Mark Angus, President, added, "As we head into the holiday shopping season, we are excited about our featured product line up and our marketing plans. Further, we are very pleased with the warm reception from the Philadelphia market for our new store opened there a few weeks ago. Despite the retail headwinds, we are still on track to open several more stores in the coming months."Financial Outlook: The following statements are based on TLF's current expectations as of November 3, 2016. These statements are forward-looking statements and should be read in conjunction with the cautionary information about these statements that appears below. Estimated consolidated net sales for 2016 will be in the range of $82-83 million. EPS for 2016 are expected to be in the range of $0.69 to $0.71. Average shares outstanding, both basic and diluted, in 2016 are estimated to be approximately 9.7 million. The Company assumes an effective tax rate for the year between 36% and 37%. Tandy Leather Factory, Inc., ( http://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 27 Leather Factory stores, located in 18 states and 3 Canadian provinces, 82 Tandy Leather retail stores, located in 36 states and 6 Canadian provinces, and four combination wholesale/retail stores located in the United Kingdom, Australia, and Spain. Its common stock trades on the Nasdaq with the symbol "TLF". To be included on Tandy Leather Factory's email distribution list, go to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0. This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Shannon L. Greene Tandy Leather Factory, Inc. (817) 872-3200 or email@example.com Mark Gilbert Magellan Fin, LLC (317) 867-2839 or MGilbert@MagellanFin.com