TLF - Earnings call 4 2022 | Tandy Leather Factory, Inc.

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Daniel Ross

Thank you for joining us for a discussion of Tandy's Q4 and Full Year 2022 Financial Results. I'm Dan Ross, General Counsel and Corporate Secretary for Tandy, and I will be co-moderating the discussion today.

Our CEO, Janet Carr, will give just a very brief overview of the quarter, and then we will devote the conference to investors' questions and discussion.

[Operator Instructions] With that, let's get started.

Today's presentation will include statements other than historical results that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, each as amended. expectations but based predictions are performance. our we the of reflect today, have not statements or on estimates information future These guarantees or involve contained may cause other results to uncertainties are They from our presentation. actual unknown the materially of statements beyond which many this which and and control differ and known in factors, risks,

forward-looking required to reliance The company statements. law. are You update otherwise these or on cautioned as not to forward-looking statements, revise these no by put obligation except undue assumes

And now Carr. Janet here's

Janet Carr

Dan. Thanks,

going whole So now. doing have and we you are a don't, But PowerPoint not today. to discussion picture post a just happy going if And to presentation really be getting restatement. are answer through year big discuss. we like questions feel We you have the to a we're

So of just Revenues ] at $XX.X XXXX [ down came from in results. X% a X.X% (sic) overview million, XXXX. our quick

$X.X -- points. a but $X of $X.X rate repurchased was which declined We income X.X%, up million gross net came income discussing, been for we've shares sorry, EBITDA, profit about million. -- total basis XXX XXXX. profit stock operating of about million was $X.X in gross XXX,XXX Our gross and margin Adjusted margin Gross was million. in

of rebuilding foundation next headwinds. cash that over at looking years, expecting call really the and last our the saw especially economic of really our future We couple and continue. current potential throughout calls, we sustainable profits building growing focusing profitability, challenges we're a are business face on but in for discussed couple growth, in And we the macroeconomic the XXXX as to likely of last

have. that's all So I

Janet Carr

Questions? Instructions] [Operator

Joe Koster

Sorfis Investments. Koster, Joe is This

you about number you're if size you've a Just the feel and the now you kind sort of if and could more that comfortable profitable talk wanted the with? got of to store to it base of bit little know stores

Janet Carr

we've but grow, they store we four-wall metric and been disciplined because on to love don't stores with four-wall we have the really profitability stores, to to Ultimately, profitability, stores, have base a very cash and question. positive. profitable see four-wall would great a toward closing cash advantage. store much consider our to positive about be Yes, key our as number greater focus appear of the of retail that's would cash like competitive we our store when trend And

a represent There to on when time think we're of again, with of afford that to profit, focused retail to we period really we really a lots are be negative. trying and opportunity. be are we those these geographies if not accessing But store in continuing have can't

can now rents focused when very have no more, there won't have your on been be increasing, question, we've be answer I especially wages So think this. can there been but been unless more increasing profitably. we to it But right and do

Joe Koster

just more jumping if one is I'll And Thanks. ask in. nobody else

the goal could of potentially we Sort -- environment, think margins of a manage some we'll has try just your said back to time you "let's have are we you you there historical do when in sort to eventual sort obviously, -- that get frame Or be get eventually?" on those of to achievable? are the

Janet Carr

you talking operating margins? about Are

Joe Koster

yes, Yes, correct.

Janet Carr

Yes.

all know. that to way of our factors toward We challenging, reiterate environmental are been of need have those have I working that. don't things. lot a you There sort been as

year. be say a you we would for can prefer make So unfold this, the And to we're what plan progress date the setting that progress to quarters of like judge XXXX. in looks not significant as I but this

strong is overall bound bit seen here flow the strong to well lines time even in And decline. as but are our economic to we're profitability, have the we've a sales XXXX. environment We if cash again, internal some positive get goal rough to by as

Joe Koster

final And jumping one I one one else in. you. is have no if Thank

last summer value was in the I for if on anything the that of in year, that mentioned you probably of the think? estimate the I or can't million Has you and think estate last of a or call sort somewhere real front? changed Or Jeff maybe what after-tax remember range. it sort in $XX guys had ballpark jumped was is still

Janet Carr

to Worth ballpark reasonable call. world's shortest in here worth. the comments? Fort estimate It's what a Other is real estate going That's be questions, of the

Unknown Shareholder

Maybe I'm investor. at buying imagine buying I'm a clearly, own Can Why [ same seeing of margin the not this you're the value, you which it process reflected us stock? stage? I'm And and I in here. one the private operations. Nir your if personally, thought the it's question in walk ], through it,

So to tie process that bit increasing maybe can just thought buying a as opposed maybe us little you or equity the walk and with other uses. through stores

Janet Carr

lot future. -- building a been transformation it's new are has value, they growth have foundation Yes. as to generally and it's to use we've There the last been X a of them Good years. the value question. opportunistically we good worn-out We We buying while profitable change for in of large are because block. been our that been making a cliche kind think us for in offered do believe in shares a the great

building like processes and But in been running and terms and long operation, we've a leadership and the business and of professional retail of to been a that. sort slog, accounting systems it's

frankly buying them, as shares and in the we of which we've seeing at been spending that you're do in been which prices towards not lot returns and that. undervalued to building said, I terms cash our at are So But today. operating that are we've is why that a margin our confidence have the feel of

sheet, strong what balance with strong real have also of that and base. I as million think and you do, $XX sheet, Joe Koster debt property see value no here, balance a a we mentioned, on necessarily at look if a you have estate our don't we our very asset

under we at Tandy's value. like think share, great -- like $X feel all feel a I So I

Unknown Shareholder

I guess if no ask if asking. no another one I'll one one is

it, how your extent you So clearly, your what So from how you retail, you're competition and is where? mean, innovate own and/or extremely and it's here there, where to ] that destiny phrase have to hands do feel I in -- related I competitive. you can environment but much if [ should and --

So you do think how that that you about operating How in? see it? do you're environment

Janet Carr

question. It's a great

honestly it I think in in long is a the run. lot hands our of

is environment lot the is. short run down up as that about think I it and a

are We down lot do you're think for do to of But drive waves. see our You -- on kind growth. with the that and in opportunities of hands. the a you're long-term I prospects and Tandy going up ocean, the

around and XXX We way that of or do thinking leather are favorable about We do that a so. from sort talked the in core crafting. years leather of crafting customer see interest of see with secular a we've some coming younger crafting our new prior trends than presentations customer huge really our in last who's about of

regard, in to our target so we create to their ability them in and they those buy. they selling way needs, meet customers, are to want the we're are, the And that where distribution model,

of are short-term balance profit developing how in how how a still and the long-term that right, term balance our delivers the control. cash, model acceptable I really with short we think to things growth. And a that how company, of all we question and every -- we we like long drive honestly, those balance can the it's term, invest

not the commodity. So answer, we're We're I whim I'd the satisfactory if say whim not the an we're -- a know to run, don't a short say not going in that's that of economic the entirely have impact. though, of I'm does but at environment, entirely at

Anyone questions? comments? Going No? once, Other Other Other else? twice? going complaints?

call. we reach think the out Dan -- unless world's All to record chat me individually, shortest as we we're right, to But to you'd the guys, I always. happy or for get like

the open format We this of also are discussion. about to suggestions

would to way. I format be more we feels continuing to that like think of it discussion and evolve the try a that it all to so that

to blah, that of think the is whole script of blah us. not I blah, appealing any

different talking about to weeks our some always, But happy chat you unfold So in forward in feedback, a QX. to and give to like X here see to if of looking and as everyone. you'd Thanks, to this again way. us we're

Daniel Ross

everyone. you, Thank

Janet Carr

Bye.

Tandy Leather Factory (TLF) 4 Apr 232022 Q4 Earnings call transcript