TLF - Earnings call 1 2023 | Tandy Leather Factory, Inc.

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Daniel Ross

Good morning, everyone. Thank you for joining us for a discussion of Tandy's First Quarter 2023 Financial Results. I'm Dan Ross, General Counsel and Corporate Secretary for Tandy, and I will co-moderate 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]

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

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

Janet Carr

everyone. Thanks, Good morning. Hi, Dan.

were first margin million, was profit 'XX, XX million XXXX Our $XX.X in X.X% million XXXX. with down sales down in $XX.X million Gross quarter or points. gross versus $XX.X $XX.X basis rate from

March held of was XXXX, we $X the million at as year-end. year-end. down $XX.X of of up equivalents, million end $X.X from at from XX, cash $XX.X the Inventory cash quarter, million As and of million

in of We're first our quarter slight operating sales. million pleased despite the income decline with total $X

expenses, strategy of even in and weakening working. maintain the consumer manage Our to deliver operating face margin gross positive cash demand is

of toward us as goal fleet last positioning year, the future our sales from sustainable we cash over number made environment a the the stores we've good unprofitable improves. grow With progress pruned of profit to believe demand while delivering and

comments. or your happy am I And take questions to

Daniel Ross

the waiting entering We have [Operator room. from a Instructions] few just people

Janet Carr

going somebody the has set shortest record No questions? call speed to ever. know question. for a We're I

these press questions, blah, by we a to our Yes. scripted calls long than are. we're disclosed release really blah, for looking everything comments our driven whatever blah in I some your a be rather commentary. mean, discussion And with in XX-Q, look, and

available little a releases, or pondering think later, can always sit want reach Relations you if And to directly But they happy here may ask. we're to while our press for to my is what always you are occurs website as happy something but me on so to through also Investor people to info are chat. contact out I we

Daniel Ross

Instructions] [Operator

Janet Carr

[Operator Instructions]

Unknown Analyst

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Janet Carr

Yes. a opened in Bragg small North We very store Carolina. format Fort in

Liberty year. been now. in I opened And last it's of think November And Fort experiment. it's maybe it we an

and an who see are We helping base really of if an gives paying out. model to percentage run And there rent. and versus really, It's concessions interesting the the really on people a a supportive we are have really customer, reach commission looking sales military fixed being us quite us advantage. It a is model.

are So anybody's not But learning. knocking great the sort of socks sales off. a it's been

And low commitment, we it's we worth if continue very to can each a it's believe year got X-year agreed commitment because we to it. and renew it's --

for an really us. experiment it's So

lot a bases that There U.S. attractive Tandy. the around and could to importantly, a maybe, lot of really the more be are in world,

the much more international not bit think of little a more audience I have do ways are a lot and attractive because a as even competition. you bases captive in of potential

the is out robust a So this U.S. I whether not is for would say jury or in model on us

to the in take and we where We future. this learning can a looking are forward still lot

a call should Anyone day, else? Well, we Dan? it

Daniel Ross

like have further Yes, no it looks we questions.

Janet Carr

Okay.

quarter. speaking to us you you to forward And directly. you everyone. always thank you looking Tandy for and support. reach out your Bye, again your interest can Thank next for As always, in to

Tandy Leather Factory (TLF) 18 May 232023 Q1 Earnings call transcript