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., established in 1957, stands as one of the leading producers of infant bedding, toddler bedding, bibs, and developmental toys in the United States. The company operates through its three wholly-owned subsidiaries: Crown Crafts Infant Products Inc., Hamco Inc. (including the Sassy product line), and Carousel Designs LLC. These subsidiaries market a diverse range of infant, toddler, and juvenile products under company-owned trademarks, licensed collections, and exclusive private label programs.
Crown Crafts Inc. serves an extensive customer base, including mass merchants, large chain stores, juvenile specialty stores, grocery and drug stores, restaurants, wholesale clubs, and internet-based retailers. Additionally, consumers can buy directly from the company's online store at www.babybedding.com.
The company's product portfolio features popular brands like NoJo, Neat Solutions, Sassy, and Carousel. Their offering includes infant and toddler bedding, soft bath products, disposable products, and accessories. Through strategic partnerships, Crown Crafts has managed to maintain a robust presence in the consumer products industry.
In recent years, Crown Crafts Inc. has made notable achievements, including expanding their product lines and reinforcing their market presence. The company's financial health remains steady, driven by consistent revenue from their established brands and products.
Crown Crafts (NASDAQ-CM: CRWS) has announced its participation in the 16th Annual Southwest IDEAS Investor Conference on November 20, 2023, at The Statler Hotel in Dallas, Texas. President and CEO Olivia W. Elliott and CFO Craig J. Demarest will deliver a presentation at 8:35 a.m. CST and conduct one-on-one meetings throughout the day.
The presentation will be available via live webcast on the conference host's website and Crown Crafts' investor relations page. A replay will remain accessible for 90 days following the presentation.
Crown Crafts (NASDAQ-CM: CRWS) reported Q2 fiscal 2025 results with net sales of $24.5 million, up from $24.1 million year-over-year. The company posted net income of $860,000, or $0.08 per diluted share, including $788,000 in acquisition-related costs. The recent acquisition of Baby Boom contributed $3.4 million in sales, offsetting declines in legacy businesses. Gross profit margin improved to 28.4% from 27.3% in Q2 2024. The company declared a quarterly dividend of $0.08 per share, payable on January 3, 2025.
Crown Crafts (NASDAQ-CM: CRWS) has announced it will release its second quarter fiscal year 2025 operational results before market opening on November 12, 2024. The company will host a teleconference at 8:00 a.m. CST on the same day, led by President and CEO Olivia W. Elliott and CFO Craig J. Demarest. Investors can join via phone at (844) 861-5504 or access the listen-only mode through the company's website. A replay will be available until February 11, 2025, accessible by dialing (877) 344-7529 (US) or (412) 317-0088 (international) with code 3679859.
Crown Crafts Inc (NASDAQ-CM: CRWS) has announced its participation in the 15th Annual Midwest IDEAS Investor Conference. The event is scheduled for August 28, 2024, at The Gwen, a Luxury Collection Hotel in Chicago, Illinois. Olivia W. Elliott, President and CEO, and Craig J. Demarest, VP and CFO, will represent the company, presenting at 11:30 a.m. CDT.
The presentation will be webcast live and accessible through the conference host's website and Crown Crafts' investor relations page. A replay of the webcast will remain available for 90 days after the presentation. This event provides an opportunity for Crown Crafts to engage with investors and showcase its business strategy and performance.
Crown Crafts (NASDAQ-CM: CRWS) reported financial results for Q1 FY2025, ending June 30, 2024. Key highlights include:
- Net sales of $16.2 million, down from $17.1 million in Q1 FY2024
- Gross profit margin decreased to 24.5% from 27.7% year-over-year
- Net loss of $322,000, or $0.03 per share
- Expenses included $244,000 for UK subsidiary closure and $116,000 for Baby Boom acquisition
- Acquired Baby Boom Consumer Products
- Declared quarterly dividend of $0.08 per share
The company cited prolonged inflationary pressures and nonroutine costs impacting Q1 results. Crown Crafts remains optimistic about future opportunities, including the Baby Boom acquisition expected to be immediately accretive to earnings.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) has announced that it will release its first quarter fiscal 2025 results after market close on August 14, 2024. The company will host a teleconference on August 15, 2024, at 8:00 a.m. CDT to discuss the results. Olivia W. Elliott, President and CEO, and Craig J. Demarest, VP and CFO, will lead the call.
Interested parties can join by dialing (844) 861-5504 or access the listen-only mode via the company's website. A replay will be available until November 15, 2024, accessible by dialing (412) 317-0088 with replay code 1632569.
First Citizens Bank's CIT Commercial Services unit has provided up to $48 million in financing to Crown Crafts Inc. (NASDAQ-CM: CRWS), a major producer of infant and toddler bedding and accessories. The financing package includes a $5 million upsize to a $40 million committed ABL revolving line of credit and an $8 million term loan. Crown Crafts used part of this financing to acquire the assets of Baby Boom Consumer Products, expanding its presence in the toddler bedding segment and adding diaper bags to its product line. This financing deal extends CIT's 20-year-plus relationship with Crown Crafts, supporting the company's growth strategy.
D.A. Davidson & Co. has announced its role as financial advisor to Crown Crafts, Inc. (NASDAQ: CRWS) in its successful acquisition of Baby Boom Consumer Products, Inc. from The Betesh Group. Crown Crafts, a leading supplier of infant and toddler products in the US, aims to expand its product portfolio and market presence through this strategic move. Baby Boom, founded in 1988, is known for its innovative diaper bags and toddler bedding products.
The acquisition brings key licenses to Crown Crafts' portfolio, including popular brands like Ms. Rachel, Bluey, and Cocomelon. This move is expected to strengthen Crown Crafts' position in the bedding category and enhance its licensing and retail relationships. The transaction was supported by D.A. Davidson's Consumer Group, with debt financing provided by The CIT Group.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) has acquired substantially all assets of Baby Boom Consumer Products for $18 million. This acquisition enhances Crown Crafts' presence in the toddler bedding category and expands its product lineup to include diaper bags. Baby Boom offers branded and licensed products, including popular characters like Bluey and Paw Patrol.
The deal was financed through an $8 million term loan and additional borrowings from Crown Crafts' revolving line of credit. The acquisition is expected to be accretive to earnings and add approximately $20 million annually to Crown Crafts' net sales. The company's revolving line of credit has been extended to July 19, 2029, with an increased borrowing capacity of $40 million.
Crown Crafts (NASDAQ-CM: CRWS) has announced its financial results for Q4 and the full fiscal year 2024. Q4 net sales increased to $22.6 million from $21.6 million in the same period last year, with a gross margin improvement to 23.2% from 21.9%. Net income for Q4 was $1.0 million, or $0.10 per diluted share, up from $828,000, or $0.08 per share, last year.
For the fiscal year 2024, net sales rose to $87.6 million from $75.1 million in fiscal 2023, but gross margin slightly decreased to 26.2% from 26.4%. Net income for the year was $4.9 million, or $0.48 per diluted share, compared to $5.7 million, or $0.56 per share, in the previous year. Marketing and administrative expenses increased to $16.1 million from $12.7 million.
The company declared a quarterly dividend of $0.08 per share, payable on July 5, 2024. CEO Olivia Elliott highlighted the successful integration of Manhattan Toy and proactive management amid inflationary pressures.
FAQ
What is the current stock price of Crown Crafts (CRWS)?
What is the market cap of Crown Crafts (CRWS)?
What products does Crown Crafts Inc. offer?
Who are the subsidiaries of Crown Crafts Inc.?
What brands are owned by Crown Crafts Inc.?
Where can consumers purchase Crown Crafts products?
Who are Crown Crafts Inc.'s main customers?
When was Crown Crafts Inc. founded?
What industry does Crown Crafts Inc. operate in?
How does Crown Crafts Inc. market its products?
Who should I contact for investor relations?
What recent achievements has Crown Crafts Inc. made?
