SECURITIES AND EXCHANGE COMMISSION
                      
                      

                                    FORM 8-K



                                 CURRENT REPORT
                       Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934



                       Date of Report:    August 19, 1998


               Date of Earliest Event Reported:  August 12, 1998




                               TANDYCRAFTS, INC.

                             A DELAWARE CORPORATION


               1-7258                            75-1475224
               ------                            ----------
      (Commission File Number)       (IRS Employer Identification No.)



                              1400 Everman Parkway
                            Fort Worth, Texas  76140
                                 (817) 551-9600


ITEM 5.   OTHER EVENTS
          ------------

          (a)  On August 12, 1998, Registrant issued a press release announcing
               the results of operations for the three- and twelve-month periods
               ended June 30, 1998.


ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS
          ---------------------------------

          (c)  Exhibits.
               --------

               Exhibit
                Number                    Description
               --------  -------------------------------------------

                  99     Copy of press release announcing the results of
                         operations for the three- and twelve-month
                         periods ended June 30, 1998.



                                   SIGNATURES

      Pursuant to the requirements of the  Securities Exchange Act of 1934,  the
registrant has  duly caused  this report  to  be signed  on  its behalf  of  the
undersigned thereunto duly authorized.


                                          TANDYCRAFTS, INC.

Date:  August 19, 1998                    By:/s/ Michael J. Walsh
                                             --------------------------
                                             Michael J. Walsh
                                             President



Date:  August 19, 1998                    By:/s/ James D. Allen
                                             --------------------------
                                             James D. Allen
                                             Chief Financial Officer