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Tandy Brands Accessories Inc
Tandy Brands Accessories, Inc. (TBAC) is a publicly traded company that designs, sources, markets, and distributes consumer products, including apparel, footwear, and accessories, in the United States and internationally. The company operates through two segments: Accessories and Footwear. The Accessories segment offers products under various brands, including Tandy, Pappagallo, Tamarillo, Vessel, and Neckwear, among others. The Footwear segment provides products under the Umbro brand.
To get the latest financial information on Tandy Brands Accessories, Inc., you can visit the company's website or the Financial Industry Regulatory Authority (FINRA) website, which provides real-time information on publicly traded companies.
As of the third quarter of 2021, Tandy Brands Accessories reported net sales of $26.4 million, representing a decrease of 10.4% compared to the same period in the previous year. The company's gross profit for the quarter was $9.1 million, or 34.4% of net sales, compared to $10.5 million, or 36.6% of net sales, in the prior-year period. The decrease in gross profit margin was primarily due to higher product costs and increased promotional activity.
For the first nine months of 2021, Tandy Brands Accessories reported net sales of $77.0 million, a decrease of 9.3% compared to the same period in 2020. The company's gross profit for the first nine months of 2021 was $26.8 million, or 34.8% of net sales, compared to $30.2 million, or 37.7% of net sales, in the prior-year period.
In terms of growth, Tandy Brands Accessories has been facing challenges due to the ongoing COVID-19 pandemic, which has had a significant impact on the retail industry. However, the company has been focusing on expanding its product offerings and increasing its presence in the e-commerce channel to drive growth.
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