Crown Crafts down as weak consumer spending leads to lower Q4 results

Crown Crafts

22/06/2023 14:53

** Shares of toy maker Crown Crafts  CRWS.O  fall as much as
3.6% to a month's low of $5.16
    ** Co reports lower sales and profit from a year ago hurt by
lower consumer spending trends and excess inventory levels
    ** Q4 sales came in at $21.6 mln, compared with $25.7 mln a
year ago
    ** CRWS also posts a net income of $828,000, or 8 cents per
share in Q4, while it reported $2.4 mln, or 24 cents per share
previously
    ** Stock last down 2% and it has fallen 1.5% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))