On this page of StockholderLetter.com we present the latest annual shareholder letter from CROWN CRAFTS INC — ticker symbol CRWS. Reading current and past CRWS letters to shareholders can bring important insights into the investment thesis.
ANNUAL REPORT
TO OUR FELLOW STOCKHOLDERS:
KHOLDERS:
Fiscal 2024 was a transitional
onal year for the
company. We started the year on the heels
of acquiring Manhattan Toy
oy and beginning
the integration of the company
mpany as well as
exploring the cross-selling
ng opportunities
made possible by the acquisition.
quisition.
We have successfully completed
mpleted the
brand   s integration into Sassy
assy and the
.8 GSRZIVWMSR MW RIEVP]   RMWLIH  4R XLI 
MWLIH  4R XLI
operations side, we adjusted
ted the brand   s
advertising spending and
d worked through
the excess inventory to substantially
ubstantially
MQTVSZI XLI TVS  XEFMPMX] SJ XLI FVERH 
SJ XLI FVERH
compared to this time last
st year.
;I EPWS GSRXMRYIH XS TVSEGXMZIP] QEREKI XLI MQTEGX 
SJ XLI IGSRSQMG LIEH[MRHW JEGMRK SYV STIVEXMSRW  
ERH SYV GYWXSQIVW  .R  EXMSREV] TVIWWYVIW GSRXMRYI 
XS PMRKIV  VEMWMRK GSWXW JSV QEXIVMEPW ERH PEFSV ERH 
VIHYGMRK XLI HMWGVIXMSREV] MRGSQI SJ GSRWYQIVW  
[LMGL LEW E QSVI QIERMRKJYP MQTEGX SR PS[IV 
MRGSQI LSYWILSPHW  )IWTMXI XLIWI GLEPPIRKIW   
[I [IVI EFPI XS QMRMQM^I XLI MQTEGX SR KVSWW QEVKMR 
F] TVSEGXMZIP] QEREKMRK GSWXW EGVSWW XLI FYWMRIWW  
&W E VIWYPX  [I VITSVXIH ERSXLIV ]IEV SJ TVS  XEFMPMX] 
ERH VIHYGIH SYV HIFX F]      QMPPMSR JVSQ XLI IRH SJ 
  WGEP      
;I EVI ZIV] IRGSYVEKIH F] XLI WXVMHIW 2ERLEXXER 
8S] LEW QEHI SR XLI TVSHYGX HIZIPSTQIRX JVSRX   
(YWXSQIVW LEZI KMZIR ZIV] TSWMXMZI JIIHFEGO SR  
XLI MXIQW ZMI[IH EX VIGIRX IZIRXW ERH XLI] PSSO 
JSV[EVH XS LEZMRK XLIWI TVSHYGXW SR XLIMV WLIPZIW  
8LIWI RI[ HIWMKRW I\TERH SYV S  IVMRKW EGVSWW 
XLI XS] GEXIKSV]  [LMGL RS[ VITVIWIRXW XLI PEVKIWX 
TSVXMSR SJ WEPIW EGVSWW SYV TSVXJSPMS  ;I TPER XS 
PIZIVEKI SYV PSRK WXERHMRK VIPEXMSRWLMTW [MXL QENSV 
VIXEMPIVW ERH WTIGMEPX] WXSVIW XS KEMR WLIPJ WTEGI ERH 
TSWMXMSR SYV FVERHW JSV JYXYVI KVS[XL 
1SSOMRK ELIEH XS   WGEP       [I [MPP GSRXMRYI XS 
QEREKI XLI QEGVSIGSRSQMG GLEPPIRKIW JEGMRK SYV 
FYWMRIWW ERH SYV GSRWYQIVW ERH I\TERH XLI TVSHYGX 
S  IVMRK EGVSWW SYV FVERHW  ;I FIPMIZI [I EVI [IPP 
TSWMXMSRIH JSV [LIR XLI IGSRSQ] MQTVSZIW ERH SYV 
WXVSRK FEPERGI WLIIX [MPP EPPS[ YW XS FI STTSVXYRMWXMG 
WLSYPH E JEZSVEFPI EGUYMWMXMSR STTSVXYRMX] FIGSQI 
EZEMPEFPI XLEX GER WXVIRKXLIR SYV I\MWXMRK GEXIKSVMIW  
. [SYPH PMOI XS XLERO SYV XIEQ JSV XLIMV I  SVXW SZIV 
XLI TEWX ]IEV  ERH SYV GYWXSQIVW JSV XLIMV GSRXMRYMRK 
WYTTSVX  ;I PSSO JSV[EVH XS YTHEXMRK ]SY SR SYV 
TVSKVIWW XLVSYKLSYX XLI ]IEV ERH XLERO ]SY  SYV 
WLEVILSPHIVW  JSV ]SYV GSRXMRYIH WYTTSVX 
 MRGIVIP]  
4PMZME *PPMSXX 
5VIWMHIRX ERH (LMIJ *\IGYXMZI 4  GIV
 • shareholder letter icon 7/5/2024 Letter Continued (Full PDF)
 • stockholder letter icon 7/7/2023 CRWS Stockholder Letter
 • stockholder letter icon More "Textiles & Apparel" Category Stockholder Letters
 • Benford's Law Stocks icon CRWS Benford's Law Stock Score = 63


CRWS Shareholder/Stockholder Letter Transcript:

ANNUAL REPORT

TO OUR FELLOW STOCKHOLDERS:
KHOLDERS:
Fiscal 2024 was a transitional
onal year for the
company. We started the year on the heels
of acquiring Manhattan Toy
oy and beginning
the integration of the company
mpany as well as
exploring the cross-selling
ng opportunities
made possible by the acquisition.
quisition.
We have successfully completed
mpleted the
brand   s integration into Sassy
assy and the
.8 GSRZIVWMSR MW RIEVP]   RMWLIH  4R XLI 
MWLIH  4R XLI
operations side, we adjusted
ted the brand   s
advertising spending and
d worked through
the excess inventory to substantially
ubstantially
MQTVSZI XLI TVS  XEFMPMX] SJ XLI FVERH 
SJ XLI FVERH
compared to this time last
st year.
;I EPWS GSRXMRYIH XS TVSEGXMZIP] QEREKI XLI MQTEGX 
SJ XLI IGSRSQMG LIEH[MRHW JEGMRK SYV STIVEXMSRW  
ERH SYV GYWXSQIVW  .R  EXMSREV] TVIWWYVIW GSRXMRYI 
XS PMRKIV  VEMWMRK GSWXW JSV QEXIVMEPW ERH PEFSV ERH 
VIHYGMRK XLI HMWGVIXMSREV] MRGSQI SJ GSRWYQIVW  
[LMGL LEW E QSVI QIERMRKJYP MQTEGX SR PS[IV 
MRGSQI LSYWILSPHW  )IWTMXI XLIWI GLEPPIRKIW   
[I [IVI EFPI XS QMRMQM^I XLI MQTEGX SR KVSWW QEVKMR 
F] TVSEGXMZIP] QEREKMRK GSWXW EGVSWW XLI FYWMRIWW  
&W E VIWYPX  [I VITSVXIH ERSXLIV ]IEV SJ TVS  XEFMPMX] 
ERH VIHYGIH SYV HIFX F]      QMPPMSR JVSQ XLI IRH SJ 
  WGEP      
;I EVI ZIV] IRGSYVEKIH F] XLI WXVMHIW 2ERLEXXER 
8S] LEW QEHI SR XLI TVSHYGX HIZIPSTQIRX JVSRX   
(YWXSQIVW LEZI KMZIR ZIV] TSWMXMZI JIIHFEGO SR  
XLI MXIQW ZMI[IH EX VIGIRX IZIRXW ERH XLI] PSSO 
JSV[EVH XS LEZMRK XLIWI TVSHYGXW SR XLIMV WLIPZIW  
8LIWI RI[ HIWMKRW I\TERH SYV S  IVMRKW EGVSWW 
XLI XS] GEXIKSV]  [LMGL RS[ VITVIWIRXW XLI PEVKIWX 
TSVXMSR SJ WEPIW EGVSWW SYV TSVXJSPMS  ;I TPER XS 
PIZIVEKI SYV PSRK WXERHMRK VIPEXMSRWLMTW [MXL QENSV 
VIXEMPIVW ERH WTIGMEPX] WXSVIW XS KEMR WLIPJ WTEGI ERH 
TSWMXMSR SYV FVERHW JSV JYXYVI KVS[XL 
1SSOMRK ELIEH XS   WGEP       [I [MPP GSRXMRYI XS 
QEREKI XLI QEGVSIGSRSQMG GLEPPIRKIW JEGMRK SYV 
FYWMRIWW ERH SYV GSRWYQIVW ERH I\TERH XLI TVSHYGX 
S  IVMRK EGVSWW SYV FVERHW  ;I FIPMIZI [I EVI [IPP 
TSWMXMSRIH JSV [LIR XLI IGSRSQ] MQTVSZIW ERH SYV 
WXVSRK FEPERGI WLIIX [MPP EPPS[ YW XS FI STTSVXYRMWXMG 
WLSYPH E JEZSVEFPI EGUYMWMXMSR STTSVXYRMX] FIGSQI 
EZEMPEFPI XLEX GER WXVIRKXLIR SYV I\MWXMRK GEXIKSVMIW  
. [SYPH PMOI XS XLERO SYV XIEQ JSV XLIMV I  SVXW SZIV 
XLI TEWX ]IEV  ERH SYV GYWXSQIVW JSV XLIMV GSRXMRYMRK 
WYTTSVX  ;I PSSO JSV[EVH XS YTHEXMRK ]SY SR SYV 
TVSKVIWW XLVSYKLSYX XLI ]IEV ERH XLERO ]SY  SYV 
WLEVILSPHIVW  JSV ]SYV GSRXMRYIH WYTTSVX 
 MRGIVIP]  
4PMZME *PPMSXX 
5VIWMHIRX ERH (LMIJ *\IGYXMZI 4  GIV



shareholder letter icon 7/5/2024 Letter Continued (Full PDF)
 

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