A few weeks ago while scrolling through my Facebook (FB) feed, I noticed two things: the overwhelming number of friends who were announcing their engagements and the number of pregnancy announcements. At that moment, it became official that I was at that age; the age where these two life milestones would be common in my social media feeds. With all these anticipated life milestones just around the corner, the need for gift shopping is coming, especially for expecting parents who are going to need lots of help. Crown Crafts, Inc. (CRWS), a designer, marketer and distributor of infant and toddler products, is helping the friends and family of expecting parents-to-be welcome a new bundle of joy.
Founded in 1957, Crown Crafts’ operating subsidiaries, Crown Crafts Infant Products, Inc. and Hamco, Inc., market a variety of products under company-owned trademarks, as well as licensed collections and exclusive private label programs for certain of its customers. The company offers a variety of products, including changing mats, disposable bibs, bedding, blankets, and room decor.
“Crown Crafts is ideally positioned, both operationally and financially, to pursue the tremendous opportunities we see for global growth in our markets,” said E. Randall Chestnut, President and CEO of Crown Crafts. “We have taken aggressive actions to strengthen our business, and we have a very strong balance sheet. Our Board and management team are keenly focused on delivering sustained shareholder value creation.”
Earlier this month, Crown Crafts announced fiscal 2016 third quarter results, which revealed the following:
- Net income and gross margin improving for the quarter and year to date
- Reporting cash balance of $7.5 million at quarter end
- Board declaring special dividend of $0.25 per share in addition to a quarterly dividend of $0.08 per share
Furthermore, the company, in recent months announced the Appointment of Andrea McCook as its new Vice President of Design. McCook has more than 15 years of experience in the design and marketing of apparel and accessories.
"We are excited to bring Andrea aboard to lead our design team and further strengthen the position of our Company," said Chestnut. "We believe our creative team is one of our key strengths, providing us with the flexibility and opportunity to bring new products to the market that are in line with the changing preferences and needs of today's young families."
As one of the largest U.S. providers of baby essentials and accessories, Crown Craft is at the forefront of a stable retail industry. With positive developments in recent months and the appointment of a key member of their leadership team, the company is strategically positioned for continued future growth.
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