Welcome to our dedicated page for Crown Crafts news (Ticker: CRWS), a resource for investors and traders seeking the latest updates and insights on Crown Crafts stock.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) is a manufacturer and marketer of infant, toddler, and juvenile consumer products, and its news flow reflects this focus. Company press releases and Form 8-K filings highlight regular updates on financial performance, dividends, acquisitions, and operational changes that matter to investors following CRWS stock.
News about Crown Crafts frequently centers on quarterly and annual financial results, where the company reports net sales, gross profit, and other performance metrics for its infant bedding, toddler bedding, diaper bags, bibs, toys, and disposable products. These announcements often discuss the impact of tariffs on products imported from China, changes in product mix between bedding and bibs, toys and disposable items, and the company’s efforts to manage marketing and administrative expenses.
Another recurring news theme is capital allocation and dividends. Crown Crafts regularly issues press releases declaring quarterly cash dividends on its Series A common stock, which are then reported in Form 8-K filings. These items provide context on how the company returns cash to stockholders alongside its operating results.
Corporate developments also appear in Crown Crafts’ news, including updates on acquisitions such as Baby Boom Consumer Products, integration of brands like Manhattan Toy, and changes in leadership roles. The company additionally announces conference participation and teleconferences where management discusses results and answers questions from interested parties.
Investors and followers of CRWS can use the news feed to monitor earnings releases, dividend declarations, acquisition integration commentary, and governance updates. Reviewing this stream of company-issued news helps build a picture of how Crown Crafts describes its performance and strategic priorities in the infant and toddler products segment.
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Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced that CEO Olivia W. Elliott and CFO Craig J. Demarest will present at the 26th Annual Burkenroad Reports Investment Conference on April 28, 2023, at 9:30 a.m. CDT. The event will take place at The Ritz-Carlton New Orleans Hotel. Burkenroad Reports, founded in 1993, focuses on small-cap public companies, providing thorough investment research led by Freeman School of Business students. Crown Crafts is a leading producer of infant and juvenile consumer products, with a diverse portfolio including bedding, toys, and more, marketed through its subsidiaries. The company has established a strong retail presence in mass merchants and specialty stores.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced the appointment of Michael Benstock to its Board of Directors, effective May 1, 2023. Benstock, who has been President and CEO of Superior Group of Companies since 2003, fills the vacancy left by the passing of Sidney Kirschner in February 2023.
Benstock's extensive experience in executive management and strategic thinking is anticipated to enhance Crown Crafts' leadership. His background includes serving as Chairman of Superior and multiple roles within the organization since 1979. The Company sees this appointment as a way to strengthen its board ahead of the next Annual Meeting of Stockholders.
Crown Crafts designs, markets, and distributes juvenile consumer products, operating through its subsidiaries which include brands like NoJo Baby & Kids and Sassy Baby.
Crown Crafts has announced the acquisition of Manhattan Group, which operates as Manhattan Toy, for $17 million. This strategic move aims to enhance Crown Crafts’ offerings in the developmental toy market, targeting the growing demand for physical toys over electronic ones among parents. The acquisition is expected to add approximately $24 million to annual net sales, making the toy category the largest segment in Crown Crafts' portfolio. The funding for this acquisition comes from cash reserves and an increased line of credit. The deal positions Crown Crafts for international expansion and boosts its competitive edge in a promising market.
Crown Crafts, Inc. (CRWS) reported third-quarter fiscal 2023 results with net sales of $19.0 million, down from $22.7 million a year earlier. Net income also declined to $1.3 million or $0.13 per diluted share, compared to $2.4 million or $0.24 per diluted share in the prior-year quarter. Gross profit margin decreased to 23.7% from 27.1%. However, cash and equivalents rose from $2.3 million to $3.1 million, and inventories fell to $25.8 million. The board declared a quarterly dividend of $0.08 per share, payable on April 7, 2023.
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