Baby products retailer Crown Crafts's Q1 sales fall, loss widens due to increased tariff costs
Overview
Crown Crafts fiscal Q1 net sales fell 4.5% yr/yr, impacted by tariffs
Net loss widened to $1.1 mln, affected by increased tariff costs
Baby Boom acquisition added $2.1 mln in net sales for fiscal Q1
Result Drivers
TARIFF IMPACT - Increased tariffs on products imported from China led to higher costs and reduced gross profit
BABY BOOM ACQUISITION - Acquisition added $2.1 mln to net sales, partially offsetting declines
INVENTORY SHORTAGES - Strategy to minimize tariff impact resulted in inventory shortages, affecting sales
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $15.48 mln |
|
Q1 EPS |
| -$0.1 |
|
Q1 Net Income |
| -$1.10 mln |
|
Q1 Gross Profit |
| $3.52 mln |
|
Q1 Operating Income |
| -$1.20 mln |
|
Q1 Pretax Profit |
| -$1.38 mln |
|
Press Release: ID:nGNX2DMqHz
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