Every material Form 8-K CROWN CRAFTS INC has filed with the SEC since June 24, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Crown Crafts' Audit Committee approved dismissing KPMG LLP as independent auditor effective August 27, 2026, and engaging Grant Thornton LLP for the fiscal year ending March 28, 2027, following a competitive proposal process. KPMG's audit reports for fiscal 2025 and 2026 contained no adverse opinion, disclaimer, or qualification, but the filing discloses one reportable event: a material weakness in controls over review and approval of manual journal entries, which the company says was remediated as of March 29, 2026.
Audit Committee approved the change on August 27, 2026, after a competitive proposal process.
KPMG's audit reports for fiscal years ended March 29, 2026 and March 30, 2025 had no adverse opinion, disclaimer, or qualification.
Material weakness first reported in the 10-K filed June 25, 2025 was reported as remediated as of March 29, 2026, in the 10-K filed June 24, 2026.
KPMG's letter to the SEC dated August 31, 2026 is filed as Exhibit 16.1.
Crown Crafts reported first-quarter fiscal 2027 net sales of $16.8 million and net income of $2.1 million, compared with a net loss of $1.1 million a year earlier. Gross profit was helped by $3.7 million in tariff refunds, and the Board declared a $0.03 per share quarterly dividend. Stockholders also approved an amended 2021 Incentive Plan that raises the share reserve to 2,450,000 shares.
Net sales rose to $16.8 million from $15.5 million in the prior-year quarter ended June 29, 2025.
Net income was $2.1 million, or $0.19 per share, versus a net loss of $1.1 million, or $0.10 per share, a year earlier.
Gross profit included $3.7 million in tariff refunds; excluding refunds, gross margin was 25.6%, up 290 basis points year over year.
The $0.03 per share dividend is payable October 2, 2026 to holders of record on September 11, 2026.
Crown Crafts reported fourth-quarter fiscal 2026 net income of $0.3 million, or $0.03 per diluted share, compared with a net loss of $10.8 million a year earlier, which included a $13.8 million goodwill impairment charge. Net sales fell to $22.4 million from $23.2 million, and for the full year, net sales were $82.3 million compared with $87.3 million.
Q4 fiscal 2026 net sales $22.4 million vs. $23.2 million; gross margin 22.9% vs. 18.3%
Q4 net income $0.3 million ($0.03 per diluted share) vs. net loss $10.8 million ($1.04 per share) in the prior-year quarter
Full-year fiscal 2026 net income $1.8 million ($0.17 per diluted share) vs. net loss $9.4 million; quarterly dividend of $0.08 per share payable July 2, 2026
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