Crown Crafts Net Jumps 35 Percent in Fiscal First Quarter

GONZALES, La.--First-quarter net income for Crown Crafts totaled $726,000, 35 percent ahead of its first quarter of one year ago.

The company accomplished this in spite of a 3.2 percent slip in net sales for the quarter, which totaled $17.2 million. Tight expense controls offset the sales decline, resulting in a gross-margin increase of 260 basis points, to 25 percent, and a gain in operating income of 17.2 percent.

E. Randall Chestnut, Crown Crafts' chairman, president and chief executive officer, said the company achieved its bottom-line growth in spite of the fact that the fiscal first quarter is traditionally the weakest for the company. Chestnut said the company expects sales to grow in its second quarter with improved seasonal demand, greater market penetration and rising global market share.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


Current Issue

  • HFN May digital issue


    May 2017

    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money