Form 8-K
8-K — CROWN CRAFTS INC
Accession: 0001437749-26-021497
Filed: 2026-06-24
Period: 2026-06-24
CIK: 0000025895
SIC: 2211 (BROADWOVEN FABRIC MILLS, COTTON)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — crws20260617_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ex_978562.htm)
GRAPHIC (blog.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — FORM 8-K
8-K (Primary)
Filename: crws20260617_8k.htm · Sequence: 1
crws20260617_8k.htm
false
0000025895
0000025895
2026-06-24
2026-06-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):June 24, 2026
Crown Crafts, Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-7604
58-0678148
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
8184 Highway 44, Gonzales, LA
70737
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:(225) 647-9100
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.01 per share
CRWS
Nasdaq Capital Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On June 24, 2026, Crown Crafts, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and full year of fiscal year 2026, which ended March 29, 2026. A copy of that press release is attached hereto as Exhibit 99.1.
The information in this Item 2.02 and in Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. The information in this Item 2.02 and in Exhibit 99.1 attached hereto shall not be incorporated by reference into any registration statement or document pursuant to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits
99.1
Press Release dated June 24, 2026.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
CROWN CRAFTS, INC.
Date: June 24, 2026
/s/ Claire K. Spencer
CLAIRE K. SPENCER
Vice President and Chief Financial Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ex_978562.htm · Sequence: 2
ex_978562.htm
Exhibit 99.1
Crown Crafts Announces Financial Results for Fourth Quarter
and Full Year Fiscal 2026
Gonzales, Louisiana – June 24, 2026, Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) a producer, designer, and distributor of infant, toddler, and juvenile consumer products, today reported results for the fourth quarter and full year fiscal 2026, which ended March 29, 2026.
Fourth Quarter Fiscal 2026 Summary
●
Net sales of $22.4 million compared to $23.2 million in the prior-year quarter
●
Gross profit margin increased to 22.9% compared to 18.3% in the prior-year quarter
●
Net income of $0.3 million increased from a net loss of $10.8 million in the prior-year quarter
●
Subsequent to the quarter, relaunched Manhattan Toy brand’s Groovy Girls, an iconic line of soft fashion dolls
●
Declared a quarterly dividend of $0.08 per share on Series A common stock
“We completed our fiscal year with another quarter of solid results reflecting the strength of our many exciting brands and the hard work of our talented team,” said Olivia Elliott, President and Chief Executive Officer. “We drove improved gross margins and generated more than $8 million of operating cash flow during the fiscal year, through strategic pricing, a more favorable mix of higher-margin products, and ongoing spending discipline, while the operating environment continued to be challenging. In May, we successfully relaunched Manhattan Toy’s Groovy Girls which reflects our ongoing internal focus on new product development. Looking ahead to the new fiscal year, we’re confident in our positioning and ability to capitalize on any improvement in consumer demand, and we will continue our efforts with respect to creative product development and internal efficiencies as we seek to further enhance long-term stockholder value.”
Fourth Quarter Fiscal 2026 Results
Net sales were $22.4 million for the three-month period ended March 29, 2026, compared to $23.2 million for the three-month period ended March 30, 2025. Gross profit was $5.1 million, up from $4.2 million in the prior-year period, reflecting a gross margin on net sales of 22.9% which improved by 460 basis points from 18.3% for the same period in fiscal 2025.
Marketing and administrative expense was held approximately flat relative to the prior-year fourth quarter at $4.6 million, and net income improved to $0.3 million, or $0.03 per diluted share, up from a net loss of $10.8 million, or $1.04 per diluted share in the prior-year fourth quarter, which had included a non-cash goodwill impairment charge of $13.8 million.
Quarterly Cash Dividend
The Board of Directors declared a quarterly cash dividend on the Company’s Series A common stock of $0.08 per share, which will be paid on July 2, 2026 to stockholders of record at the close of business on June 11, 2026.
Conference Call
The Company will host a teleconference today at 8:00 a.m. CT to discuss results. Interested individuals may join the teleconference by dialing (844) 539-3703 or (412) 652-1273 and asking to join the Crown Crafts, Inc. call. The teleconference can also be accessed in listen-only mode by visiting the Company’s website at www.crowncrafts.com. The financial information to be discussed during the teleconference may be found on the investor relations portion of the Company’s website after earnings are released.
A telephone replay of the teleconference will be available one hour after the call through July 8, 2026. To access the replay, dial (844) 512-2921 in the United States or (412) 317-6671 from international locations and enter replay access code 13760859.
About Crown Crafts, Inc.
Founded in 1957, Crown Crafts, Inc. designs, markets, and distributes infant, toddler, and juvenile consumer products including infant bedding, toddler bedding, diaper bags, bibs, toys, and disposable products. The Company primarily operates through its wholly owned subsidiaries, NoJo Baby & Kids, Inc. and Sassy Baby, Inc., which market a variety of infant, toddler, and juvenile products under Company-owned trademarks (Sassy®, NoJo®, Manhattan Toy®, Baby Boom® and Neat Solutions®), as well as licensed collections and exclusive private label programs. Sales are made directly to retailers such as mass merchants, large chain stores, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, wholesale clubs, internet-based retailers and direct-to-consumers through the Company’s websites. For more information, visit www.crowncrafts.com.
Forward-Looking Statements
The foregoing contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s current expectations, projections, estimates and assumptions. Words such as “expects,” “believes,” “anticipates” and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. These risks include, among others, general economic conditions, including the impact of increased U.S. tariffs and any retaliatory measures by impacted exporting countries, the Company’s ability to mitigate the impact of such tariffs, changes in interest rates, in the overall level of consumer spending and in the price of oil, cotton and other raw materials used in the Company’s products, changing competition, changes in the retail environment, the Company’s ability to successfully integrate newly acquired businesses, the level and pricing of future orders from the Company’s customers, the extent to which the Company’s business is concentrated in a small number of customers, the Company’s dependence upon third-party suppliers, including some located in foreign countries, customer acceptance of both new designs and newly-introduced product lines, actions of competitors that may impact the Company’s business, disruptions to transportation systems or shipping lanes used by the Company or its suppliers, and the Company’s dependence upon licenses from third parties. Reference is also made to the Company’s periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company’s results of operations and financial condition. The Company does not undertake to update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise.
Contact:
Claire Spencer
Vice President and Chief Financial Officer
Investor@crowncrafts.com
CROWN CRAFTS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE- AND TWELVE-MONTH PERIODS ENDED MARCH 29, 2026 AND MARCH 30, 2025
(amounts in thousands, except per share amounts)
Fiscal Quarter Ended
Fiscal Year Ended
March 29, 2026
March 30, 2025
March 29, 2026
March 30, 2025
Net sales
$
22,376
$
23,227
$
82,266
$
87,250
Cost of products sold
17,249
18,983
62,188
65,985
Gross profit
5,127
4,244
20,078
21,265
Marketing and administrative expenses
4,586
4,582
18,979
18,690
Goodwill impairment charge
-
13,766
-
13,766
Income (loss) from operations
541
(14,104
)
1,099
(11,191
)
Other income (expense):
Interest expense - net of interest income
(194
)
(333
)
(1,044
)
(1,173
)
Loss on sale of property, plant and equipment
-
-
-
(2
)
Other income (expense) - net
(14
)
8
2,583
(47
)
Income (loss) before income tax expense
333
(14,429
)
2,638
(12,413
)
Income tax expense (benefit)
53
(3,642
)
795
(3,057
)
Net income (loss)
$
280
$
(10,787
)
$
1,843
$
(9,356
)
Weighted average shares outstanding:
Basic
10,701
10,401
10,653
10,365
Effect of dilutive securities
-
-
-
-
Diluted
10,701
10,401
10,653
10,365
Basic earnings (loss) per share
$
0.03
$
(1.04
)
$
0.17
$
(0.90
)
Diluted earnings (loss) per share
$
0.03
$
(1.04
)
$
0.17
$
(0.90
)
CROWN CRAFTS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
MARCH 29, 2026 AND MARCH 30, 2025
(amounts in thousands, except share and per share amounts)
March 29, 2026
March 30, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
200
$
521
Accounts receivable - net of allowances of $1,521 and $1,723, respectively
Due from factor
16,280
21,854
Other
2,579
2,654
Inventories
28,365
27,800
Prepaid expenses
2,176
2,474
Total current assets
49,600
55,303
Operating lease right-of-use assets
8,956
12,253
Property, plant and equipment - net of accumulated depreciation of $5,775 and $5,037, respectively
2,011
1,888
Intangible assets - net of accumulated amortization of $11,615 and $10,840, respectively
6,275
7,050
Deferred income taxes
3,657
4,508
Other assets
154
152
Total Assets
$
70,653
$
81,154
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
4,913
$
5,225
Accrued royalties
532
1,507
Dividends payable
952
876
Operating lease liabilities, current
4,198
3,987
Accrued liabilities
1,283
1,920
Current maturities of long-term debt
1,991
1,990
Total current liabilities
13,869
15,505
Non-current liabilities:
Long-term debt
12,132
16,512
Deferred income taxes
-
-
Operating lease liabilities, noncurrent
5,529
9,107
Reserve for unrecognized tax liabilities
310
411
Total non-current liabilities
17,971
26,030
Shareholders' equity:
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at March 29, 2026 and March 30, 2025; Issued 13,674,249 shares at March 29, 2026 and 13,478,402 shares at March 30, 2025
137
135
Additional paid-in capital
59,402
58,637
Treasury stock - at cost - 2,913,962 shares at March 29, 2026 and 2,910,859 shares at March 30, 2025
(15,889
)
(15,880
)
Accumulated deficit
(4,837
)
(3,273
)
Total shareholders' equity
38,813
39,619
Total Liabilities and Shareholders' Equity
$
70,653
$
81,154
GRAPHIC
GRAPHIC
Filename: blog.jpg · Sequence: 7
Binary file (4492 bytes)
Download blog.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 9
v3.26.1
Document And Entity Information
Jun. 24, 2026
Document Information [Line Items]
Entity, Registrant Name
Crown Crafts, Inc.
Document, Type
8-K
Document, Period End Date
Jun. 24, 2026
Entity, Incorporation, State or Country Code
DE
Entity, File Number
1-7604
Entity, Tax Identification Number
58-0678148
Entity, Address, Address Line One
8184 Highway 44
Entity, Address, City or Town
Gonzales
Entity, Address, State or Province
LA
Entity, Address, Postal Zip Code
70737
City Area Code
225
Local Phone Number
647-9100
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common Stock
Trading Symbol
CRWS
Security Exchange Name
NASDAQ
Entity, Emerging Growth Company
false
Amendment Flag
false
Entity, Central Index Key
0000025895
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details
Name:
dei_DocumentInformationLineItems
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration