New York, May 22, 2026, 06:05 EDT
- Tandy Leather was quoted at $2.34 in premarket trading after closing at $2.37 on Thursday.
- The next company-specific catalyst remains its May 11 first-quarter report, not a fresh filing or release.
- Nasdaq’s next U.S. equity-market closure is Monday, May 25, for Memorial Day.
Tandy Leather Factory Inc. shares slipped in early premarket dealing on Friday, with the leathercraft retailer quoted at $2.34 after closing Thursday at $2.37. Premarket trading means orders placed before the regular U.S. cash session, when volume can be thin and price moves harder to read.
The move matters now because Tandy is a small, lightly traded Nasdaq name heading into the last regular U.S. equity session before the Memorial Day weekend. Nasdaq’s holiday calendar shows U.S. equity markets closed on Monday, May 25.
There was no new company release in the last day. Tandy’s investor-relations page lists its latest news release as May 11, when it reported first-quarter results, putting Friday’s price action more in the camp of post-earnings positioning than fresh fundamental news.
The company reported first-quarter revenue of $19.7 million, up 3.2% from a year earlier, and operating income of $0.4 million, compared with $0.3 million a year earlier. Gross margin — the share of sales left after product costs — rose to 61.0% from 56.3%.
Net income fell sharply to $222,000, or 3 cents a share, from $11.6 million, or $1.35 a diluted share, a year earlier. The comparison was skewed because last year’s quarter included a large gain from the sale of the company’s headquarters.
Chief Executive Johan Hedberg said the company had delivered “another growth quarter” and said higher gross margins were “primarily driven by pricing changes.” He also pointed to higher compensation, technology and occupancy costs, including rent tied to the former headquarters and Fort Worth flagship store. Barchart
That is the trade investors are weighing: modest sales growth and better margins against a lower headline profit number and a smaller cash cushion. Tandy ended March with $10.1 million in cash and equivalents, down from $16.1 million at the end of 2025, after a roughly $6.1 million dividend payment and other cash uses.
The company said in its 10-Q that sales rose mainly because of sales campaigns, better product allocation in stores and growth in classes and community engagement. It also said pricing changes drove most of the 4.7 percentage-point improvement in gross margin.
Tandy remains a niche retailer rather than a broad consumer-discretionary proxy. It operated 100 retail stores as of March 31 — 91 in the United States, eight in Canada and one in Spain — and sells through stores, websites and direct commercial accounts.
The risk is that the same pricing lever that helped margins could cut the other way. Tandy warned that higher tariffs, especially on products imported mainly from China and Brazil, could raise costs and force price increases that hurt sales; it also said rent on new headquarters and flagship-store facilities could top $1.6 million a year and weigh on results if profit does not rise enough to offset it.
For now, the stock remains near the lower end of its 52-week range. Google Finance listed a market value of about $19.3 million, a 52-week high of $3.78 and a 52-week low of $2.20.
