olivLaw · US equity research
Tandy Leather Factory, Inc. TLF
Leather & Leather Products · SIC 3100 · Vertical: Leather products (SIC 31xx)
Tandy Leather Factory is one of the world's largest specialty retailers of leather and leathercraft items, selling through its own store network, its websites and a commercial division for business customers. In the second quarter of 2026 the company returned to operating income while sales grew modestly, with gross margin rising to 64.8%. For investors following a niche retailer with a thin cash position, these results matter, but cash fragility remains a central question.
At the close of 04 Nov 2026, Tandy Leather Factory, Inc. (TLF) stock was 2.28 USD (−0.22% on the day), with market capitalisation 18.6 m USD, dividend yield 32.49%, beta 0.12, 52-week range 2.20–3.20 USD. Latest reported quarter (Q2 2026): revenue of 18.0 m USD (+1.5% YoY), net income of 409.0 k USD, diluted EPS 0.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.3
- weak (30–45)
- Bollinger (20, 2)
- 2.17 – 2.49
- in the lower half of the band · %B 0.33 · band width 13.7%
- SMA 50 / 200
- 2.49 / 2.50
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.07 / -0.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −8.6% | −1.1% | −7.5 pp | — |
| 3 months | −6.0% | −0.5% | −5.5 pp | — |
| 6 months | −6.4% | +4.4% | −10.8 pp | — |
| Year to date | −17.0% | +12.3% | −29.3 pp | — |
| 1 year | −24.4% | +13.5% | −38.0 pp | +14.7% |
| 3 years | −46.5% | +76.4% | −122.9 pp | +12.1% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17.4 m | 20.5 m | 19.0 m | 17.8 m | 17.3 m | 22.3 m | 19.7 m | 18.0 m |
| Cost of revenue | 7.3 m | 9.6 m | 8.3 m | 7.2 m | 7.1 m | 10.2 m | 7.7 m | 6.3 m |
| Gross profit | 10.0 m | 10.8 m | 10.7 m | 10.6 m | 10.2 m | 12.1 m | 12.0 m | 11.7 m |
| Operating income | -267.0 k | 183.0 k | 262.0 k | 66.0 k | -678.0 k | -612.0 k | 365.0 k | 543.0 k |
| Pre-tax income | -183.0 k | 418.0 k | 15.8 m | -180.0 k | -1.8 m | -1.1 m | 368.0 k | 622.0 k |
| Income tax | -51.0 k | 86.0 k | 4.2 m | 19.0 k | -481.0 k | -159.0 k | 146.0 k | 213.0 k |
| Net income | -132.0 k | 332.0 k | 11.4 m | -199.0 k | -1.4 m | -930.0 k | 222.0 k | 409.0 k |
| Diluted EPS | -0.02 | 0.03 ≈ | 1.35 | -0.02 | -0.17 | -0.12 ≈ | 0.03 | 0.05 |
| Operating cash flow | -535.0 k ≈ | 4.5 m | -536.0 k | -3.6 m ≈ | -1.4 m ≈ | 5.0 m | 906.0 k | -3.3 m ≈ |
| Capex | 887.0 k ≈ | 668.0 k | 1.3 m | 3.7 m ≈ | 1.6 m ≈ | 947.0 k | 587.0 k | 415.0 k ≈ |
| Dividends paid | 0 ≈ | 0 | 12.7 m | 0 ≈ | 0 ≈ | 0 | 6.1 m | 0 ≈ |
| Share repurchases | 0 ≈ | 0 | — | — | 1.3 m ≈ | -107.0 k | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 83.2 m | 74.9 m | 64.1 m | 82.7 m | 80.3 m | 76.2 m | 74.4 m | 76.3 m |
| Revenue YoY | +0.9% | −10.0% | −14.5% | +29.0% | −2.8% | −5.1% | −2.4% | +2.6% |
| Net income | 4.4 m | -1.9 m | -4.9 m | 1.4 m | 1.2 m | 3.8 m | 827.0 k | 9.1 m |
| Net income YoY | +77.5% | −143.3% | unavailable | unavailable | −9.4% | +207.1% | −78.1% | +1,000.6% |
| Diluted EPS | 0.48 | -0.21 | -0.54 | 0.16 | 0.15 | 0.45 | 0.09 | 1.10 |
| Diluted EPS YoY | +77.8% | −143.8% | unavailable | unavailable | −6.3% | +200.0% | −80.0% | +1,122.2% |
| net % | 5.3% | -2.5% | -7.6% | 1.6% | 1.5% | 4.9% | 1.1% | 11.9% |
| Free cash flow | 6.7 m | 10.2 m | -13.8 m | 2.7 m | 519.0 k | 4.0 m | 1.6 m | -8.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 16.1 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 52.6 m USD
- Total assets
- 86.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 5.16x
- ROE
- 16.6%
- ROA
- 11.3%
- FCF margin
- -10.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 64.1 m | 82.7 m | 80.3 m | 76.2 m | 74.4 m | 76.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | 28.0 m | 35.7 m | 33.8 m | 31.1 m | 32.6 m | 32.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | 36.1 m | 47.0 m | 46.5 m | 45.2 m | 41.8 m | 43.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | -6.3 m | 2.3 m | 1.4 m | 4.4 m | 628.0 k | -963.0 k | SEC (XBRL)· 24 Feb 2026verified |
| Interest expense | 7.0 k | 16.0 k | — | — | — | — | SEC (XBRL)· 31 Mar 2022verified |
| Pre-tax income | -6.3 m | 2.2 m | 1.4 m | 4.5 m | 1.1 m | 12.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | -1.4 m | 839.0 k | 181.0 k | 777.0 k | 264.0 k | 3.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | -4.9 m | 1.4 m | 1.2 m | 3.8 m | 827.0 k | 9.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | -0.54 | 0.16 | 0.15 | 0.45 | 0.09 | 1.10 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 9.1 m | 8.7 m | 8.4 m | 8.4 m | 8.8 m | 8.3 m | SEC (XBRL)· 24 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 10.3 m | 10.2 m | 8.0 m | 12.2 m | 13.3 m | 16.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 400.0 k | 600.0 k | 400.0 k | 300.0 k | 331.0 k | 425.0 k | SEC (XBRL)· 24 Feb 2026verified |
| Inventories | 36.8 m | 38.1 m | 38.2 m | 38.0 m | 35.6 m | 33.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 51.0 m | 50.4 m | 47.3 m | 51.3 m | 50.5 m | 50.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 12.4 m | 11.8 m | 11.2 m | 10.5 m | 12.3 m | 10.2 m | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 6.0 k | 6.0 k | 5.0 k | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Total assets | 75.7 m | 73.1 m | 68.6 m | 72.1 m | 74.9 m | 86.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 5.7 m | 4.8 m | — | — | — | — | SEC (XBRL)· 31 Mar 2022verified |
| Short-term debt | 0 | 79.0 k | 0 | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Long-term debt | 446.0 k | 336.0 k | 0 | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Current liabilities | 12.9 m | 12.2 m | 8.9 m | 8.9 m | 9.9 m | 9.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 52.2 m † | 51.5 m † | 51.5 m † | 56.3 m † | 57.2 m † | 52.6 m † | SEC (XBRL)· 24 Feb 2026verified |
| Shares outstanding at year end | — | 8.5 m | — | — | — | — | SEC (XBRL)· 20 Dec 2021verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -12.5 m | 3.7 m | 1.2 m | 4.5 m | 4.5 m | -556.0 k | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 1.3 m | 1.0 m | 635.0 k | 576.0 k | 3.0 m | 7.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | -13.8 m ≈ | 2.7 m ≈ | 519.0 k ≈ | 4.0 m ≈ | 1.6 m ≈ | -8.1 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Investing cash flow | 6.3 m | -1.0 m | -625.0 k | -576.0 k | -3.0 m | 17.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | 416.0 k | -2.8 m | -2.2 m | -26.0 k | -1.0 k | -14.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Dividends paid | — | — | — | — | 0 | 12.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 0 | 2.7 m | 1.8 m | 11.0 k | 0 | 1.4 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 41.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 18.6 m USD
Key indicators
Coverage and freshness
Score by group
42% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 41.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -2.1% | 11 (vs peers) | 15% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -1.7% | 0 (on a fixed band) | 20% |
| EPS CAGR 3Y · Growth | 94.3% | 100 (on a fixed band) | 20% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.6x | 100 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -12.4% | 0 (on a fixed band) | 20% |
| Shareholder yield (distributions) · Returns | 39.8% | 100 (on a fixed band) | 15% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality· partial11/100 · 1/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TANDY LEATHER FACTORY, INC (TLF). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 76.3 m USD in 2025; YoY growth 2.6%; net margin -2.1%; ROE -3.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 41.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EPS CAGR 3Y: 94.3%
- Current ratio: 4.6x
- Shareholder yield (distributions): 39.8%
What contradicts it
- Net margin: -2.1%
- Revenue CAGR 3Y: -1.7%
- FCF yield: -12.4%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Leather products (SIC 31xx) · same major group (2-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TPRTapestry, Inc. | 25.0 bn | 17.2 | 197.1% | 19.1% | +14.2% | +15% / +296% |
| SHOOSteven Madden, Ltd. | 3.4 bn | 22.9 | 16.7% | 5.4% | +11.0% | +12% / +24% |
| CPRICapri Holdings Limited | 2.2 bn | 12.0 | — | 6.1% | −4.1% | −16% / −56% |
| WWWWolverine World Wide, Inc. | 1.9 bn | 18.2 | 27.1% | 5.5% | unavailable | +45% / +174% |
| CALCaleres, Inc | 507.6 m | 9.9 | 8.2% | 1.8% | +1.3% | +26% / −52% |
| RCKYRocky Brands, Inc. | 411.2 m | 12.0 | 13.2% | 6.6% | +6.2% | +80% / +89% |
| VRAVera Bradley, Inc. | 216.0 m | — | -7.4% | -3.7% | −15.4% | +165% / +0% |
| TLFTandy Leather Factory, Inc | 18.6 m | — | -3.2% | -2.1% | +2.6% | −24% / −46% |
| FMFCKandal M Venture Limited | — | 366.0 | 76.7% | 1.2% | +23.0% | −85% / unavailable |
| BIRKBirkenstock Holding plc | — | — | 13.0% | 16.6% | +16.2% | −14% / −19% |
1- and 3-year price returns: for TLF from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Tandy Leather Factory is one of the world's largest specialty retailers of leather and leathercraft items, selling through its own store network, its websites and a commercial division for business customers. In the second quarter of 2026 the company returned to operating income while sales grew modestly, with gross margin rising to 64.8% 3. For investors following a niche retailer with a thin cash position, these results matter, but cash fragility remains a central question.
SWOT
Strengths
- Strong brand recognition, a long history and a store network offering services, classes and a hands-on experience that online sellers find hard to match 1.
- Volume purchasing and a diversified supplier base give the company a sourcing advantage over smaller competitors 1.
- Return to operating income in the first half of 2026, with a significantly higher gross margin 23.
Weaknesses
- Cash fell considerably in the first half of 2026 after dividend payments and investments in inventory and new stores 3.
- Long-term, non-cancelable leases limit flexibility in closing unprofitable stores 1.
- Sales are seasonal and concentrated in the fourth quarter, which leaves profit exposed to demand shortfalls 1.
Opportunities
- Expanding e-commerce and international sales, including through marketplaces and a new loyalty program 13.
- Opening new stores and expanding workshop space could increase foot traffic and class revenue 12.
- Developing the commercial division for customers who build businesses around leather could bring more stable contracts 1.
Risks
- Liquidity under pressurehigh
Cash declined significantly in the first half of 2026, and the company states it cannot guarantee it will secure all the additional cash it may need if costs exceed estimates 13.
- Lease commitmentsmedium
Long-term, non-cancelable leases could oblige the company to keep paying rent even after closing an unprofitable store 1.
- Global supply chainmedium
The company depends on suppliers in the United States and about 20 foreign countries, and shipping disruptions, tariffs or embargoes could affect product availability 1.
- Dependence on the distribution centermedium
Most inventory moves through the Benbrook center, and a disruption there could affect stores and online orders 1.
- Transformation strategymedium
The success of store closures, relocations and new store formats is not assured, and costs and timing may differ from expectations 1.
Investment thesis
What would need to be true (bull case)
- If the recovery in sales and the gain in gross margin continue, the company could turn its recent operating profit into a sustained trend 23.
- A brand more than a century old and a store network with services and classes could offer an advantage that is hard to copy in the leathercraft niche 1.
- Expanding e-commerce and the loyalty program could attract new customers without large store-level costs 13.
What would break the thesis
- Falling cash and the absence of borrowing under its credit line could force the company to raise additional funding if sales do not improve 13.
- Rising operating costs, including staff and occupancy, could erase margin gains if sales stay roughly flat 23.
- Online competition and price pressure from large retailers could limit the company's ability to hold current margins 1.
What to watch
- Cash trend and any borrowing under the credit lineQ3 2026
- Opening of the relocated Canadian store and new US storesQ4 2026
- Holiday season sales and gross margin trendQ4 2026
- Early results of the loyalty program and the new POS system2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Founded in 1919 in Fort Worth, Texas, the company sells leather, tools, hardware, kits and teaching materials for leatherworkers through its 101 stores, its global e-commerce sites and its commercial division 12. It manufactures about 10% of its products at its Benbrook facility, including kits, lace, belt strips and tooling templates, and ships from the same distribution center 1. The headquarters and distribution facilities are leased, and the January 2025 sale of the Fort Worth buildings produced a gain of 16.2 million USD 2.
The company describes its competitive advantage as its store network, which offers classes, open workbenches, staff expertise and the chance to touch and test leather before buying, along with a brand history of more than a century 1. Its stated strategy includes opening new stores, expanding workshop space, growing e-commerce, launching a new loyalty program and modernizing digital capabilities, including artificial intelligence where applicable 13.
The company had 538 employees at December 31, 2025, of whom 401 were full-time, and it has no collective bargaining agreements 1. The chief executive officer joined in January 2025 after more than 30 years of retail leadership at other companies in the industry 1.
Segments
Retail stores and online sales
Stores and global websites generate most sales, and the company says the holiday season has traditionally brought more than a quarter of annual sales 1. In the second quarter of 2026, management attributed the sales increase to both retail and e-commerce channels 3.
Commercial division
The commercial division serves customers who use leather in their businesses, with direct-from-warehouse shipping, volume pricing and production or pre-assembly services 12. The typical annual spending threshold to access this channel is above 20,000 USD 1.
Own production and kits
The Benbrook factory makes kits, lace, belt strips and Craftaid templates, but its share of total products is limited, and most goods are bought from external suppliers 1.
Market context
The company operates in the leathercraft niche, a specialized and relatively narrow segment whose customers include hobbyists, schools, camps and small businesses 1. Demand depends on discretionary consumer spending, which the company says has been affected in recent years by inflation, higher interest rates and tariff uncertainty 1.
Leather prices depend on international markets and raw material availability, and the company does not hedge its inventory costs 1. Competition from online retailers and general craft chains, along with declining traffic at shopping centers, shapes access to customers 1.
Trends
- Gradual recovery in discretionary spendingtailwind
Management observed a slight positive change in customer behavior at the start of 2025, and the sales gain in the second quarter of 2026 was attributed to sales campaigns and better product mix 12. If this trend holds, it could support demand for hobby and craft purchases.
- Inflation and cost pressureheadwind
Labor, occupancy and supplier costs have risen, and operating expenses increased in the first half of 2026, which could limit profitability if sales do not grow enough 23.
- Tariffs and global tradeheadwind
Tariffs, trade tensions and political instability could raise the cost of imported leather and finished goods, and management says the impact of the US administration's policies remains unclear 1.
- Digital commerce and loyalty programsmixed
Expanding e-commerce, marketplaces and a new loyalty program with in-store pickup could reach customers beyond store catchments, although acquisition and technology costs may rise 13.
Competitive position
Competitors include small independent stores, online retailers such as Amazon and eBay, national craft chains such as Michaels and Hobby Lobby, and two mid-sized competitors with one store and an online business 1. The company considers itself the only multi-store chain specializing in leathercraft, an advantage it regards as hard to replicate 1.
Smaller competitors may sometimes offer similar products at lower prices, and online retailers can cut prices because they do not support a store network 1. The company says it is competitive on price, selection, service and delivery, but it remains under pressure on pricing 1.
- Michaels Stores, Inc.
national craft chain that devotes part of its selling space to competing products and has greater financial resources 1
- Hobby Lobby Stores, Inc.
craft retailer with a broad assortment that overlaps with part of the company's product range 1
- Weaver Leather
mid-sized competitor with one store and an online channel and a more limited product line 1
- Springfield Leather
mid-sized competitor with one store and an online channel and a more limited product line 1
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Charles Tandy, the mastermind behind Radio ShackHacker News · 03 Nov 2026 · EN
SEC filings
- Current report11 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report11 Aug 2026
- Current report10 Jun 2026Departure or appointment of officers · Shareholder vote
- Current report11 May 2026Results of operations · Financial statements and exhibits
- Quarterly report11 May 2026
- Proxy statement27 Apr 2026
- Current report24 Feb 2026Results of operations · Financial statements and exhibits
- Annual report24 Feb 2026
- Current report10 Nov 2025Results of operations · Financial statements and exhibits
- Quarterly report10 Nov 2025
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Tandy Leather Factory, Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Tandy Leather Factory, Inc. · 11 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Tandy Leather Factory, Inc. · 11 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.