Form 8-K
8-K — TANDY LEATHER FACTORY INC
Accession: 0001140361-26-020562
Filed: 2026-05-11
Period: 2026-05-11
CIK: 0000909724
SIC: 3100 (LEATHER & LEATHER PRODUCTS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — ef20072747_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ef20072747_ex99-1.htm)
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8-K
8-K (Primary)
Filename: ef20072747_8k.htm · Sequence: 1
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
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 11, 2026
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 Executive Offices)
(Zip Code)
(817) 872-3200
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.0024
TLF
Nasdaq
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.
Results of Operations and Financial Condition
On May 11, 2026, Tandy Leather Factory, Inc. (the “Company”) issued a press release (the “Press Release”) and filed its Quarterly Report on Form 10-Q
announcing its financial results for the first quarter of fiscal year 2026. A copy of the Press Release is attached as Exhibit 99.1.
The information furnished pursuant to Item 2.02 of this report and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934 as amended (the “Exchange Act”, or otherwise subject to liabilities under that section, nor shall they be deemed incorporated by reference in any filing of the Company with the Securities and Exchange Commission
under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
No.
Exhibit
99.1
Press Release dated May 11, 2026
104
Cover page interactive data file (embedded within the Inline XBRL document)
Forward Looking Statements
Certain statements contained in this report and other materials the Company
files with the SEC, as well as information included in oral statements or other written statements made or to be made by the Company, other than statements of historical fact, are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “may,” “will,” “could,” “should,” “anticipate,” “believe,” “budgeted,”
“expect,” “intend,” “plan,” “project,” “potential,” “estimate,” “continue,” “outlook,” “forecast” or “future,” variations thereof or other similar statements. Please refer to the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2024 for additional information concerning these and other uncertainties that could negatively impact the Company. The Company assumes no obligation to update or otherwise revise its forward-looking statements, except as
required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
TANDY LEATHER FACTORY, INC.
Date: May 11, 2026
By: /s/ Johan Hedberg
Johan Hedberg, Chief Executive Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ef20072747_ex99-1.htm · Sequence: 2
Exhibit 99.1
FOR IMMEDIATE RELEASE
May 11, 2026
Tandy Leather Factory Reports First Quarter 2026 Results
BENBROOK, TEXAS – May 11, 2026 (GLOBE NEWSWIRE) – Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the first fiscal quarter of
2026.
Highlights from first quarter 2026:
•
Revenues were $19.7 million, up 3.2% from 2025
•
Generated operating income of $0.4 million versus $0.3 million in 2025
•
Net income of $0.2 million versus $11.6 million in 2025 (from sale of headquarters)
•
Gross margins of 61.0%, up from 56.3% in 2025
•
Operating expenses $11.6 million, up 11.2% from 2025
•
EBITDA from operations of 0.7 million
•
Ended quarter with $10.1 million of cash and cash equivalents
Tandy Leather Factory’s first quarter sales were $19.7 million in 2026, up from $19.0 million in 2025. First quarter 2026 gross profit was $12.0 million, up
from $10.7 million in 2025. As of March 31, 2026, the Company held $10.1 million of cash and cash equivalents, down from $16.1 million a year earlier; this decrease reflects the payment of a special dividend to stockholders in the first quarter of
approximately $6.1 million, ongoing payment of income taxes related to the Company’s sale of its headquarters facilities in 2025, and other expenses relating to the Company moving its headquarters in the third quarter of 2025. The Company held
inventory of $33.7 million, up from $33.2 million as of December 31, 2025. The Company had basic and diluted net income in the quarter of $0.03 per share, versus $1.36 basic and $1.35 diluted net income per share in the prior year, when the Company
completed its headquarters sale.
Johan Hedberg, Chief Executive Officer of the Company, said, “We are happy to have
delivered another growth quarter with increases in sales and operating income from the year-ago quarter and with our ability to pay another substantial dividend ($0.75 per share) to our stockholders. We were also able to increase our gross
margins, primarily driven by pricing changes. Although our operating expenses rose from a year ago, driven by compensation, investments in Operations and technology and occupancy costs (including increased rent for now renting our headquarters
facility and Fort Worth flagship store), our increased sales and margins were able to offset that and deliver more profit from operations.”
Investors are encouraged to send their questions to the Company’s investor relations hotline at investorrelations@tandyleather.com.
Quarter ended
March 31, 2026
Net income
$
0.2
Add back:
Depreciation and amortization
0.3
Interest income
(0.1
)
Income tax provision
0.2
Stock-based compensation
0.1
EBITDA
$
0.7
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 100 stores located in 40 US states and six Canadian provinces, including one store located in Spain. Its common stock trades on
the Nasdaq Capital Market under 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: Johan Hedberg, Tandy Leather Factory, Inc., (817) 872-3200 or johan.hedberg@tandyleather.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.
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May 11, 2026
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