Tariff-wary Tandy mulls losses for 2025
US retailer Tandy Leather Factory has reported flat revenues for the first quarter of 2025, 1.2% down on the same period last year, at $19 million.
During the quarter, it completed the sale of its corporate headquarters building, which allowed the company to pay stockholders a dividend of $1.50 per share.
A move to a new headquarters in the third quarter of this year is still expected to lead to significantly increased costs and operating losses for full year 2025.
CEO Johan Hedberg said: “Already under way with moving-related efforts, we were pleased to still achieve first quarter sales and operating income that were somewhat ahead of our internal forecasts.
“We hope to continue that momentum through the second quarter and beyond, while noting that we have not yet felt the full impact of the coming tariffs on the US economy and our products, which are nearly all imported. If tariffs remain at the currently-announced levels, this will necessarily require us to increase our retail prices and likely lead to unavoidable declines in our sales and profits."
However, tariffs could change - the US and China yesterday announced a substantial lowering of their rates.
Tandy Leather Factory 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 North American stores, and one store located in Spain.
