CRWS — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-24

• The Company operates indirectly through its two wholly-owned subsidiaries, NoJo Baby & Kids, Inc. (“NoJo”) and Sassy Baby, Inc. (“Sassy”), in the infant, toddler and juvenile products segment within the consumer products industry. The infant, toddler and juvenile products segment consists of infant …

• The Company's fiscal year ends on the Sunday nearest to or on March 31. References herein to “fiscal year 2026” or “2026” represent the 52-week period ended March 29, 2026, and references herein to “fiscal year 2025” or “2025” represent the 52-week period ended March 30, 2025.

• The Company was incorporated as a Georgia corporation in 1957 and was reincorporated as a Delaware corporation in 2003. The Company’s executive offices are located at 8184 Highway 44, Suite 111, Gonzales, Louisiana 70737, its telephone number is (225) 647-9100 and its internet address is www.crowncr…

• Sales to customers in countries other than the U.S. represented 9% and 8% of the Company’s total gross sales during fiscal years 2026 and 2025, respectively. International sales are based upon the location that predominately represents what the Company believes to be the final destination of the pro…

• As of March 29, 2026, the Company had 149 employees, all of whom are full-time and none of whom is represented by a labor union or is otherwise a party to a collective bargaining agreement. Crown Crafts’ employees drive the Company’s business growth and success. In return, Crown Crafts strives to dr…

Text removed vs the prior filing · source: 10-K · 2025-06-25

• The Company was incorporated as a Georgia corporation in 1957 and was reincorporated as a Delaware corporation in 2003. The Company’s executive offices are located at 916 South Burnside Avenue, Suite 300, Gonzales, Louisiana 70737, its telephone number is (225) 647-9100 and its internet address is w…

• The Company operates indirectly through three wholly-owned subsidiaries, NoJo Baby & Kids, Inc. (“NoJo”), Sassy Baby, Inc. (“Sassy”) and Manhattan Toy Europe Limited (“MTE”) in the infant, toddler and juvenile products segment within the consumer products industry. The infant, toddler and juvenile p…

• The Company's fiscal year ends on the Sunday nearest to or on March 31. References herein to “fiscal year 2025” or “2025” represent the 52-week period ended March 30, 2025, and references herein to “fiscal year 2024” or “2024” represent the 52-week period ended March 31, 2024.

• On July 19, 2024 , NoJo acquired substantially all of the assets, and assumed certain specified liabilities, of Baby Boom Consumer Products, Inc. (the “Acquisition”), for a purchase price of $18.0 million in cash, subject to a dollar-for-dollar adjustment to the extent that the working capital at cl…

• The Company makes its annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act available free of charge on its website at www.crowncrafts.com as soon as reasonabl…

Text added vs the prior filing · source: 10-K · 2026-06-24

• The Company's business is worldwide in scope, and political instability, civil unrest, or the deterioration of the political, economic, or social situation or changes to trade policy or the breakdown of trade relations with the United States in a country in which the Company has significant manufact…

• The Company sources its products primarily from foreign contract manufacturers, with the largest concentration being in China. During 2025, the U.S. administration issued executive orders directing the United States to impose new tariffs on imports from several nations, including China. The addition…

• Global trade policy continues to evolve and the ultimate impact of recent developments with respect to U.S. tariffs is unclear. On February 20, 2026, the U.S. Supreme Court ruled that tariffs imposed under IEEPA were not authorized by the statute and were deemed illegal. Following the Supreme Court’…

• Any increased trade barriers or restrictions on global trade imposed by the United States, or further retaliatory trade measures or currency controls taken by other countries in response, could further adversely affect the Company's business, financial condition and results of operations.

• We are currently experiencing significant geopolitical instability and armed conflicts in multiple regions of the world, including the ongoing conflict involving Russia and Ukraine, armed conflict and tensions involving Iran in the Middle East, increasing military and political tensions involving Ch…

Text removed vs the prior filing · source: 10-K · 2025-06-25

• The Company sources its products primarily from foreign contract manufacturers, with the largest concentration being in China. The current U.S. administration has issued executive orders directing the United States to impose new tariffs on imports from several nations, including China. The new tarif…

• Mounting terrorist activity, ongoing wars and violence in the Middle East and Ukraine, the potential for the escalation of China’s aggression towards Taiwan and the increasingly erratic behavior of North Korea have resulted in growing geopolitical tensions. Nearly all nations have felt the effects o…

• Significant increases in freight costs and the price of raw materials that are components of the Company’s products, including cotton, oil and labor, could adversely affect the amounts that the Company must pay its suppliers for its finished goods. Additionally, U.S. government imposed tariffs on ce…

Text added vs the prior filing · source: 10-K · 2026-06-24

• Sales decreased to $82.3 million for the fiscal year ended March 29, 2026, compared with $87.3 million in the fiscal year ended March 30, 2025, a decrease of $5.0 million, or 5.7%. Sales of bedding and diaper bags decreased by $6.1 million, and sales of bibs, toys and disposable products increased b…

• Gross profit decreased by $1.2 million from the prior year reflecting a margin of 24.4% of net sales for the fiscal years ended March 30, 2026 and March 29, 2025. The primary cause of this decrease in gross profit relates to increased tariff costs associated with products imported from China.

• Marketing and administrative expenses increased by $289 thousand and increased from 21.4% of net sales for fiscal year 2025 to 23.1% of net sales for fiscal year 2026. Advertising costs increased $467,000 from the prior year.

• Other income increased $2.6 million from the fiscal year ended March 30, 2025 to the fiscal year ended March 29, 2026. The increase is primarily due to $2.5 million, received during the third quarter of fiscal year 2026, in proceeds from certain claims filed by the Company under a representations an…

• The Company’s provision for income taxes includes all currently payable federal and state taxes and is based upon the Company’s annual effective tax rate (“ETR”). The Company’s provision for income taxes for the fiscal years ended March 29, 2026 and March 30, 2025 are based upon an annual ETR of 30.…

Text removed vs the prior filing · source: 10-K · 2025-06-25

• Sales decreased to $87.3 million for the fiscal year ended March 30, 2025, compared with $87.6 million in the fiscal year ended March 31, 2024, a decrease of $382,000, or 0.4%. Sales of bedding and diaper bags increased by $9.0 million, and sales of bibs, toys and disposable products decreased by $9…

• Gross profit decreased by $1.7 million and decreased from 26.2% of net sales for the fiscal year ended March 31, 2024 to 24.4% of net sales for the fiscal year ended March 30, 2025. This decrease in the gross profit amount for the current year was due to an increase in royalty expense primarily resu…

• Marketing and administrative expenses increased by $2.6 million and increased from 18.4% of net sales for fiscal year 2024 to 21.4% of net sales for fiscal year 2025. The current year period includes $244,000 associated with the closure of the Company’s subsidiary in the United Kingdom and $1.2 mill…

• The Company’s provision for income taxes is based upon an annual effective tax rate (“ETR”) on continuing operations, which was 25.1% and 21.4% for the fiscal years ended March 30, 2025 and March 31, 2024, respectively. The ETR on continuing operations combined with certain discrete income tax charg…

• The Company’s financial results are closely tied to sales to the Company’s top two customers, which represented approximately 66% of the Company’s gross sales in fiscal year 2025. A significant downturn experienced by either or both of these customers could lead to decreased sales.

Text added vs the prior filing · source: 10-K · 2026-06-24

• The U.S. government has tariffs on imports from certain countries, including China. During 2025, the U.S. government increased tariffs which increased the cost of the products the Company sources from China and affected shipments from the Company’s Chinese-based suppliers. Some of these tariffs, the…