Tandy Leather Factory Reports Fourth Quarter and Full Year 2022 Results

FORT WORTH, Texas, April 03, 2023 (GLOBE NEWSWIRE) — On March 31, 2023, Tandy Leather Factory, Inc. (Nasdaq: TLF) announced the Company’s financial results for the fourth quarter and full year 2022. Highlights from 2022: Janet Carr, Chief Executive Officer of the Company, said, “In 2022 our sales declined 2.8% and gross profits declined 1.1% from a strong 2021, as consumer demand was inhibited by inflation and ongoing economic uncertainty, and moderated over stimulus-driven highs in 2021. Operating expenses increased by $0.4 million, or 0.9%, from 2021, driven by higher wages and some irregular expenses. Although gross profits declined by…