Tandy Leather Factory Q2 revenue rises, returns to profit
Tandy Leather Factory Q2 revenue rises, returns to profit
Overview
US specialty leather retailer's Q2 revenue rose 1.5% yr/yr
Net income turned positive in Q2 from a loss last year
Gross margin increased to 64.8%, driven by better product pricing
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
MULTICHANNEL SALES - Co said sales gains were seen across both retail and e-commerce channels
OPERATING EXPENSES - Higher compensation, investments in a new POS system, loyalty program launch, and increased occupancy costs raised operating expenses
Company press release: ID:nGNX5PXCfs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $18 mln |
|
Q2 Net Income |
| $400,000 |
|
Q2 Gross Profit |
| $11.70 mln |
|
Q2 Operating Income |
| $500,000 |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)