TLF — what changed in the latest 10-Q
A section-by-section comparison of TLF's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-11 vs the prior 10-Q · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +9 | −15 | ~4 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | ~2 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-11
Consolidated net sales for the quarter ended March 31, 2026 increased by $0.6 million or a 3.2% increase compared to the same period in the prior year period. We believe the increase was mainly due to our sales campaign and improved allocation of the correct product mix in our stores during those sa…
Gross profit for the quarter increased by $1.3 million, or 11.9%, compared to the same period in 2025. Gross margin percentage for the quarter ended March 31, 2026 was 470 basis points better than last year, primarily driven by pricing changes; offset by marginal discounts for the period compared to…
Operating expenses for the quarter increased by $1.1 million or 11.2% compared to the corresponding prior year period, primarily as a result of an increase in compensation cost of $0.6 million, an increase in total occupancy of $0.4 million, an increase in property tax expense of $0.2 million compar…
Our effective income tax rate for the three months ended March 31, 2026 and March 31, 2025 was 39.5% and 26.5%, respectively. Our effective tax rate differs from the federal statutory rate primarily due to U.S. state income tax expense, expenses that are non-deductible for tax purposes, and any chan…
We require cash principally for day-to-day operations, to purchase inventory and to finance capital investments. We expect to fund our operating and liquidity needs primarily from a combination of current cash balances and cash generated from operating activities. Any excess cash will be invested as…
Text removed vs the prior filing · source: 10-Q · 2025-11-10
The Company hired Johan Hedberg as its new Chief Executive Officer as of January 6, 2025. Prior to the hiring of Mr. Hedberg, Janet Carr resigned as Chief Executive Officer, effective January 3, 2025; she remained employed by the Company to assist with transition until March 31, 2025.
Consolidated net sales for the quarter ended September 30, 2025 decreased by $0.1 million or a 0.5% decrease compared to the same period in the prior year period. We believe the negligible decrease was mainly due to the relocation of our corporate office, which led to the closure of our warehouse fo…
Gross profit for the quarter increased by $0.2 million, or 1.5%, compared to the same period in 2024. Gross margin percentage for the quarter ended September 30, 2025 was 110 basis points better than last year, primarily driven by inventoriable costs adjustments and pricing changes; offset by tariff…
Operating expenses for the quarter increased by $0.6 million or 5.4% compared to the corresponding prior year period, primarily as a result of an increase in total occupancy of $0.7 million mainly to cover rent expense for our corporate offices that were previously owned; partially offset by a decre…
Our effective income tax rate for the three months ended September 30, 2025 and September 30, 2024 was 26.2% and 27.9%, respectively, and are primarily due to the recognition of tax benefits on the sales of our corporate property, partially offset by forecasted income taxes loss projected due to our…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice