1. Crown Crafts, Inc. (NASDAQ:CRWS) Feb 21, 2017
Investment Analysts:
Chuying Wang
Songlin Li

2. Agenda Company Overview Macroeconomic Analysis Industry Overview
Financial Analysis
Financial projection
Valuation
Technical Analysis
Recommendation

3. Crown Crafts Infant Products, Inc.
Company Overview
Crown Crafts, Inc
Crown Crafts Infant Products, Inc.
Hamco, Inc.
Small textile and fabrics manufacturer
100 million retail supplier
Textile manufacutrer
Diversified home products supplier.

4. Company Overview Sales Channel Licensed Products Product Sourcing
Major customers are Wal-Mart (36%) and Toys R Us (25%)
Sales Channel
62% of sales in FY 2016 come from licensed brands, which included 46% of sales from Disney. 38% come from company’s own brand, primarily NoJo and Neat Solutions
Licensed Products
Produced by foreign and domestic manufacturer, with the largest concentration in China
Product Sourcing
Source: FY K Form Business Description.

5. MacroEconomics
Source: IBIS World

7. Industry Overview Textile - Apparel Clothing Industry
Source: IBIS World

8. Industry Overview Consumer Goods Textile - Apparel Clothing Industry
Source: IBIS World

9. Financial Analysis
Source: Capital IQ

10. Financial Analysis

11. Financial Analysis

12. Financial Analysis
Source: Excel Calculation

13. My Concern Is CASH Financial Analysis
Source:

14. Financial Analysis
Velvet bedspreads became its leader niche
Move in Bed comforters market after crisis in 1983
Disney and baby clothing
1967
1970
1980
1995
Add Jacquard woven bedspread
New cotton yarns, designs, entered into luxury market, help company
Source: International Directory of Company Histories, Vol.16 ST. James Press, 1997, History of Crown Crafts, Inc.

15. Financial Forecasting

16. Financial Forecasting

17. Financial Forecasting-----Balance sheet

18. Financial Valuation---DCF

19. Financial Valuation---Sensitivity Analysis

20. Financial Valuation---Comparable Analysis
Source: Capital IQ

21. Tech Analysis
Source: Yahoo Finance Charts Crown Crafts

22. Tech Analysis
Source:

23. Final Recommendation
SELL 1000 shares at market
SELL