FORT WORTH, Texas - Tandy Leather Factory, Inc. (NASDAQ:TLF) announced today the expansion of its Board of Directors with the appointment of Diana Saadeh-Jajeh, a seasoned finance executive. The Board will increase from seven to eight members following the addition of Ms. Saadeh-Jajeh.
Saadeh-Jajeh currently serves as EVP- Chief Financial Officer and Chief Operating Officer at Ryvid, Inc., a developer of light electric mobility platforms. Her extensive background includes executive roles at GameStop (NYSE:GME), Inc., where she held positions such as EVP and Chief Financial Officer, and SVP and Chief Accounting Officer. Her experience also spans a tenure at JUUL Labs, Inc. as VP-Global Finance Operations and Business Transformation.
With a B.S. in accounting and finance from San Francisco State University and an MBA from Notre Dame de Namur University, Saadeh-Jajeh also holds a CPA license. Her appointment is part of a strategic initiative to bolster the Board's expertise in finance and consumer products.
Janet Carr, CEO of Tandy Leather, expressed confidence in the smooth transition of Saadeh-Jajeh to the role of Chair of the Audit Committee, succeeding the retiring Elaine Crowley. Crowley is recognized for her significant contributions during her tenure on the Board.
Saadeh-Jajeh remarked on her honor to join the Board of a company with a deep-rooted history in the Dallas-Fort Worth community and expressed eagerness to contribute to its continued success.
Tandy Leather, with a legacy spanning over a century, is a specialty retailer offering a wide range of leather goods and accessories. It operates 101 North American stores and one store in Spain. The company's common stock is traded on the Nasdaq Stock Market under the symbol "TLF".
This announcement is based on a press release statement from Tandy Leather Factory, Inc.
InvestingPro Insights
Tandy Leather Factory, Inc. (NASDAQ:TLF) has demonstrated a strong financial position, as reflected in recent data from InvestingPro. With a market capitalization of $38.72 million, the company's financial health is underscored by a robust gross profit margin of 59.25% for the last twelve months as of Q4 2023. This impressive margin is indicative of the company's ability to efficiently manage its cost of goods sold and maintain profitability.
Moreover, Tandy Leather Factory's P/E ratio stands at a reasonable 10.29, with an adjusted P/E ratio for the same period at 10.28, suggesting that the company's earnings are in line with its share price, making it an attractive option for value investors. Additionally, the firm's liquidity is solid, with liquid assets surpassing short-term obligations, which is a reassuring sign for stakeholders and potential investors considering the company's financial resilience.
InvestingPro Tips highlight that Tandy Leather Factory holds more cash than debt on its balance sheet, further solidifying its financial stability. Furthermore, the company has been profitable over the last twelve months, a testament to its operational efficiency and market strategy. It's also worth noting that Tandy Leather does not pay a dividend, which could be a strategic decision to reinvest earnings back into the company for growth and expansion.
For readers interested in a deeper analysis, there are additional InvestingPro Tips available for Tandy Leather Factory, which can be accessed at: https://www.investing.com/pro/TLF. And for those looking to subscribe to InvestingPro for year-long insights, be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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