Tandy Leather Factory, the Fort Worth-based leather and leatherworking retailer with 101 stores in the US, Canada, and Spain, reported second-quarter 2025 revenues of $17.8 million, up 2.8% year on year.

Gross margin improved to 59.5%, but the company posted a net loss of $0.2 million, compared with a $0.1 million profit a year earlier.

Operating income was $0.1 million, with adjusted EBITDA at $0.3 million. Expenses rose 5.5% to $10.5 million, mainly from leasing its headquarters and distribution centre. Tandy ended the quarter with $16.4 million in cash from the sale of its headquarters.

The company expects sales momentum to continue into Q3 but anticipates tariff impacts and a full-year operating loss.

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