Crown Crafts results weighed down by costs
Staff Staff -- Home Textiles Today, August 17, 2011
Gonzales, La. - Rising costs of raw materials, labor and transportation pushed down Crown Crafts' profit during the company's first quarter even though sales gained.
Net income fell 27% to $530,000, or 5 cents per share. Sales rose 2% to $17.5 million.
"Net sales continued to improve as a result of our innovative and popular new designs in bedding, blankets and accessories, combined with our aggressive promotional and marketing activities in this product category," said Randall Chestnut, chairman, president and ceo. "We also continued our progress in growing sales of company-branded products."
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