Claire K. Spencer was appointed as Chief Financial Officer, Secretary and principal financial and accounting officer at CROWN CRAFTS INC.
“On June 16, 2025, the Company’s Board of Directors appointed Claire K. Spencer as the Company’s: (i) Vice President, effective June 16, 2025; and (ii) Chief Financial Officer, Secretary and principal financial and accounting officer, effective June 30, 2025 upon Mr. Demarest’s retirement as the Company’s Chief Financial Officer and principal financial and accounting officer.”
Craig J. Demarest departed as Chief Financial Officer and principal financial and accounting officer at CROWN CRAFTS INC.
“Craig J. Demarest will retire as the Chief Financial Officer and principal financial and accounting officer of Crown Crafts, Inc. (the “Company”), effective June 30, 2025.”
Craig J. Demarest departed as Chief Financial Officer at CROWN CRAFTS INC.
“On February 11, 2025, Craig J. Demarest, the Chief Financial Officer and principal financial and accounting officer of Crown Crafts, Inc., notified the Company’s Board of Directors (the “Board”) of his decision to retire from all positions he holds with the Company and its subsidiaries, effective June 30, 2025.”
M&A Transactions
CROWN CRAFTS INC completed an acquisition involving Baby Boom Consumer Products, Inc. for $18.0 million in cash (closed 2024-07-19).
“Seller and the Owners are collectively referred to in this Report as the “Seller Parties”. Pursuant to the Purchase Agreement, the purchase price for the acquistion was $18.0 million in cash (the “Purchase Price”), subject to a dollar-for-dollar adjustment to the extent that the working capital at closing is greater or less than the target working capital of”
Earnings Releases
CROWN CRAFTS INC reported third quarter fiscal year 2024, which ended December 31, 2023 results: revenue $23.8 million, net income $1.7 million, EPS $0.17 per diluted share.
“Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) today reported results for the third quarter fiscal year 2024, which ended December 31, 2023. Third Quarter Summary ● Net sales of $23.8 million, an increase of 25.2% from the prior-year quarter ● Gross profit as a percentage of net sales of 27.0%, up from 23.7% in the third quarter of fiscal 2023 ● Net income of $1.7”
Earnings Releases
CROWN CRAFTS INC reported the second quarter of fiscal year 2024, which ended October 1, 2023 results: revenue $24.1 million, net income $1.8 million, EPS $0.18 per diluted share.
“(NASDAQ-CM: CRWS) (the “Company”) today reported financial results for the second quarter of fiscal year 2024, which ended October 1, 2023. Second Quarter Summary ● Net sales of $24.1 million in the current quarter, an increase of 28.9% over the prior year ● Gross profit was 27.3% of net sales in the current quarter, 29.1% in the prior-year quarter ● Net income in the”
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.
“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”
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.
“For Against Abstain Broker Non-Votes 4,532,017 364,259 142,797 2,902,686”
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.
“For Against Abstain Broker Non-Votes 7,268,272 612,163 61,324 0”
Shareholder Votes
CROWN CRAFTS INC shareholders approved Election of Directors (one Class II and two Class III nominees) at the 2023-08-15 meeting.
“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.”
Earnings Releases
CROWN CRAFTS INC reported fiscal year 2023, which ended April 2, 2023 results: revenue $75.1 million, net income $5.7 million, EPS $0.56 per diluted share.
“Net sales of $75.1 million, compared to $87.4 million in fiscal 2022 ● Gross margin of 26.4% of net sales, compared to 26.7% in the prior year ● Net income of $5.7 million, or $0.56 per diluted share, compared to $9.9 million, or $0.98 per diluted share, in the prior year”
Earnings Releases
CROWN CRAFTS INC reported fourth quarter and full year of fiscal year 2023, which ended April 2, 2023 results: revenue $21.6 million, net income $828,000, EPS $0.08 per diluted share.
“Net sales of $21.6 million, compared to $25.7 million in the prior-year quarter ● Net income of $828,000, or $0.08 per diluted share, compared to $2.4 million, or $0.24 per diluted share, in the prior-year quarter”
Michael Benstock was appointed as Director at CROWN CRAFTS INC.
“On April 18, 2023, the Board of Directors (the “Board”) of Crown Crafts, Inc. (the “Company”) appointed Michael Benstock to the Board as a Class II director, effective on May 1, 2023, to serve until the next annual meeting of stockholders of the Company.”
M&A Transactions
CROWN CRAFTS INC completed an acquisition involving H Enterprises International, LLC for $17.0 million in cash (closed 2023-03-17).
“of the issued and outstanding membership interests of MTC from Seller (the “Purchase Agreement”). Pursuant to the Purchase Agreement, the purchase price for the acquistion was $17.0 million in cash (the “Purchase Price”), on a cash-free, debt-free basis, subject to adjustment to the extent that actual net working capitial as of the closing differs from target net”
Debt Financings
CROWN CRAFTS INC amended credit facility of $35.0 million with CIT maturing July 2028.
“amended the Financing Agreement, dated as of July 11, 2006, as thereafter amended, between the Company, its subsidiaries and CIT (the “Financing Agreement”), to extend the term of the line of credit from July 2025 to July 2028 and to increase the borrowing capacity thereunder from $26.0 million to $35.0 million”
Earnings Releases
CROWN CRAFTS INC reported the third quarter of fiscal year 2023, which ended January 1, 2023 results: revenue $19.0 million, net income $1.3 million, EPS $0.13 per diluted share.
“Net income for the third quarter of fiscal 2023 was $1.3 million, or $0.13 per diluted share, on net sales of $19.0 million, compared with net income of $2.4 million, or $0.24 per diluted share, on net sales of $22.7 million for the third quarter of fiscal 2022.”
Earnings Releases
CROWN CRAFTS INC reported the first six months of fiscal 2023 results: revenue $34.4 million, net income $3.5 million, EPS $0.34 per diluted share.
“For the six-month fiscal period, net income was $3.5 million, or $0.34 per diluted share, on net sales of $34.4 million”
Earnings Releases
CROWN CRAFTS INC reported the second quarter of fiscal 2023 results: revenue $18.7 million, net income $2.0 million, EPS $0.20 per diluted share.
“Net income for the second quarter of fiscal 2023 was $2.0 million, or $0.20 per diluted share, on net sales of $18.7 million”
Olivia W. Elliott was appointed as Director at CROWN CRAFTS INC.
“the Company’s Board of Directors (the “Board”) appointed: (i) Olivia W. Elliott, the Company’s President and Chief Executive Officer, as a director of the Company, effective May 1, 2022”
E. Randall Chestnut resigned as Chairman of the Board at CROWN CRAFTS INC.
“E. Randall Chestnut agreed that he shall retire from the Company effective May 1, 2022 and, in connection therewith, he has resigned his position as a director of the Company, and all other positions he holds with the Company, effective as of such date.”
E. Randall Chestnut changed role as Chief Executive Officer at CROWN CRAFTS INC.
“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.”
Olivia W. Elliott was appointed as Chief Executive Officer at CROWN CRAFTS INC.
“On February 8, 2022, the Company’s Board of Directors (the “Board”) appointed Olivia W. Elliott to serve as the Company’s Chief Executive Officer, effective March 1, 2022.”
E. Randall Chestnut changed role as Chief Executive Officer at CROWN CRAFTS INC.
“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.”
Olivia W. Elliott changed role as Chief Operating Officer at CROWN CRAFTS INC.
“Ms. Elliott currently serves as the Company’s President and Chief Operating Officer, but will cease serving as Chief Operating Officer on such date.”
Olivia W. Elliott was appointed as Chief Executive Officer at CROWN CRAFTS INC.
“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.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.