Infant apparel and accessories maker Crown Crafts Inc. in Gonzales reported second-quarter fiscal net income of $1.8 million, or 18 cents per share, on net sales of $20.5 million, compared with net income of $725,000, or 7 cents per share, on net sales of $16.5 million for the second quarter of fiscal 2018.
Chairman, President and CEO E. Randall Chestnut cited the 24.8 percent increase in sales, along with improvements in gross margin and net income. He said the company navigated unusually challenging retail conditions over the past 12 months, alluding to the bankruptcy and liquidation of major customer Toys R Us. He said corporate acquisitions, product innovation and new distribution channels are reflected in the second-quarter results.
He said the company is updating its brand identity, having introduced a new Crown Crafts logo, with plans to launch a new website and refreshed digital presence later this year. In addition, two subsidiaries, Crown Crafts Infant Products Inc. and Hamco Inc., are in the process of being rebranded as NoJo Baby & Kids Inc. and Sassy Baby Inc., respectively, to convey the value of the comapny's brands to consumers and retailers.