Tandy Leather Factory appoints Elaine D. Crowley to its Board of Directors

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FORT WORTH, Texas, May 21, 2021 (GLOBE NEWSWIRE) – Tandy Leather Factory, Inc. (pink: TLFA) today announced the appointment of Elaine D. Crowley to the company’s board of directors on May 19, 2021. Ms. Crowley has also been appointed to sit on the Board’s Audit Committee. As part of Ms. Crowley’s appointment, the company’s board of directors is reduced from seven to eight members.

Ms. Crowley, 62, most recently served as Head of Restructuring of Stage Stores, Inc. from May 2020 to October 2020 and served on its Board of Directors from 2014 to 2020. From 2010 until her retirement in 2012, Ms. Crowley Crowley was Executive Vice President and Chief Financial Officer of Mattress Giant Corporation, a mattress retailer. Previously, from 2008 to 2010, Ms. Crowley worked at Michaels Stores, Inc. (2008-2010), Executive Vice President and Chief Financial Officer and Senior Vice President, Controller and Chief Accounting Officer / Chief Financial Officer; The Bombay Company, Inc. (1990-2007) most recently as Senior Vice President, Chief Financial Officer and Treasurer; and as liquidation trustee for Bombay Liquidation Trust from (2007-2017). She has 11 years of public accounting experience primarily with Price Waterhouse, holds a BBA in Accounting from Texas Christian University, and holds a Certified Public Accountant license in Texas.

Janet Carr, CEO of the Company, said, “We are delighted to welcome Elaine Crowley to our board. Her deep experience in retail finance speaks for itself, and she brings tremendous expertise and experience working on and with audit committees. As we approach the completion of our financial restatement and return to regular public company reporting, Elaine will be a valued leader for the next phase of Tandy’s financial and business growth.

Ms. Crowley commented: “Tandy Leather is a real institution here in the Fort Worth area, with both a 100 year history and a solid plan for the future. I am very happy to join the Tandy Board of Directors and play a role in their next chapter. “

Tandy Leather Factory, Inc., (https://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer of a wide range of products, including leather, work tools leather, belt buckles and ornaments, leather dyes and trims, saddle and tack material, and craft kits. The Company distributes its products through its 105 North American stores located in 40 US states and six Canadian provinces, and one store located in Spain. Its common stock is traded over-the-counter on “pink sheets” bearing the symbol “TLFA”. To be on the Tandy Leather Factory email list, go to: https://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.

Contact: Janet Carr, Tandy Leather Factory, Inc. (817) 872-3200 or [email protected]

This press release may contain statements regarding events, occurrences, circumstances, activities, performance, results and future results that are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected due to certain risks and uncertainties. These risks and uncertainties include, but are not limited to: changes in general economic conditions; negative trends in levels of general consumer spending; failure to realize the expected benefits of opening retail stores; availability of skins and leathers and resulting price fluctuationsns; 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.

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