Tandy Leather Factory (TLF) 10-Q 13 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	Mar. 11, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	TANDY LEATHER FACTORY INC
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		10,282,018
Amendment Flag	FALSE
Entity Central Index Key	909724
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash	$9,928,649	$10,636,530
Accounts receivable-trade, net of allowance for doubtful accounts of $370 and $395 in 2015 and 2014, respectively	664,149	625,054
Inventory	30,407,882	32,875,492
Prepaid income taxes		336,828
Deferred income taxes	302,571	371,491
Prepaid expenses	1,472,133	1,348,652
Other current assets	113,870	157,758
Total current assets	42,889,254	46,351,805
PROPERTY AND EQUIPMENT, at cost	22,724,155	22,199,943
Less accumulated depreciation and amortization	-7,312,549	-7,037,665
	15,411,606	15,162,278
GOODWILL	962,091	971,786
OTHER INTANGIBLES, net of accumulated amortization of approximately $674,000 and $665,000 in 2015 and 2014, respectively	46,748	58,026
OTHER assets	327,635	329,979
TOTAL ASSETS	59,637,334	62,873,874
CURRENT LIABILITIES:
Accounts payable-trade	1,742,070	1,255,218
Accrued expenses and other liabilities	4,297,326	5,394,514
Income taxes payable	86,575
Current maturities of long-term debt	202,500	3,702,500
Total current liabilities	6,328,471	10,352,232
DEFERRED INCOME TAXES	1,456,916	1,458,005
LONG-TERM DEBT, net of current maturities	1,890,000	1,940,625
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.10 par value; 20,000,000 shares authorized; none issued or outstanding; attributes to be determined on issuance	0	0
Common stock, $0.0024 par value; 25,000,000 shares authorized; 11,275,641 and 11,239,157 shares issued at 2015 and 2014, respectively; 10,282,018 and 10,245,534 shares outstanding at 2015 and 2014	27,072	26,984
Paid-in capital	6,052,221	6,013,325
Retained earnings	48,109,236	46,664,829
Treasury stock at cost (993,623 shares at 2015 and 2014)	-2,894,068	-2,894,068
Accumulated other comprehensive income	-1,332,514	-688,058
Total stockholders’ equity	49,961,947	49,123,012
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$59,637,334	$62,873,874

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Accounts receivable-trade, net allowance for doubtful accounts (in Dollars)	$370	$395
OTHER INTANGIBLES, net of accumulated amortization (in Dollars)	$674,000	$665,000
Preferred stock par value (in Dollars per share)	$0.10	$0.10
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	11,275,641	11,239,157
Common stock, shares outstanding	10,282,018	10,245,534
Treasury stock shares	993,623	993,623

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
NET SALES	$20,788,764	$19,838,466
COST OF SALES	8,205,836	7,122,743
Gross profit	12,582,928	12,715,723
OPERATING EXPENSES	10,194,047	9,749,060
INCOME FROM OPERATIONS	2,388,881	2,966,663
OTHER (INCOME) EXPENSE:
Interest expense	44,163	45,828
Other, net	-19,873	-1,344
Total other (income) expense	24,290	44,484
INCOME BEFORE INCOME TAXES	2,364,591	2,922,179
PROVISION FOR INCOME TAXES	920,184	1,067,767
NET INCOME	$1,444,407	$1,854,412
NET INCOME PER COMMON SHARE:
BASIC (in Dollars per share)	$0.14	$0.18
DILUTED (in Dollars per share)	$0.14	$0.18
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
BASIC (in Shares)	10,211,333	10,198,733
DILUTED (in Shares)	10,241,096	10,239,505

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
NET INCOME	$1,444,407	$1,854,412
Foreign currency translation adjustments, net of tax	-644,456	-129,408
COMPREHENSIVE INCOME	$799,951	$1,725,004

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$1,444,407	$1,854,412
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	383,936	346,555
Loss on disposal or abandonment of assets	5,804	3,600
Non-cash stock-based compensation	29,064
Deferred income taxes	67,831	-58,670
Foreign currency translation	-585,107	-124,726
Net changes in assets and liabilities:
Accounts receivable-trade, net	-39,095	-124,239
Inventory	2,467,610	-4,231,692
Prepaid expenses	-123,481	-30,478
Other current assets	43,888	318,050
Accounts payable-trade	486,852	843,414
Accrued expenses and other liabilities	-1,097,188	-578,676
Income taxes payable	423,403	332,579
Total adjustments	2,063,517	-3,304,283
Net cash provided by (used in) operating activities	3,507,924	-1,449,871
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	-677,444	-641,282
Decrease in other assets	2,344	9,014
Net cash used in investing activities	-675,100	-632,268
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in revolving credit loans	-3,500,000
Payments on notes payable and long-term debt	-50,625	-50,625
Proceeds from issuance of common stock	9,920
Net cash used in financing activities	-3,540,705	-50,625
NET DECREASE IN CASH	-707,881	-2,132,764
CASH, beginning of period	10,636,530	11,082,679
CASH, end of period	9,928,649	8,949,915
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	44,163	45,828
Income tax paid during the period, net of (refunds)	$379,690	$791,137

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
BALANCE at Dec. 31, 2013	$26,862	$5,892,907	($2,894,068)	$41,507,592	$88,249	$44,621,542
BALANCE (in Shares) at Dec. 31, 2013	10,198,733
Stock-based compensation	83	-83
Stock-based compensation (in Shares)	34,601
Net income				1,854,412		1,854,412
Translation adjustment					-129,408	-129,408
BALANCE at Mar. 31, 2014	26,945	5,892,824	-2,894,068	43,362,004	-41,159	46,346,546
BALANCE (in Shares) at Mar. 31, 2014	10,233,334
BALANCE at Dec. 31, 2014	26,984	6,013,325	-2,894,068	46,664,829	-688,058	49,123,012
BALANCE (in Shares) at Dec. 31, 2014	10,245,534
Shares issued – stock option exercise	5	9,915				9,920
Shares issued – stock option exercise (in Shares)	2,000					-2,000
Stock-based compensation	83	28,981				29,064
Stock-based compensation (in Shares)	34,484
Net income				1,444,407		1,444,407
Translation adjustment					-644,456	-644,456
BALANCE at Mar. 31, 2015	$27,072	$6,052,221	($2,894,068)	$48,109,236	($1,332,514)	$49,961,947
BALANCE (in Shares) at Mar. 31, 2015	10,282,018

Note_1_Basis_of_Presentation_a

Note 1 - Basis of Presentation and Certain Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	1	BASIS OF PRESENTATION AND CERTAIN SIGNIFICANT ACCOUNTING POLICIES
	In the opinion of management, the accompanying consolidated financial statements for Tandy Leather Factory, Inc. and its consolidated subsidiaries contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly its financial position as of March 31, 2015 and December 31, 2014, and its results of operations and cash flows for the three-month periods ended March 31, 2015 and 2014. Operating results for the three-month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014.
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Inventory. Inventory is stated at the lower of cost or market and is accounted for on the “first in, first out” method. Based on negotiations with vendors, title generally passes to us when merchandise is put on board. Merchandise to which we have title but have not yet received is recorded as inventory in transit. In addition, the value of inventory is periodically reduced for slow-moving or obsolete inventory based on management’s review of items on hand compared to their estimated future demand.
	The components of inventory consist of the following:
			As of
			31-Mar-15			31-Dec-14
	Inventory on hand:
	Finished goods held for sale		$	27,565,831		$	31,257,820
	Raw materials and work in process			1,023,870			1,118,506
	Inventory in transit			1,818,181			499,166
			$	30,407,882		$	32,875,492
	Goodwill and Other Intangibles. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Goodwill is required to be evaluated for impairment on an annual basis, absent indicators of impairment during the interim. Application of the goodwill impairment test requires exercise of judgment, including the estimation of future cash flows, determination of appropriate discount rates and other important assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment for each reporting unit.
	A two-step process is used to test for goodwill impairment. The first phase screens for impairment, while the second phase (if necessary) measures the impairment. We have elected to perform the annual analysis during the fourth calendar quarter of each year. As of December 31, 2014, management determined that the present value of the discounted estimated future cash flows of the stores associated with the goodwill is sufficient to support their respective goodwill balances. No indicators of impairment were identified during the first quarter of 2015.
	A summary of changes in our goodwill for the periods ended March 31, 2015 and 2014 is as follows:
			Leather Factory			Tandy Leather		Total
	Balance, December 31, 2013		$	598,579		$	383,406	$	981,985
	Acquisitions and adjustments			-			-		-
	Foreign exchange gain/loss			(4,634	)		-		(4,634	)
	Impairments			-			-		-
	Balance, March 31, 2014		$	593,945		$	383,406	$	977,351
			Leather Factory			Tandy Leather		Total
	Balance, December 31, 2014		$	588,380		$	383,406	$	971,786
	Acquisitions and adjustments			-			-		-
	Foreign exchange gain/loss			(9,695	)		-		(9,695	)
	Impairments			-			-		-
	Balance, March 31, 2015		$	578,685		$	383,406	$	962,091
	Other intangibles consist of the following:
			As of March 31, 2015								As of December 31, 2014
			Gross			Accumulated		Net			Gross		Accumulated		Net
						Amortization							Amortization
	Trademarks, Copyrights		$	544,369		$	526,038	$	18,331		$	544,369	$	518,426	$	25,943
	Non-Compete Agreements			176,664			148,247		28,417			178,882		146,799		32,083
			$	721,033		$	674,285	$	46,748		$	723,251	$	665,225	$	58,026
	We recorded amortization expense of $11,278 during the first quarter of 2015 compared to $11,368 during the first quarter of 2014. All of our intangible assets, other than goodwill, are subject to amortization under U.S. GAAP. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the succeeding 5 years is as follows:
			Wholesale			Retail		Total
			Leathercraft			Leathercraft
	2015		$	108		$	40,302	$	40,410
	2016			108			5,667		5,775
	2017			90			1,000		1,090
	2018			-			750		750
	2019			-			-		-
	Revenue Recognition. Our sales generally occur via two methods: (1) at the counter in our stores, and (2) shipment by common carrier. Sales at the counter are recorded and title passes as transactions occur. Otherwise, sales are recorded and title passes when the merchandise is shipped to the customer. Our shipping terms are FOB shipping point.
	We offer an unconditional satisfaction guarantee to our customers and accept all product returns. Net sales represent gross sales less negotiated price allowances, product returns, and allowances for defective merchandise.
	Comprehensive Income (loss) and Accumulated Other Comprehensive Income (loss). Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-stockholder sources and includes all changes in equity during a period except those resulting from investments by and dividends to stockholders. Our comprehensive income (loss) consists of our net income and foreign currency translation adjustments from our international operations.
	Recent Accounting Pronouncements.  In April 2014, FASB issued Accounting Standards Update 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. This guidance also changes an entity’s requirements when presenting, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation. A discontinued operation may include a component of an entity, or a business or nonprofit activity. The guidance is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of the new requirements did not have a material impact on our consolidated earnings, financial position or cash flows.
	In May 2014, FASB issued Accounting Standards Update 2014-09 which creates a new topic in the Accounting Standards Codification (“ASC”) Topic 606, “Revenue From Contracts With Customers.” In addition to superseding and replacing nearly all existing U.S. GAAP revenue recognition guidance, including industry-specific guidance, ASC 606 establishes a new control-based revenue recognition model; changes the basis for deciding when revenue is recognized over time or at a point in time; provides new and more detailed guidance on specific topics; and expands and improves disclosures about revenue. In addition, ASU 2014-09 adds a new Subtopic to the Codification, ASC 340-40, “Other Assets and Deferred Costs: Contracts with Customers,” to provide guidance on costs related to obtaining a contract with a customer and costs incurred in fulfilling a contract with a customer that are not in the scope of another ASC Topic. The guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Companies are permitted to apply the guidance in ASC 606 using one of the following two methods: retrospectively to each prior period presented in accordance with ASC 250, subject to certain practical expedients; or retrospectively with a cumulative effect adjustment to opening retained earnings in the period of initial adoption. If applying this transition method, an entity should apply the new revenue recognition guidance only to contracts not completed under existing U.S. GAAP at the date of adoption. We are currently evaluating the adoption method to apply and the impact that the update will have on our financial position, results of operations, cash flows and financial statement disclosures.

Note_2_Notes_Payable_and_Longt

Note 2 - Notes Payable and Long-term Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	2	NOTES PAYABLE AND LONG-TERM DEBT
	On July 31, 2007, we entered into a Credit Agreement and Line of Credit Note with JPMorgan Chase Bank, N.A., pursuant to which the bank agreed to provide us with a credit facility of up to $5,500,000 to facilitate our purchase of real estate consisting of a 191,000 square foot building situated on 30 acres of land located at 1900 SE Loop 820 in Fort Worth, Texas. Under the terms of the Line of Credit Note, we could borrow from time to time until April 30, 2008, up to the lesser of $5,500,000 or 90% of the cost of the property and make monthly payments. Proceeds in the amount of $4,050,000 were used to fund the purchase of the property from Standard Motor Products, Inc. under an Agreement of Purchase and Sale, dated June 25, 2007, which closed on July 31, 2007. No further borrowings were drawn. On April 30, 2008, the principal balance was rolled into a 10-year term note with an interest rate of 7.10% per annum.
	On July 12, 2012, we executed a Line of Credit Note with JPMorgan Chase Bank, N.A., pursuant to which the bank agreed to provide us with a revolving credit facility of up to $4 million. The revolver bears interest at LIBOR plus 2% (2.27% at March 31, 2015) and was to mature on June 30, 2013. On June 25, 2013, we executed a Note Modification Agreement which extended the maturity date of the Line of Credit Note to June 30, 2014. On June 23, 2014, we executed a Note Modification Agreement which increased the maximum amount available from $4 million to $6 million and extended the maturity date from June 30, 2014 to June 30, 2015. All other terms remain unchanged. Interest is paid monthly. The note was obtained for working capital purposes and is secured by the real estate and improvements located at 1900 Southeast Loop 820, Fort Worth, Texas. No amounts were outstanding under this Line of Credit Note as of March 31, 2015.
	At March 31, 2015 and December 31, 2014, the amount outstanding under the above agreement consisted of the following:
			March 31,			December 31,
			2015			2014
	Credit Agreement with JPMorgan Chase Bank – collateralized by real estate; payable as follows:
	Line of Credit Note dated July 31, 2007, converted to a 10-year term note on April 30, 2008; $16,875 monthly principal payments plus interest at 7.1% per annum; matures April 30, 2018		$	2,092,500		$	2,143,125
	Line of Credit Note with JPMorgan Chase Bank – collateralized by real estate, payable as follows:
	Line of Credit Note dated July 12, 2012, as amended on June 25, 2013 and June 23, 2014, in the maximum principal amount of $6,000,000 with revolving features as more fully described above – interest due monthly at LIBOR plus 2%, matures June 30, 2015			-			3,500,000
				2,092,500			5,643,125
	Less - Current maturities			(202,500	)		(3,702,500	)
			$	1,890,000		$	1,940,625

Note_3_Stockbased_Compensation

Note 3 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	3	STOCK-BASED COMPENSATION
	We have one stock option plan which permits annual stock option grants to non-employee directors with an exercise price equal to the fair market value of the shares at the date of grant. Options outstanding and exercisable were granted at a stock option price which was not less than the fair market value of our common stock on the date the option was granted and no option has a term in excess of ten years. Under this plan, no options were awarded to directors during the quarters ended March 31, 2015 and 2014 and therefore, no share based compensation expense was recorded for the quarters ended March 31, 2015 and 2014, respectively. During the three months ended March 31, 2015 and 2014, the stock option activity under our stock option plans was as follows:
		Weighted Average Exercise			#			Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
		Price			of
					shares
	Outstanding, January 1, 2014	$	5.04			84,600
	Granted		-			-
	Cancelled		-			-
	Exercised		-			-
	Outstanding, March 31, 2014	$	5.04			84,600			6.72	$	104,656
	Exercisable, March 31, 2014	$	5.04			84,600			6.72	$	104,656
	Outstanding, January 1, 2015	$	5.16			72,400
	Granted		-			-
	Cancelled		-			-
	Exercised		(4.96	)		(2,000	)
	Outstanding, March 31, 2015	$	5.17			70,400			6.07	$	86,886
	Exercisable, March 31, 2015	$	5.17			70,400			6.07	$	86,886
	Other information pertaining to option activity during the three-month periods ended March 31, 2015 and 2014 are as follows:
			31-Mar-15				31-Mar-14
	Weighted average grant-date fair value of stock options granted			N/A				N/A
	Total fair value of stock options vested			N/A				N/A
	Total intrinsic value of stock options exercised			$2,953				N/A
	As of March 31, 2015 and 2014, there was no unrecognized compensation cost related to non-vested stock options.
	We have a restricted stock plan that was adopted by our Board of Directors in January 2013 and approved by our stockholders in June 2013. The plan reserves up to 300,000 shares of our common stock for restricted stock awards to our executive officers, non-employee directors and other key employees. Awards granted under the plan may be stock awards or performance awards, and may be subject to a graded vesting schedule with a minimum vesting period of four years, unless otherwise determined by the committee that administers the plan.
	In February 2014, our Chief Executive Officer, Chief Financial Officer and Senior Vice President were awarded restricted stock grants consisting of 9,375 shares each. In addition, four of our independent directors were awarded restricted stock grants consisting of 1,619 shares each. The grants will vest in equal annual amounts over a four-year period. The fair value of non-vested restricted common stock awards is the market value of our common stock on the date of grant. Compensation costs for these awards will be recognized on a straight-line basis over the four year vesting period.
	In February 2015, our Chief Executive Officer, Chief Financial Officer and Senior Vice President were awarded restricted stock grants consisting of 9,343 shares each. In addition, four of our independent directors were awarded restricted stock grants consisting of 1,613 shares each. The grants will vest in equal annual amounts over a four-year period. The fair value of non-vested restricted common stock awards is the market value of our common stock on the date of grant. Compensation costs for these awards will be recognized on a straight-line basis over the four year vesting period.
	A summary of the activity for non-vested restricted common stock awards as of March 31, 2015 and 2014 is presented below:
		Shares			Award
					Fair Value
	Balance, January 1, 2014		-			-
	Granted		34,601		$	8.96
	Forfeited		-			-
	Vested		-			-
	Unvested Balance, March 31, 2014		34,601		$	8.96
	Balance, January 1, 2015		34,601		$	8.96
	Granted		34,484		$	8.99
	Forfeited
	Vested		(8,652	)	$	8.96
	Unvested Balance, March 31, 2015		60,433		$	8.97
	Total unrecognized compensation expense for the non-vested restricted stock awards as of March 31, 2015 and 2014 totals $523,154 and $310,025, respectively, and is expected to be recognized in equal annual amounts over a period of four years as follows:
			2015 Award				2014 Award			Total
	2015		$	58,127			$	58,130		$	116,257
	2016		$	77,503			$	77,506		$	155,009
	2017		$	77,503			$	77,506		$	155,009
	2018		$	77,503			$	9,688		$	87,191
	2019		$	9,688				-		$	9,688
			$	300,324			$	222,830		$	523,154

Note_4_Earnings_Per_Share

Note 4 - Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	4	EARNINGS PER SHARE
	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2015 and 2014:
			2015		2014
	Net income		$	1,444,407	$	1,854,412
	Numerator for basic and diluted earnings per share		$	1,444,407	$	1,854,412
	Denominator for basic earnings per share – weighted-average shares			10,211,333		10,198,733
	Effect of dilutive securities:
		Stock options		29,763		39,193
		Restricted stock		-		1,579
	Dilutive potential common shares			29,763		40,772
	Denominator for diluted earnings per share – weighted-average shares			10,241,096		10,239,505
		Basic earnings per share	$	0.14	$	0.18
		Diluted earnings per share	$	0.14	$	0.18
	The net effect of assuming the exercise of all potentially dilutive common share equivalents, including stock options to purchase common stock at exercise prices less than the average market prices and restricted stock awards of an aggregate of 130,833 and 119,201 shares of common stock have been included in the computations of diluted EPS for the quarters ended March 31, 2015 and 2014, respectively.

Note_5_Commitments_and_Conting

Note 5 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	5	COMMITMENTS AND CONTINGENCIES
	Legal Proceedings. On March 16, 2011, two former employees of ours filed a lawsuit, entitled Mark Barnes and Jerry Mercante on behalf of themselves and all other similarly situated v. Tandy Leather Company, Inc., Tandy Leather Factory, and Does 1-50, in the US District Court for the District of Nevada. The lawsuit was subsequently transferred to the United States District Court, Northern District of Texas, Fort Worth Division (“Court”), and an amended complaint was filed on May 9, 2011 by plaintiffs to add another former employee, Donna Cavota, as a third named plaintiff. The suit alleged that we violated requirements of the Fair Labor Standards Act (FLSA) as well as various state wage laws. Plaintiffs sought to represent themselves and all similarly situated U.S. current and former store managers of ours. A Settlement Agreement was reached between the parties, and on September 24, 2012, the Court issued an Order Preliminarily Approving the Settlement of all federal and state claims asserted by the plaintiffs in the litigation. We continue to deny any violation of any statute, law, rule or regulation, any liability or wrongdoing, and the truth of plaintiffs’ allegations. We agreed to enter into the Settlement Agreement to avoid further expense and inconvenience, end the disruption and burden of the litigation, avoid any other present or future litigation arising out of the facts that gave rise to the litigation, avoid the risk inherent in uncertain complex litigation, and to put to rest the controversy underlying the litigation.
	The Settlement Agreement preliminarily approved by the Court required us to establish a fund designated as a Qualified Settlement Fund (Escrow Account) in the amount of $993,386 to fund (1) settlement payments to the plaintiffs, (2) settlement payments to the other members of the settlement class who joined the case, (3) plaintiffs’ attorneys’ fees and expenses, and (4) and the claim administrator (Escrow Agent’s) fees and expenses.   The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Settlement Agreement which was attached as Exhibit 10.1 to a Current Report on Form 8-K, as filed with the Securities and Exchange Commission on October 1, 2012.
	The deadline established by the Court for any persons employed by us as store managers between November 23, 2008 and September 24, 2012 to join the lawsuit as class members expired on May 24, 2013. On June 28, 2013, the Court issued two orders: (1) an Order Approving Class and Collective Action Settlement and Dismissing Case with Prejudice, and (2) a Final Judgment, Approving Class and Collective Action Settlement and Dismissing Case with Prejudice. Pursuant to the Court’s June 28, 2013 orders, the claims administrator (Escrow Agent) was required to make payments to the plaintiffs and those existing and former store managers who joined the lawsuit by signing and returning Consent to Join Forms, which contained a release of us from the claims asserted in plaintiffs’ lawsuit.
	The settlement payments to the class members and the plaintiffs were made from the Escrow Account pursuant to the formula set forth in the Settlement Agreement by the claims administrator, as well as the payment of the plaintiffs’ attorney’s fees and the fees and expenses of the claims administrator (Escrow Agent). The total payment from the Escrow Account, including our required FICA payments based on the settlement payments, was $744,273 from the total Escrow Account of $993,386. All payments were made by the claims administrator and the balance of the Escrow Account (approximately $249,000) was returned to us in the first quarter of 2014.
	We are periodically involved in other litigation that arises in the ordinary course of business and operations. There are no such matters pending that we expect to have a material impact on our financial position and operating results. Legal costs associated with the resolution of claims, lawsuits and other contingencies are expensed as incurred.

Note_6_Segment_Information

Note 6 - Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	6. SEGMENT INFORMATION
	We identify our segments based on the activities of three distinct operations:
		a.	Wholesale Leathercraft, which consists of a chain of wholesale stores operating under the name, The Leather Factory, located in North America;
		b.	Retail Leathercraft, which consists of a chain of retail stores operating under the name, Tandy Leather Company, located in North America; and
		c.	International Leathercraft, which sells to both wholesale and retail customers. We have three stores operating in this segment: one in Northampton, United Kingdom, one in Sydney, Australia, and one in Jerez, Spain. These stores carry the same products as our North American stores.
	Our reportable operating segments have been determined as separately identifiable business units, and we measure segment earnings as operating earnings, defined as income before interest and income taxes.
			Wholesale Leathercraft			Retail		Int’l			Total
						Leathercraft		Leathercraft
	For the quarter ended March 31, 2015
	Net sales		$	6,725,304		$	13,109,413	$	954,047		$	20,788,764
	Gross profit			4,169,635			7,845,766		567,527			12,582,928
	Income from operations			951,855			1,403,452		33,574			2,388,881
	Interest expense			44,163			-		-			44,163
	Other, net			(11,393	)		-		(8,480	)		(19,873	)
	Income before income taxes			919,085			1,403,452		42,054			2,364,591
	Depreciation and amortization			239,718			132,862		11,356			383,936
	Fixed asset additions			419,906			257,538		-			677,444
	Total assets		$	39,891,481		$	16,388,517	$	3,357,336		$	59,637,334
	For the quarter ended March 31, 2014
	Net sales		$	6,823,968		$	11,956,354	$	1,058,144		$	19,838,466
	Gross profit			4,530,209			7,498,416		687,098			12,715,723
	Income from operations			1,372,637			1,472,703		121,323			2,966,663
	Interest expense			45,828			-		-			45,828
	Other, net			(9,776	)		-		8,432			(1,344	)
	Income before income taxes			1,336,585			1,472,703		112,891			2,922,179
	Depreciation and amortization			225,855			104,441		16,259			346,555
	Fixed asset additions			236,211			356,198		48,873			641,282
	Total assets		$	41,806,750		$	13,903,814	$	2,919,417		$	58,629,981
	Net sales for geographic areas were as follows for the three months ended March 31, 2015 and 2014:
			2015			2014
	United States		$	17,748,632		$	16,645,886
	Canada			1,899,118			1,913,512
	All other countries			1,141,014			1,279,068
			$	20,788,764		$	19,838,466
	Geographic sales information is based on the location of the customer. No single foreign country, except for Canada, accounted for any material amount of our consolidated net sales for the three-month periods ended March 31, 2015 and 2014. We do not have any significant long-lived assets outside of the United States.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Inventory, Policy [Policy Text Block]	Inventory. Inventory is stated at the lower of cost or market and is accounted for on the “first in, first out” method. Based on negotiations with vendors, title generally passes to us when merchandise is put on board. Merchandise to which we have title but have not yet received is recorded as inventory in transit. In addition, the value of inventory is periodically reduced for slow-moving or obsolete inventory based on management’s review of items on hand compared to their estimated future demand.
	The components of inventory consist of the following:
		As of
		31-Mar-15			31-Dec-14
	Inventory on hand:
	Finished goods held for sale	$	27,565,831		$	31,257,820
	Raw materials and work in process		1,023,870			1,118,506
	Inventory in transit		1,818,181			499,166
		$	30,407,882		$	32,875,492
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Other Intangibles. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Goodwill is required to be evaluated for impairment on an annual basis, absent indicators of impairment during the interim. Application of the goodwill impairment test requires exercise of judgment, including the estimation of future cash flows, determination of appropriate discount rates and other important assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment for each reporting unit.
	A two-step process is used to test for goodwill impairment. The first phase screens for impairment, while the second phase (if necessary) measures the impairment. We have elected to perform the annual analysis during the fourth calendar quarter of each year. As of December 31, 2014, management determined that the present value of the discounted estimated future cash flows of the stores associated with the goodwill is sufficient to support their respective goodwill balances. No indicators of impairment were identified during the first quarter of 2015.
	A summary of changes in our goodwill for the periods ended March 31, 2015 and 2014 is as follows:
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2013	$	598,579		$	383,406	$	981,985
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(4,634	)		-		(4,634	)
	Impairments		-			-		-
	Balance, March 31, 2014	$	593,945		$	383,406	$	977,351
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2014	$	588,380		$	383,406	$	971,786
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(9,695	)		-		(9,695	)
	Impairments		-			-		-
	Balance, March 31, 2015	$	578,685		$	383,406	$	962,091
	Other intangibles consist of the following:
		As of March 31, 2015								As of December 31, 2014
		Gross			Accumulated		Net			Gross		Accumulated		Net
					Amortization							Amortization
	Trademarks, Copyrights	$	544,369		$	526,038	$	18,331		$	544,369	$	518,426	$	25,943
	Non-Compete Agreements		176,664			148,247		28,417			178,882		146,799		32,083
		$	721,033		$	674,285	$	46,748		$	723,251	$	665,225	$	58,026
	We recorded amortization expense of $11,278 during the first quarter of 2015 compared to $11,368 during the first quarter of 2014. All of our intangible assets, other than goodwill, are subject to amortization under U.S. GAAP. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the succeeding 5 years is as follows:
		Wholesale			Retail		Total
		Leathercraft			Leathercraft
	2015	$	108		$	40,302	$	40,410
	2016		108			5,667		5,775
	2017		90			1,000		1,090
	2018		-			750		750
	2019		-			-		-
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition. Our sales generally occur via two methods: (1) at the counter in our stores, and (2) shipment by common carrier. Sales at the counter are recorded and title passes as transactions occur. Otherwise, sales are recorded and title passes when the merchandise is shipped to the customer. Our shipping terms are FOB shipping point.
	We offer an unconditional satisfaction guarantee to our customers and accept all product returns. Net sales represent gross sales less negotiated price allowances, product returns, and allowances for defective merchandise.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (loss) and Accumulated Other Comprehensive Income (loss). Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-stockholder sources and includes all changes in equity during a period except those resulting from investments by and dividends to stockholders. Our comprehensive income (loss) consists of our net income and foreign currency translation adjustments from our international operations.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements.  In April 2014, FASB issued Accounting Standards Update 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. This guidance also changes an entity’s requirements when presenting, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation. A discontinued operation may include a component of an entity, or a business or nonprofit activity. The guidance is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of the new requirements did not have a material impact on our consolidated earnings, financial position or cash flows.
	In May 2014, FASB issued Accounting Standards Update 2014-09 which creates a new topic in the Accounting Standards Codification (“ASC”) Topic 606, “Revenue From Contracts With Customers.” In addition to superseding and replacing nearly all existing U.S. GAAP revenue recognition guidance, including industry-specific guidance, ASC 606 establishes a new control-based revenue recognition model; changes the basis for deciding when revenue is recognized over time or at a point in time; provides new and more detailed guidance on specific topics; and expands and improves disclosures about revenue. In addition, ASU 2014-09 adds a new Subtopic to the Codification, ASC 340-40, “Other Assets and Deferred Costs: Contracts with Customers,” to provide guidance on costs related to obtaining a contract with a customer and costs incurred in fulfilling a contract with a customer that are not in the scope of another ASC Topic. The guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Companies are permitted to apply the guidance in ASC 606 using one of the following two methods: retrospectively to each prior period presented in accordance with ASC 250, subject to certain practical expedients; or retrospectively with a cumulative effect adjustment to opening retained earnings in the period of initial adoption. If applying this transition method, an entity should apply the new revenue recognition guidance only to contracts not completed under existing U.S. GAAP at the date of adoption. We are currently evaluating the adoption method to apply and the impact that the update will have on our financial position, results of operations, cash flows and financial statement disclosures.

Note_1_Basis_of_Presentation_a1

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Inventory, Current [Table Text Block]		As of
		31-Mar-15			31-Dec-14
	Inventory on hand:
	Finished goods held for sale	$	27,565,831		$	31,257,820
	Raw materials and work in process		1,023,870			1,118,506
	Inventory in transit		1,818,181			499,166
		$	30,407,882		$	32,875,492
Schedule of Goodwill [Table Text Block]		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2013	$	598,579		$	383,406	$	981,985
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(4,634	)		-		(4,634	)
	Impairments		-			-		-
	Balance, March 31, 2014	$	593,945		$	383,406	$	977,351
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2014	$	588,380		$	383,406	$	971,786
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(9,695	)		-		(9,695	)
	Impairments		-			-		-
	Balance, March 31, 2015	$	578,685		$	383,406	$	962,091
Schedule of Finite-Lived Intangible Assets [Table Text Block]		As of March 31, 2015								As of December 31, 2014
		Gross			Accumulated		Net			Gross		Accumulated		Net
					Amortization							Amortization
	Trademarks, Copyrights	$	544,369		$	526,038	$	18,331		$	544,369	$	518,426	$	25,943
	Non-Compete Agreements		176,664			148,247		28,417			178,882		146,799		32,083
		$	721,033		$	674,285	$	46,748		$	723,251	$	665,225	$	58,026
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]		Wholesale			Retail		Total
		Leathercraft			Leathercraft
	2015	$	108		$	40,302	$	40,410
	2016		108			5,667		5,775
	2017		90			1,000		1,090
	2018		-			750		750
	2019		-			-		-

Note_2_Notes_Payable_and_Longt1

Note 2 - Notes Payable and Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]		March 31,			December 31,
		2015			2014
	Credit Agreement with JPMorgan Chase Bank – collateralized by real estate; payable as follows:
	Line of Credit Note dated July 31, 2007, converted to a 10-year term note on April 30, 2008; $16,875 monthly principal payments plus interest at 7.1% per annum; matures April 30, 2018	$	2,092,500		$	2,143,125
	Line of Credit Note with JPMorgan Chase Bank – collateralized by real estate, payable as follows:
	Line of Credit Note dated July 12, 2012, as amended on June 25, 2013 and June 23, 2014, in the maximum principal amount of $6,000,000 with revolving features as more fully described above – interest due monthly at LIBOR plus 2%, matures June 30, 2015		-			3,500,000
			2,092,500			5,643,125
	Less - Current maturities		(202,500	)		(3,702,500	)
		$	1,890,000		$	1,940,625

Note_3_Stockbased_Compensation1

Note 3 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]		Weighted Average Exercise			#			Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
		Price			of
					shares
	Outstanding, January 1, 2014	$	5.04			84,600
	Granted		-			-
	Cancelled		-			-
	Exercised		-			-
	Outstanding, March 31, 2014	$	5.04			84,600			6.72	$	104,656
	Exercisable, March 31, 2014	$	5.04			84,600			6.72	$	104,656
	Outstanding, January 1, 2015	$	5.16			72,400
	Granted		-			-
	Cancelled		-			-
	Exercised		(4.96	)		(2,000	)
	Outstanding, March 31, 2015	$	5.17			70,400			6.07	$	86,886
	Exercisable, March 31, 2015	$	5.17			70,400			6.07	$	86,886
Schedule of Share-based Compensation, Activity [Table Text Block]			31-Mar-15				31-Mar-14
	Weighted average grant-date fair value of stock options granted			N/A				N/A
	Total fair value of stock options vested			N/A				N/A
	Total intrinsic value of stock options exercised			$2,953				N/A
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]		Shares			Award
					Fair Value
	Balance, January 1, 2014		-			-
	Granted		34,601		$	8.96
	Forfeited		-			-
	Vested		-			-
	Unvested Balance, March 31, 2014		34,601		$	8.96
	Balance, January 1, 2015		34,601		$	8.96
	Granted		34,484		$	8.99
	Forfeited
	Vested		(8,652	)	$	8.96
	Unvested Balance, March 31, 2015		60,433		$	8.97
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]			2015 Award				2014 Award			Total
	2015		$	58,127			$	58,130		$	116,257
	2016		$	77,503			$	77,506		$	155,009
	2017		$	77,503			$	77,506		$	155,009
	2018		$	77,503			$	9,688		$	87,191
	2019		$	9,688				-		$	9,688
			$	300,324			$	222,830		$	523,154

Note_4_Earnings_Per_Share_Tabl

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]			2015		2014
	Net income		$	1,444,407	$	1,854,412
	Numerator for basic and diluted earnings per share		$	1,444,407	$	1,854,412
	Denominator for basic earnings per share – weighted-average shares			10,211,333		10,198,733
	Effect of dilutive securities:
		Stock options		29,763		39,193
		Restricted stock		-		1,579
	Dilutive potential common shares			29,763		40,772
	Denominator for diluted earnings per share – weighted-average shares			10,241,096		10,239,505
		Basic earnings per share	$	0.14	$	0.18
		Diluted earnings per share	$	0.14	$	0.18

Note_6_Segment_Information_Tab

Note 6 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]		Wholesale Leathercraft			Retail		Int’l			Total
					Leathercraft		Leathercraft
	For the quarter ended March 31, 2015
	Net sales	$	6,725,304		$	13,109,413	$	954,047		$	20,788,764
	Gross profit		4,169,635			7,845,766		567,527			12,582,928
	Income from operations		951,855			1,403,452		33,574			2,388,881
	Interest expense		44,163			-		-			44,163
	Other, net		(11,393	)		-		(8,480	)		(19,873	)
	Income before income taxes		919,085			1,403,452		42,054			2,364,591
	Depreciation and amortization		239,718			132,862		11,356			383,936
	Fixed asset additions		419,906			257,538		-			677,444
	Total assets	$	39,891,481		$	16,388,517	$	3,357,336		$	59,637,334
	For the quarter ended March 31, 2014
	Net sales	$	6,823,968		$	11,956,354	$	1,058,144		$	19,838,466
	Gross profit		4,530,209			7,498,416		687,098			12,715,723
	Income from operations		1,372,637			1,472,703		121,323			2,966,663
	Interest expense		45,828			-		-			45,828
	Other, net		(9,776	)		-		8,432			(1,344	)
	Income before income taxes		1,336,585			1,472,703		112,891			2,922,179
	Depreciation and amortization		225,855			104,441		16,259			346,555
	Fixed asset additions		236,211			356,198		48,873			641,282
	Total assets	$	41,806,750		$	13,903,814	$	2,919,417		$	58,629,981
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]		2015			2014
	United States	$	17,748,632		$	16,645,886
	Canada		1,899,118			1,913,512
	All other countries		1,141,014			1,279,068
		$	20,788,764		$	19,838,466

Note_1_Basis_of_Presentation_a2

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Disclosure Text Block [Abstract]
Amortization of Intangible Assets	$11,278	$11,368
Finite-Lived Intangible Asset, Useful Life	5 years

Note_1_Basis_of_Presentation_a3

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Components of Inventory (USD $)	Mar. 31, 2015	Dec. 31, 2014
Inventory on hand:
Finished goods held for sale	$27,565,831	$31,257,820
Raw materials and work in process	1,023,870	1,118,506
Inventory in transit	1,818,181	499,166
	$30,407,882	$32,875,492

Note_1_Basis_of_Presentation_a4

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Summary of Changes in Goodwill (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Line Items]
Balance	$971,786	$981,985
Foreign exchange gain/loss	-9,695	-4,634
Balance	962,091	977,351
Leather Factory [Member]
Goodwill [Line Items]
Balance	588,380	598,579
Foreign exchange gain/loss	-9,695	-4,634
Balance	578,685	593,945
Tandy Leather [Member]
Goodwill [Line Items]
Balance			383,406	383,406
Balance	$383,406	$383,406	$383,406	$383,406

Note_1_Basis_of_Presentation_a5

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Intangible Assets (USD $)	Mar. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross	$721,033	$723,251
Accumulated Amortization	674,000	665,000
Net	46,748	58,026
Trademarks and Copyrights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	544,369	544,369
Accumulated Amortization	526,038	518,426
Net	18,331	25,943
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	176,664	178,882
Accumulated Amortization	148,247	146,799
Net	$28,417	$32,083

Note_1_Basis_of_Presentation_a6

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated Amortization Expense (USD $)	Mar. 31, 2015
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated Amortization Expense [Line Items]
2015	$40,410
2016	5,775
2017	1,090
2018	750
2019	0
Wholesale Leathercraft [Member]
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated Amortization Expense [Line Items]
2015	108
2016	108
2017	90
2018	0
2019	0
Retail Leathercraft [Member]
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated Amortization Expense [Line Items]
2015	40,302
2016	5,667
2017	1,000
2018	750
2019	$0

Note_2_Notes_Payable_and_Longt2

Note 2 - Notes Payable and Long-term Debt (Details) (USD $)	0 Months Ended	3 Months Ended	0 Months Ended	1 Months Ended
	Jul. 12, 2012	Mar. 31, 2015	Apr. 30, 2008	Jul. 31, 2007	Jun. 23, 2014
Building [Member] | Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Area of Real Estate Property				191,000
Land [Member] | Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Area of Real Estate Property				30
Minimum [Member] | Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					$4,000,000
Maximum [Member] | Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					6,000,000
London Interbank Offered Rate (LIBOR) [Member] | Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.00%	2.27%
Term Note [Member] | Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Debt Instrument, Term			10 years
Debt Instrument, Interest Rate, Stated Percentage			7.10%
Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				5,500,000
Line of Credit Facility Maximum Borrowing Capacity Percentage of Property				90.00%
Proceeds from Bank Debt				4,050,000
Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	4,000,000
Long-term Line of Credit		0

Note_2_Notes_Payable_and_Longt3

Note 2 - Notes Payable and Long-term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (USD $)	Mar. 31, 2015	Dec. 31, 2014
Credit Agreement with JPMorgan Chase Bank b collateralized by real estate; payable as follows:
	$2,092,500	$5,643,125
Less - Current maturities	-202,500	-3,702,500
	1,890,000	1,940,625
Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Credit Agreement with JPMorgan Chase Bank b collateralized by real estate; payable as follows:
Line of credit note	2,092,500	2,143,125
Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Credit Agreement with JPMorgan Chase Bank b collateralized by real estate; payable as follows:
Line of credit note		$3,500,000

Note_2_Notes_Payable_and_Longt4

Note 2 - Notes Payable and Long-term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (Parentheticals) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
London Interbank Offered Rate (LIBOR) [Member] | Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (Parentheticals) [Line Items]
Line of Credit Note, Interest at LIBOR	2.00%
Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
Note 2 - Notes Payable and Long-term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (Parentheticals) [Line Items]
Line of Credit Note term	10 years	10 years
Line of Credit Note monthly principal payments	$16,875	$16,875
Line of Credit Note interest	7.10%	7.10%
Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
Note 2 - Notes Payable and Long-term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (Parentheticals) [Line Items]
Line of Credit Note, Principal Amount	$6,000,000

Note_3_Stockbased_Compensation2

Note 3 - Stock-based Compensation (Details) (USD $)	1 Months Ended		3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Mar. 31, 2015	Mar. 31, 2014
Note 3 - Stock-based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars)			0	$0
Restricted Stock [Member] | Restricted Stock Plan [Member] | Executive Officers, Non-employee Directors and Other Key Employees [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			300,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years	4 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	4 years	4 years
Restricted Stock [Member] | Restricted Stock Plan [Member] | Chief Executive Officer [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	9,343	9,375
Restricted Stock [Member] | Restricted Stock Plan [Member] | Chief Financial Officer [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	9,343	9,375
Restricted Stock [Member] | Restricted Stock Plan [Member] | Senior Vice President [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	9,343	9,375
Restricted Stock [Member] | Restricted Stock Plan [Member] | Independent Director 1 [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,613	1,619
Restricted Stock [Member] | Restricted Stock Plan [Member] | Independent Director 2 [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,613	1,619
Restricted Stock [Member] | Restricted Stock Plan [Member] | Independent Director 3 [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,613	1,619
Restricted Stock [Member] | Restricted Stock Plan [Member] | Independent Director 4 [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,613	1,619
Restricted Stock [Member] | Restricted Stock Plan [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Restricted Stock [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars)			523,154	310,025
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			34,484	34,601
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			4 years
2007 Director Non-Qualified Stock Option Plan [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Director [Member]
Note 3 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	0
Allocated Share-based Compensation Expense (in Dollars)			0	$0

Note_3_Stockbased_Compensation3

Note 3 - Stock-based Compensation (Details) - Summary of Stock Option Activity (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Summary of Stock Option Activity [Abstract]
Weighted Average Exercise Price	$5.17	$5.04	$5.16	$5.04
# of shares	70,400	84,600	72,400	84,600
Weighted Average Remaining Contractual Term (in years)	6 years 25 days	6 years 262 days
Aggregate Instrinsic Value	$86,886	$104,656
Weighted Average Exercise Price	$5.17	$5.04
# of shares	70,400	84,600
Weighted Average Remaining Contractual Term (in years)	6 years 25 days	6 years 262 days
Aggregate Instrinsic Value	$86,886	$104,656
Weighted Average Exercise Price	($4.96)
# of shares	-2,000

Note_3_Stockbased_Compensation4

Note 3 - Stock-based Compensation (Details) - Other Information Pertaining to Option Activity (USD $)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Other Information Pertaining to Option Activity [Abstract]
Weighted average grant-date fair value of stock options granted (in Dollars per share)
Total fair value of stock options vested
Total intrinsic value of stock options exercised	$2,953

Note_3_Stockbased_Compensation5

Note 3 - Stock-based Compensation (Details) - Activity for Nonvested Restricted Common Stock Awards (Restricted Stock [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock [Member]
Note 3 - Stock-based Compensation (Details) - Activity for Nonvested Restricted Common Stock Awards [Line Items]
Shares	60,433	34,601	34,601	0
Award Fair Value	$8.97	$8.96	$8.96	$0
Shares	34,484	34,601
Award Fair Value	$8.99	$8.96
Forfeited		0
Forfeited		$0
Shares	-8,652	0
Award Fair Value	$8.96	$0

Note_3_Stockbased_Compensation6

Note 3 - Stock-based Compensation (Details) - Unrecognized Compensation Expense for Non-vested Restricted Stock Awards (USD $)	Mar. 31, 2015	Mar. 31, 2014
Note 3 - Stock-based Compensation (Details) - Unrecognized Compensation Expense for Non-vested Restricted Stock Awards [Line Items]
	$0	$0
2015 [Member] | Restricted Stock [Member]
Note 3 - Stock-based Compensation (Details) - Unrecognized Compensation Expense for Non-vested Restricted Stock Awards [Line Items]
2015	58,127
2016	77,503
2017	77,503
2018	77,503
2019	9,688
	300,324
2014 [Member] | Restricted Stock [Member]
Note 3 - Stock-based Compensation (Details) - Unrecognized Compensation Expense for Non-vested Restricted Stock Awards [Line Items]
2015	58,130
2016	77,506
2017	77,506
2018	9,688
	222,830
Restricted Stock [Member]
Note 3 - Stock-based Compensation (Details) - Unrecognized Compensation Expense for Non-vested Restricted Stock Awards [Line Items]
2015	116,257
2016	155,009
2017	155,009
2018	87,191
2019	9,688
	$523,154	$310,025

Note_4_Earnings_Per_Share_Deta

Note 4 - Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Weighted Average Number Diluted Shares Outstanding Adjustment	130,833	119,201

Note_4_Earnings_Per_Share_Deta1

Note 4 - Earnings Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Note 4 - Earnings Per Share (Details) - Computation of Basic and Diluted Earnings Per Share [Line Items]
Net income (in Dollars)	$1,444,407	$1,854,412
Numerator for basic and diluted earnings per share (in Dollars)	$1,444,407	$1,854,412
Denominator for basic earnings per share b weighted-average shares	10,211,333	10,198,733
Effect of dilutive securities:
Dilutive securities	29,763	40,772
Denominator for diluted earnings per share b weighted-average shares	10,241,096	10,239,505
Basic earnings per share (in Dollars per share)	$0.14	$0.18
Diluted earnings per share (in Dollars per share)	$0.14	$0.18
Employee Stock Option [Member]
Effect of dilutive securities:
Dilutive securities	29,763	39,193
Restricted Stock [Member]
Effect of dilutive securities:
Dilutive securities		1,579

Note_5_Commitments_and_Conting1

Note 5 - Commitments and Contingencies (Details) (USD $)	0 Months Ended	3 Months Ended
	Sep. 24, 2012	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Litigation Settlement, Amount	$993,386
Payments for Legal Settlements		744,273
Loss Contingency, Escrow Deposit		993,386
Loss Contingency, Escrow Account Balance		$249,000

Note_6_Segment_Information_Det

Note 6 - Segment Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Note 6 - Segment Information (Details) [Line Items]
Number of Operating Segments	3
Revenue, Net (in Dollars)	$20,788,764	$19,838,466
Property, Plant and Equipment, Net (in Dollars)	15,411,606		15,162,278
International Leathercraft [Member]
Note 6 - Segment Information (Details) [Line Items]
Number of Stores	3
Revenue, Net (in Dollars)	954,047	1,058,144
Geographic Concentration Risk [Member] | Foreign Countries [Member]
Note 6 - Segment Information (Details) [Line Items]
Revenue, Net (in Dollars)	0	0
Property, Plant and Equipment, Net (in Dollars)	$0		$0
Northampton United Kingdom [Member]
Note 6 - Segment Information (Details) [Line Items]
Number of Stores	1
Sydney Australia [Member]
Note 6 - Segment Information (Details) [Line Items]
Number of Stores	1
Jerez Spain [Member]
Note 6 - Segment Information (Details) [Line Items]
Number of Stores	1

Note_6_Segment_Information_Det1

Note 6 - Segment Information (Details) - Summary of Reportable Operating Segments (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$20,788,764	$19,838,466
Gross profit	12,582,928	12,715,723
Operating earnings	2,388,881	2,966,663
Interest expense	44,163	45,828
Other income (expense), net	-19,873	-1,344
Income before income taxes	2,364,591	2,922,179
Depreciation and amortization	383,936	346,555
Fixed asset additions	677,444	641,282
Total assets	59,637,334	58,629,981	62,873,874
Wholesale Leathercraft [Member]
Segment Reporting Information [Line Items]
Net sales	6,725,304	6,823,968
Gross profit	4,169,635	4,530,209
Operating earnings	951,855	1,372,637
Interest expense	44,163	45,828
Other income (expense), net	-11,393	-9,776
Income before income taxes	919,085	1,336,585
Depreciation and amortization	239,718	225,855
Fixed asset additions	419,906	236,211
Total assets	39,891,481	41,806,750
Retail Leathercraft [Member]
Segment Reporting Information [Line Items]
Net sales	13,109,413	11,956,354
Gross profit	7,845,766	7,498,416
Operating earnings	1,403,452	1,472,703
Income before income taxes	1,403,452	1,472,703
Depreciation and amortization	132,862	104,441
Fixed asset additions	257,538	356,198
Total assets	16,388,517	13,903,814
International Leathercraft [Member]
Segment Reporting Information [Line Items]
Net sales	954,047	1,058,144
Gross profit	567,527	687,098
Operating earnings	33,574	121,323
Other income (expense), net	-8,480	8,432
Income before income taxes	42,054	112,891
Depreciation and amortization	11,356	16,259
Fixed asset additions		48,873
Total assets	$3,357,336	$2,919,417

Note_6_Segment_Information_Det2

Note 6 - Segment Information (Details) - Net Sales for Geographic Areas (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Geographical	$20,788,764	$19,838,466
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Geographical	17,748,632	16,645,886
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Geographical	1,899,118	1,913,512
All Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Geographical	$1,141,014	$1,279,068