Crown Crafts, the Gonzales-based designer and distributor of baby items, says its sales dropped by 10% in the quarter as a result of the national recession. The company reported $17.7 million in sales during a three-month period that ended June 28, compared with nearly $19.8 million in sales during the same period a year ago. E. Randall Chestnut, chairman, president and CEO, blamed the sales drop on retailers reducing their inventory and adjusting buying patterns. Crown Crafts had earnings of $538,000, or 6 cents per diluted share, compared with $619,000 or 6 cents per share the year before.
Crown Crafts sales drop
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