The tannery's revenue fell sharply year-on-year
Tandy Tanneries has released its financial report for the first quarter of 2024, with revenue down 5.3% to $19.3 million.
Tandy reported gross profit of $10.9 million (down 7.6% year-over-year), net income of $0.5 million, down 28.6% year-over-year, and gross margin of 56.7%.
Janet Carr, CEO of Tandy, said: "Our sales in the first quarter were down by about 5 percent, reflecting both the sluggish consumer environment and the gap to the strong performance in the first quarter of 2023. Gross margin also declined, so we increased promotions in March to offset lower sales in January and February. ”
"Looking ahead, we will continue to build on the progress we made in the first quarter to improve the overall quality and performance of our retail stores, including initiatives such as filling some key retail roles and making strategic store relocations," she said. ”
About Tandy leather
Tandy Leather is the world's leading distributor of premium leather and leather goods with nearly 100 years of leather experience. Since 1919, Tandy Leather has been a repository of resources for generations of leather craftsmen, offering quality leather, tools, kits and educational resources. Charles Tandy's dream is to teach the world about the craft of leather.
Dow silicone leather material achieved mass production
NEWS
On May 8, Dow announced that its LuxSense silicone leather material has successfully achieved a new round of mass production in the Chinese market. Honed specifically for the automotive industry, this innovative material helps customers create healthy cockpits that truly meet the needs of today's markets, bringing innovative technology solutions that combine luxury, health, safety, convenience and sustainability to the automotive interior industry.
Dow attaches great importance to and pays attention to the development of the automotive industry. Under the new trend of lightweight, electrification and intelligence, Dow is committed to working with OEMs to focus on R&D for the sustainable development of the entire automotive market, and explore the infinite possibilities of material science in automobiles. Jeroen Bello, director of global marketing for Mobility Science at Dow, said, "Dow is committed to not only working with our partners with best-in-class product performance, but also to contributing innovative and environmentally friendly solutions to the automotive industry. ”
Car seats are in a confined space for a long time, and will be in contact with the user's skin every day, so the requirements for fabrics are much higher than household items, and seat fabrics are indispensable for high abrasion resistance, ultraviolet resistance, hydrolysis resistance, easy cleaning, non-toxic and odorless. Mobility Science scientists have innovatively used liquid silicone rubber technology to overcome more than 30 high-standard limit tests such as abrasion resistance, stain resistance, and low emissivity, and the product is not only wrinkle-resistant, easy to clean, but also free of harmful solvents and plasticizers, odorless and non-volatile, and has superior performance in terms of softness, stability and durability, and environmental protection. As a result, LuxSense silicone leather material became the world's first high-end sustainable silicone synthetic leather material approved for use in transportation seats and interiors three years ago. According to Dow, the launch of LuxSense silicone leather material not only brings more innovative and sustainable solutions to the automotive industry, but also helps Dow meet its carbon reduction commitments.