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Earnings Call Summary | Tandy Leather Factory(TLF.US) Q4 2023 Earnings Conference

Futu News ·  Mar 26 23:06  · Conference Call

The following is a summary of the Tandy Leather Factory, Inc. (TLF) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Tandy Leather Factory reported a decline of about 5% in sales to $76.2 million due to weak consumer demand.

  • Despite the decrease in sales, the operating income witnessed an increase from the previous year by $3 million, landing at $4.4 million.

  • The adjusted EBITDA was $6.5 million, up $2.5 million from last year. Cash increased over $4 million to $12.2 million, and the company has no debt.

Business Progress:

  • The company continued to optimize its retail fleet with store renewals, relocations, and closures of underperforming outlets.

  • Two new store leases were signed in Florida and Virginia with the expectations of boosting sales.

  • A new, smaller store model was tested in New York showing initial success and plans for three to five additional new stores in 2024 are in place.

  • The potential sale of the underutilized Fort Worth property is under consideration, which could potentially return value to shareholders.

More details: Tandy Leather Factory IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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