Crown Crafts, shorn of adult bedding, looks to significantly reduce losses

Atlanta — Crown Crafts Inc., the surviving company of a complex two-way split in which the adult bedding business was spun off last month in a sale to former ceo Michael Bernstein, said it expects to record an estimated $3.5 million loss for the quarter ended July 1, a sharp improvement over a year-before loss of $10.9 million.

Sales during the same period declined by 33.2 percent, to $38.9 million form $58.2 million the prior year.

The company provided the sales and earnings snapshot in a filing with the Securities and Exchange Commission requesting a delay in filing the complete 10-Q quarterly earnings report.

The company said it expects to file the complete report by the end of September.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!