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.
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.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced that it will release its third-quarter fiscal 2023 results on February 15, 2023, before market opening. CEO Olivia W. Elliott and CFO Craig J. Demarest will host a teleconference at 10:00 a.m. CST to discuss the results. Interested participants can join by calling (844) 861-5504 or listening online via the company's website. A replay of the call will be available after the event until 4:00 p.m. CDT on May 15, 2023. Crown Crafts is a leading producer of infant and juvenile consumer products, operating through subsidiaries NoJo Baby & Kids, Inc. and Sassy Baby, Inc.
Crown Crafts, Inc. (CRWS) reported second-quarter fiscal 2023 results, with net income at $2.0 million or $0.20 per diluted share, down from $2.4 million or $0.24 per share year-over-year. Net sales decreased to $18.7 million from $20.2 million. Despite challenges from inflation, the year-to-date gross profit improved to 30.8% of net sales. The company declared a quarterly dividend of $0.08 per share, payable on January 6, 2023. The balance sheet remains robust, positioning Crown Crafts well for future recovery.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced that Olivia W. Elliott, President and CEO, and Craig J. Demarest, CFO, will present at the 14th Annual Southwest IDEAS Investor Conference on November 17, 2022, at 8:45 a.m. CST in Dallas, Texas. The presentation will be available via live webcast on the conference's main website and the Company's investor relations page, with a replay accessible for 90 days post-event. The IDEAS Investor Conferences aim to provide a quality platform for companies to connect with investment professionals.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) plans to release its Q2 FY 2023 earnings on November 16, 2022, before the market opens. The company will hold a teleconference at 10:00 a.m. Central Standard Time to discuss the results and answer questions. Interested participants can join by dialing (844) 861-5504 or listening online at the company's website. A replay of the call will be available for one hour after the event until 4:00 p.m. Central Standard Time on February 16, 2023. Crown Crafts specializes in consumer products for infants and toddlers.
Crown Crafts, Inc. (NASDAQ: CRWS) announced its participation in the 12th Annual Midwest IDEAS Investor Conference on August 24, 2022, in Chicago, Illinois. Olivia W. Elliott, President and CEO, along with Craig J. Demarest, VP and CFO, will present at 2:15 p.m. CDT. The presentation will be streamed live, accessible via the conference website and the company's investor relations page. A replay will be available for 90 days post-event. The IDEAS Investor Conferences aim to connect quality companies with investment professionals.
Crown Crafts, Inc. (CRWS) reported Q1 fiscal 2023 results, showing a net income of $1.4 million ($0.14 per diluted share) on net sales of $15.7 million, down from $2.7 million and $18.7 million in Q1 2022. Gross profit improved to 32.8% of net sales from 24.9%. The company declared a quarterly dividend of $0.08 per share, reflecting a strong balance sheet despite market challenges, including rising inflation leading to decreased retailer purchases. CEO Olivia W. Elliott emphasized commitment to long-term growth strategies and maintaining customer relationships.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) plans to announce its first quarter of fiscal 2023 financial results on August 17, 2022, prior to market opening. CEO Olivia W. Elliott and CFO Craig J. Demarest will lead a teleconference at 1:00 p.m. CDT to discuss the results. Interested participants can join by calling (844) 861-5504 or via the company's website. A replay of the teleconference will be available until November 17, 2022 for those unable to attend the live call.