---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-002792"
form_type: "8-K"
ticker: "CRWS"
cik: "0000025895"
company_name: "CROWN CRAFTS INC"
filed_at: "2022-02-09T23:59:59+00:00"
generated_at: "2026-06-27T09:42:47.076082+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crown Crafts Q3 net sales up 16%; appoints Olivia Elliott CEO effective March 1

## Summary
- Q3 net sales $22.7M vs $19.5M (+16% YoY); net income $2.4M ($0.24 diluted EPS) vs $2.1M ($0.21).
- Ex-Carousel Designs, net sales up 23.8% in Q3, 14.6% YTD; gross margin fell to 27.1% from 31.6%.
- YTD net income $7.5M ($0.74) includes $1.985M PPP loan forgiveness; adjusted net income $6.3M ($0.63) vs $5.9M ($0.58).
- Olivia Elliott named CEO effective March 1, 2022; E. Randall Chestnut remains Chairman.
- Quarterly dividend of $0.08/share declared, payable April 8 to shareholders of record March 18.

## SEC filing metadata
- accession: 0001437749-22-002792
- form_type: 8-K
- ticker: CRWS
- cik: 0000025895
- company_name: CROWN CRAFTS INC
- filed_at: 2022-02-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25895/000143774922002792/0001437749-22-002792-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25895/000143774922002792/crws20220202_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-002792
- JSON: https://secwatch.observer/filing/0001437749-22-002792.json
- Plain text: https://secwatch.observer/filing/0001437749-22-002792.txt

## Key facts
- Executive change
  Olivia W. Elliott was appointed as Chief Executive Officer at CROWN CRAFTS INC.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On February 8, 2022, the Company’s Board of Directors appointed Olivia W. Elliott to serve as the Company’s Chief Executive Officer, effective March 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774922002792/0001437749-22-002792-index.htm
- Executive change
  Olivia W. Elliott changed role as Chief Operating Officer at CROWN CRAFTS INC.
  - Action: cease serving as
  - Role: Chief Operating Officer
  source text: Ms. Elliott currently serves as the Company’s President and Chief Operating Officer, but will cease serving as Chief Operating Officer on such date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774922002792/0001437749-22-002792-index.htm
- Executive change
  E. Randall Chestnut changed role as Chief Executive Officer at CROWN CRAFTS INC.
  - Action: will no longer serve as
  - Role: Chief Executive Officer
  source text: Upon effectiveness of Ms. Elliott’s appointment as Chief Executive Officer, E. Randall Chestnut, who has served as the Company’s Chief Executive Officer since 2001, will no longer serve in such role but will continue to serve as Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774922002792/0001437749-22-002792-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.