Crown Crafts' Q2 gross margin improves on tariff refunds and lower expenses
CRWS•CRWS•CRWS•CRWS•Crown Crafts' fiscal second-quarter gross margin rose to 32.0%, helped by $0.4 million in tariff refunds and lower expenses. Revenue fell year over year to $19.03 million, net income edged up to $1.32 million, and the company declared a $0.03 quarterly dividend.
Crown Crafts reported fiscal second-quarter revenue of $19.03 million and net income of $1.32 million. Gross margin improved to 32.0%, with $0.4 million in tariff refunds contributing to the increase.
Marketing and administrative expenses fell to $4.5 million from $4.7 million in the prior-year period. The company said it is focused on developing higher-margin products and new sales channels and continues work on warehouse consolidation.
Crown Crafts declared a quarterly dividend of $0.03 per share.
