---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-023898"
form_type: "8-K"
ticker: "CRWS"
cik: "0000025895"
company_name: "CROWN CRAFTS INC"
filed_at: "2023-08-16T23:59:59+00:00"
generated_at: "2026-06-11T08:52:35.186615+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crown Crafts Q1 sales up 9% to $17.1M; EPS drops to $0.04 from $0.14 YoY

## Summary
- Net sales $17.1M (+9% YoY); Manhattan Toy acquisition contributed $3.7M to sales.
- Net income $366K ($0.04 diluted EPS) vs $1.4M ($0.14) in prior-year quarter.
- Gross margin fell to 27.7% from 32.8%; marketing/admin expenses rose to $4.0M.
- Declared quarterly dividend of $0.08/share, payable Oct 6 to holders of record Sep 15.
- CEO cites inflationary headwinds; expects Manhattan Toy integration to improve results.

## SEC filing metadata
- accession: 0001437749-23-023898
- form_type: 8-K
- ticker: CRWS
- cik: 0000025895
- company_name: CROWN CRAFTS INC
- filed_at: 2023-08-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/0001437749-23-023898-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/crws20230809_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-023898
- JSON: https://secwatch.observer/filing/0001437749-23-023898.json
- Plain text: https://secwatch.observer/filing/0001437749-23-023898.txt

## Key facts
- Earnings Releases
  CROWN CRAFTS INC reported first quarter of fiscal year 2024, which ended July 2, 2023 results: revenue $17.1 million, net income $366,000, EPS $0.04 per diluted share.
  - Period: first quarter of fiscal year 2024, which ended July 2, 2023
  - Revenue: $17.1 million
  - Net income: $366,000
  - EPS: $0.04 per diluted share
  - Result: reported results
  source text: Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) today reported results for the first quarter of fiscal year 2024, which ended July 2, 2023. First Quarter Summary ● Net sales of $17.1 million, an increase of 9.0% from the prior-year quarter ● Net income of $366,000, or $0.04 per diluted share ● Declared quarterly dividend of $0.08 per share of Series A common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/0001437749-23-023898-index.htm
- Shareholder Votes
  CROWN CRAFTS INC shareholders approved Ratification of appointment of KPMG LLP as independent registered public accounting firm for fiscal year ending March 31, 2024 at the 2023-08-15 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstain Broker Non-Votes 7,268,272 612,163 61,324 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/0001437749-23-023898-index.htm
- Shareholder Votes
  CROWN CRAFTS INC shareholders approved Election of Directors (one Class II and two Class III nominees) at the 2023-08-15 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: The following tables reflect the tabulation of the votes with respect to each proposal submitted to a vote of the Company’s stockholders at the Annual Meeting. At the Annual Meeting, the Company’s stockholders: (i) elected one Class II nominee to the Company’s Board of Directors (the “Board”) and elected two Class III nominees to the Board; (ii) ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2024; and (iii) approved (on an advisory basis) the compensation of the Company’s named executive officers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/0001437749-23-023898-index.htm
- Shareholder Votes
  CROWN CRAFTS INC shareholders approved Advisory approval of the compensation of the Company's named executive officers at the 2023-08-15 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstain Broker Non-Votes 4,532,017 364,259 142,797 2,902,686
  evidence_url: https://www.sec.gov/Archives/edgar/data/25895/000143774923023898/0001437749-23-023898-index.htm

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