandy’s 2017 financial results will be released on Wednesday,
March 7, 2018 after the market closes. A conference call will
be conducted by senior management at 10:00 am Eastern Time on
Thursday, March 8, 2018, and will be accessible to the public by
calling 877-312-5524 or 253-237-1144. Callers should dial in
approximately 5 minutes before the call begins. A conference
call replay will be available through 12:00 p.m. Eastern Time on
March 13, 2018 and can be accessed by calling 855-859-2056 or
404-537-3406. For both, reference conference ID number
5879805. This call will be webcast and accessible at the
company’s web site at www.tandyleather.com.
Shannon Greene, CEO, commented, “We were pleased
to deliver a strong finish to the year, with our sales improvement
the result of new merchandising efforts, targeted holiday
promotions – particularly Black Friday and Super Saturday, as well
as the expanded December shopping hours in our US stores. By
customer group, however, the trends we’ve seen all year continued
as our retail customers accounted for a 7% sales increase, while
our sales to our non-retail customers were down 5%. While we
don’t like the negative trend with our non-retail customers, the
decrease in the fourth quarter was less than the 9% that we had
experienced through the first nine-months of 2017. If there
is a silver lining, it is that the shift in customer mix to more
retail and less non-retail supports our gross profit margin.
I look forward to sharing more of our 2017 results and our
long-term outlook and strategic plans in early March.”
Tandy Leather Factory, Inc., (http://www.tandyleather.com),
headquartered in Fort Worth, Texas, is a specialty retailer of a
broad product line including leather, leatherworking tools, buckles
and adornments for belts, leather dyes and finishes, saddle and
tack hardware, and do-it-yourself kits. The Company distributes its
products through its 115 North American stores located in 42 US
states and 7 Canadian provinces, and four International stores
located in the United Kingdom, Australia, and Spain. Its
common stock trades on the Nasdaq with the symbol "TLF". To
be included on Tandy Leather Factory’s email distribution list, go
to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.
Contact: |
Tina
Castillo, Tandy Leather Factory, Inc. |
(817)
872-3200 or tcastillo@tandyleather.com |
|
Mark
Gilbert, Magellan Fin, LLC |
(317)
867-2839 or MGilbert@MagellanFin.com |
This news release may contain statements regarding future
events, occurrences, circumstances, activities, performance,
outcomes and results that are considered “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Actual results and events may differ from those
projected as a result of certain risks and uncertainties. These
risks and uncertainties include but are not limited to: changes in
general economic conditions, negative trends in general
consumer-spending levels, failure to realize the anticipated
benefits of opening retail stores; availability of hides and
leathers and resultant price fluctuations; change in customer
preferences for our product, and other factors disclosed in our
filings with the Securities and Exchange Commission. These
forward-looking statements are made only as of the date hereof, and
except as required by law, we do not intend to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Tandy Leather Factory (NASDAQ:TLF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tandy Leather Factory (NASDAQ:TLF)
Historical Stock Chart
From Apr 2023 to Apr 2024