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Crown Crafts, Inc. (CRWS) operates in the consumer products industry, focusing on the infant, toddler, and juvenile market segments. The company designs, manufactures, and sells a variety of products aimed at young children and their caregivers. These products include bedding, blankets, toys, and accessories, which are marketed under both company-owned and licensed trademarks.
- Bibs, Toys, and Disposable Products - Offers a range of bibs, developmental and bath toys, and disposable items for infants and toddlers.
- Bedding, Blankets, and Accessories - Provides infant and toddler bedding, blankets, swaddle blankets, and related accessories.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Olivia W. Elliott [June 28 ExecutiveBoard | President and Chief Executive Officer | Olivia W. Elliott is the CEO of Crown Crafts, Inc. as of March 1, 2022. She previously served as Vice President and Chief Financial Officer from September 2008 and as President and Chief Operating Officer from January 2021. | View Report → | |
Craig J. Demarest [June 28 Executive | Vice President and Chief Financial Officer | Craig J. Demarest serves as the Vice President and Chief Financial Officer at Crown Crafts, Inc. as of June 28, 2024, and also holds the roles of Principal Financial Officer and Principal Accounting Officer. | ||
Donna E. Sheridan [June 28 Executive | President and Chief Executive Officer of NoJo Baby & Kids, Inc. | CEO of NoJo Baby & Kids, Inc. since January 18, 2019 ( ). Previously held senior leadership roles at Lambs & Ivy and Disney Consumer Products ( ). | ||
Donald Ratajczak [June 28 Board | Director | Donald Ratajczak has served as Director at Crown Crafts, Inc. since 2001. He is also the Chair of the Audit Committee and a member of the Compensation, Nominating and Governance, and Capital Committees, demonstrating his expertise in corporate governance and financial oversight. | ||
Michael Benstock [June 28 Board | Director | Chairman of the Board at Superior Group of Companies; President and Chief Executive Officer at Superior Group of Companies | Michael Benstock has served as a Director at CRWS, where he is also a member of the Audit, Compensation, and Nominating and Governance Committees since May 1, 2023. He brings decades of leadership experience from his ongoing roles as Chairman of the Board and President & Chief Executive Officer at Superior Group of Companies since February 2023 and October 24, 2003 respectively. | |
Patricia Stensrud [June 28 Board | Class III Director | Managing Director, Avalon Securities LLC; Founder and Managing Partner, Hudson River Partners, LLC | Patricia Stensrud has served as a Class III Director at CRWS since 2011, bringing extensive experience in the consumer goods and apparel industries to the Board. | |
Zenon S. Nie [June 28 Board | Chairman of the Board | Chairman of the Board, President, and Chief Executive Officer of CEO Advisory Board LLC ; Operating Partner at Tri-Artisan Partners | Zenon S. Nie has served as Chairman of the Board at Crown Crafts, Inc. since May 1, 2022. He has been with the company since 2001 and previously served as Lead Director from August 2009. |
- Given the decision to choose between the West Coast and East Coast warehouses, can you detail the specific cost, lead time, and freight risk considerations driving your leaning toward the West Coast option, and confirm the decision timeline?
- With the noticeable decline in Manhattan Toy holiday sales, what concrete strategies are you implementing to restore brand momentum and capture full-price sales, especially in light of competitive pressure from lower-priced alternatives?
- Considering the modest revenue contribution from the Baby Boom acquisition and the associated integration costs, how do you plan to enhance synergies and validate this acquisition's long-term value for the company?
- With the immediate imposition of a 10% tariff on Chinese imports, what are the specific measures you’re taking on a PO-by-PO basis to secure price rollbacks, and how do you anticipate this impacting future margins?
- In light of the decline in online toy sales, what targeted initiatives—such as increased advertising spend or revised marketing strategies—are being executed to reverse this trend and boost online channel performance?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Walmart Inc. | Ongoing transactions (no long-term agreements) | All | 42% of FY2024 revenue (~$36.8M) ; 51% of FY2023 revenue (~$38.3M) |
Amazon.com, Inc. | Ongoing transactions (no long-term agreements) | All | 19% of FY2024 revenue (~$16.6M) ; 20% of FY2023 revenue (~$15.0M) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Baby Boom Consumer Products, Inc. | 2024 | Crown Crafts, Inc. acquired Baby Boom Consumer Products, Inc. on July 19, 2024 for $18.0 million in cash, subject to working capital adjustments and escrow deposits, using financing from an $8.0 million term loan and an enhanced revolving credit facility. The deal, executed through its subsidiary NoJo Baby & Kids, Inc., expanded Crown Crafts’ presence in toddler bedding and diaper bags, leveraging tangible assets and intangible licensing relationships. |
Manhattan Toy | 2024 | Crown Crafts, Inc. acquired Manhattan Group, LLC (and its subsidiary Manhattan Toy Europe Limited) on March 17, 2023 for a final adjusted cost of $16.9 million, using available cash and borrowings, to strategically bolster its toy category—which grew to account for nearly 50% of overall sales—and later merged the operations into its Sassy Baby subsidiary on April 1, 2024. |
Recent press releases and 8-K filings for CRWS.
- Reported net sales of $23.3 million (a slight decline from $23.8 million due in part to the integration of the Baby Boom acquisition contributing $3.8 million) with net income of $893K, gross profit of $6.1 million, and a gross margin of 26.1% (vs. 27%) .
- Declared a quarterly cash dividend of $0.08 per share to be paid on April 4, 2025, reflecting its commitment to shareholders .
- Noted an increase in operating cash flow to $7 million YTD, along with borrowings rising to $20.9 million for acquisition funding, while the cash balance strengthened to $1.1 million .
- Outlined warehouse relocation plans and immediate supplier price adjustments to counter a 10% tariff on Chinese imports, underscoring ongoing operational strategies .
- Introduced new product initiatives, including an updated doll line and refreshed Manhattan Toy offerings, signaling a strategic push in product innovation .
- Scheduled a teleconference to discuss these Q3 2025 results and outlook amid a challenging economic environment .