Crown Crafts, the Gonzales-based designer and distributor of infant and toddler products, lowered its outlook for the current fiscal year. The company says it now expects net sales between $91 million and $93 million for the year, instead of the $95 million it forecast earlier. The company blamed the change on shipment delays by one of its major retail customers to adjust inventory levels. Crown Crafts’ current fiscal year ends April 3. Crown Crafts also says earnings per share will be between 56 to 59 cents per diluted share because of higher raw material and labor costs for products made in Asia. Earlier, the company projected earnings of 64 cents per share.
Crown Crafts lowers outlook
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