RICHARDSON, Texas, July 02, 2025 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) today announced the appointment of Laks Lakshmanan to the newly created position of Chief Supply Chain Officer, effective June 16, 2025. With more than 20 years of supply chain leadership experience, Lakshmanan brings deep expertise in network design, integrated planning, cost transformation, and operational excellence, having advised and led initiatives for Fortune 500 consumer and retail companies. Lakshmanan leads Foss ...

Key Takeaways STLA recalls 250,651 U.S. vehicles due to defective side curtain airbags that may not hold pressure. Q1 2025 revenues fell 14% to EUR 35.8B, driven by shipment declines and weak pricing and product mix. Despite North American slowdowns, STLA's European market share hit 17.3% after seven new launches.Stellantis N.V. (STLA) is recalling 250,651 vehicles in the United States because of a defect in the side curtain airbags that may not be properly sealed, per the U.S. National Highway Traffic Sa ...

Core Viewpoint - Crown Crafts, Inc. has faced significant financial challenges in fiscal 2025, including a substantial net loss and declining profitability, primarily due to a goodwill impairment charge and increased operational costs [2][3][7]. Revenue & Profitability Performance - For Q4 fiscal 2025, Crown Crafts reported net sales of $23.2 million, a 2.9% increase from $22.6 million in the prior year [2] - The company experienced a GAAP net loss of $10.8 million, or $1.04 per diluted share, compared to a net income of $1 million, or $0.10 per diluted share, in the previous year [2] - Gross profit fell 18.8% to $4.2 million, with gross margin narrowing to 18.3% from 23.2% due to unfavorable sales mix and tariff-related costs [2] - For the full fiscal year, revenues decreased by 0.4% to $87.3 million from $87.6 million [3] - Adjusted net income was $1.0 million ($0.10 per share), while GAAP net loss was $(9.4) million, or $(0.90) per diluted share, compared to a net income of $4.9 million, or $0.48 per diluted share in the prior year [3] - Gross profit for the full year fell 7.5% to $21.3 million, with gross margin narrowing to 24.4% from 26.2% [3] Key Business Metrics - The company ended the fiscal year with $0.5 million in cash and cash equivalents, down from $0.8 million the previous year [4] - Inventory was reduced by 6.4% to $27.8 million, reflecting a strategy of higher closeout sales [4] - Marketing and administrative expenses increased by 17% in Q4 to $4.6 million from $3.9 million, largely due to the integration of Baby Boom Consumer Products [4] - Borrowings under the credit facility rose to $18.5 million due to the Baby Boom acquisition [4] Management Commentary - CEO Olivia Elliott described fiscal 2025 as a "transitional year," influenced by persistent inflation and reduced consumer discretionary spending [6] - Strategic initiatives such as acquisitions, e-commerce expansion, and cost containment were emphasized for long-term gains [6] - The company remains optimistic about future positioning, highlighting improved retail partnerships and a streamlined product portfolio [6] Factors Influencing Results - The fourth quarter faced multiple headwinds, including lower margins from closeout sales and increased tariffs totaling $324,000 [7] - The most significant impact came from a $13.8 million goodwill impairment charge due to a decline in market capitalization [7] Guidance and Outlook - Crown Crafts did not provide formal financial guidance but acknowledged significant near-term challenges, particularly related to tariffs [9] - The company is exploring various mitigation strategies and reaffirmed its commitment to growth through product and channel expansion [9] Other Developments - During fiscal 2025, Crown Crafts completed the acquisition of Baby Boom Consumer Products, adding new product lines to its portfolio [10] - The company transitioned its European operations to a distributor model to support long-term sales growth [11] - The redesigned "Love, Stella" doll line gained exposure from a Meghan Markle endorsement, highlighting marketing initiatives [11]

Core Viewpoint - Autoliv, Inc. announces the resignation of Chief Financial Officer Fredrik Westin for personal reasons, effective December 31, 2025, unless otherwise agreed [1][2]. Company Overview - Autoliv, Inc. is the global leader in automotive safety systems, developing and marketing protective systems such as airbags and seatbelts for major automotive manufacturers [4]. - The company operates in 25 countries and has 13 technical centers focused on innovation, research, and development [5]. - In 2024, Autoliv's products saved nearly 37,000 lives and reduced over 600,000 injuries [4]. Financial Performance - Autoliv reported sales of $10.4 billion in 2024 [5].

Core Viewpoint - Kandal M Venture Limited has successfully closed its initial public offering, raising $8.0 million by offering 2,000,000 Class A ordinary shares at a price of $4.00 per share, with plans to expand its market reach and enhance production capabilities [1][4]. Company Overview - Kandal M Venture Limited is a contract manufacturer specializing in affordable luxury leather goods, with manufacturing operations based in Cambodia. The company primarily produces various types of handbags and smaller leather goods such as wallets [7]. Offering Details - The initial public offering consisted of 2,000,000 Class A ordinary shares priced at $4.00 each, resulting in gross proceeds of $8.0 million before expenses [1]. - The company has granted underwriters a 45-day option to purchase an additional 300,000 Class A ordinary shares at the offering price [2]. - The offering was conducted on a firm commitment basis, with Dominari Securities LLC as the lead underwriter and Revere Securities LLC as the co-underwriter [3]. Use of Proceeds - The net proceeds from the offering will be utilized for several strategic initiatives, including: - Expanding the customer base by entering key European markets - Enhancing production capacity - Establishing a new design and development center to improve product development capabilities - Providing additional working capital and general corporate purposes [1]. Regulatory Information - A registration statement on Form F-1 was filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on June 23, 2025. The final prospectus was filed on June 25, 2025, and is available on the SEC's website [4].

Core Insights - Volvo Trucks emphasizes its commitment to safety, which has been a core value since the invention of the three-point seat belt in 1959 [1][10] - The company has introduced next-generation VNL and VNR models featuring advanced safety systems aimed at reducing accidents and protecting drivers and passengers [2][3] Safety Innovations - Volvo Trucks is the first in North America to offer integrated side curtain airbags, designed to deploy during rollovers, which account for approximately half of truck occupant fatalities [3] - The new cabs are constructed entirely from high-strength steel, utilizing 33% more ultra-high strength hot stamped steel than previous models to enhance rollover protection [4] - The E-Call emergency response system automatically contacts 911 in serious accidents, sharing the truck's GPS location to facilitate quicker emergency response [5] - An electronic parking brake engages automatically when the truck is in neutral and the driver door is opened, preventing rollaways and stabilizing the truck in case of an accident [6] Advanced Safety Systems - New collision avoidance technologies in the VNL and VNR models can detect vehicles, pedestrians, and cyclists, helping to prevent crashes by alerting drivers to potential hazards [7][18] - These advanced systems act as an additional layer of safety, enhancing the overall protection for drivers and road users [18]

Core Viewpoint - Kandal M Venture Limited has successfully priced its initial public offering (IPO) of 2,000,000 Class A ordinary shares at $4.00 per share, with trading expected to commence on June 25, 2025, under the symbol "FMFC" [1]. Group 1: Offering Details - The IPO is set to close on June 26, 2025, pending customary closing conditions [1]. - The company has granted underwriters a 45-day option to purchase an additional 300,000 Class A ordinary shares at the offering price [2]. - The offering is being conducted on a firm commitment basis, with Dominari Securities LLC as the representative underwriter and Revere Securities LLC as the co-underwriter [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for expanding the customer base into key markets, particularly in Europe [1]. - The funds will also enhance production capacity and establish a new design and development center to improve product development capabilities [1]. - Additional working capital and general corporate purposes will also be funded through the proceeds [1]. Group 3: Company Overview - Kandal M Venture Limited is a contract manufacturer specializing in affordable luxury leather goods, with manufacturing operations based in Cambodia [6]. - The company primarily produces a variety of handbags and smaller leather goods, including wallets [6].

Crown Crafts Inc (CRWS) Q4 2025 Earnings Call June 25, 2025 09:00 AM ET Company Participants Matt Hodges - Managing DirectorOlivia Elliott - CEO, President & DirectorClaire Spencer - Vice PresidentCraig Demarest - CFODouglas Ruth - President Conference Call Participants None - Analyst Operator Good day, and welcome to the Crown Crafts Inc. Fourth Quarter Fiscal Year twenty twenty five Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to a ...

Financial Data and Key Metrics Changes - Fiscal year 2025 total sales were slightly below the previous year due to persistent inflation and consumer pullback on discretionary spending [4] - Fourth quarter net sales increased by 2.9% year-over-year to $23,200,000, driven by strong Baby Boom product sales [8] - Full year net sales for fiscal 2025 were $87,300,000, a slight decrease from $87,600,000 in the prior year [11] - GAAP net loss for the fourth quarter was $10,800,000, primarily due to a $13,800,000 goodwill impairment charge [10] - Adjusted net income for the year was $1,000,000, translating to adjusted diluted earnings per share of $0.10 [12] Business Line Data and Key Metrics Changes - The Baby Boom acquisition contributed $11,900,000 in net sales, but this was offset by declines in legacy business lines [11] - Gross profit margin for the fourth quarter decreased to 18.3% from 23.2% in the prior year, attributed to higher tariffs and increased expenses [9] - Marketing and administrative expenses rose by 17% year-over-year due to increased advertising costs and expenses from the Baby Boom acquisition [10] Market Data and Key Metrics Changes - The company faced challenges due to uncertainty around U.S. tariff policy, impacting sales from imports [4] - The transition to using distributors in Europe is expected to enhance international sales over time [32] Company Strategy and Development Direction - The company is focused on long-term growth through acquisitions and expanding product offerings, including the recent acquisition of Baby Boom Consumer Products [5] - Plans to mitigate tariff impacts include working with manufacturers and retail partners to absorb costs [17] - The company aims to explore product and channel expansions to increase sales and market share [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the economic headwinds affecting consumers and the company, but emphasized steps taken to position for long-term success [16] - The most pressing challenge is navigating the impact of tariffs, with a current expectation of a 30% tariff on goods ordered [17] - Management expressed optimism about future growth opportunities and the integration of acquisitions [16] Other Important Information - Cash flow from operations for 2025 was $9,800,000, an increase from $7,100,000 in the prior year [13] - The company paid $0.32 per share in cash dividends, marking the fifteenth consecutive year of dividend payments [14] Q&A Session Summary Question: Update on warehouse status - The company is still exploring options for the warehouse but has focused on tariffs recently [23] Question: Outcome of the New York Toy Show - The sales and product development team received positive feedback and wrote some orders at the Toy Fair [25] Question: Status of the Stella doll redesign - The new Love Stella line has been well-received, aided by marketing efforts including mentions by Meghan Markle [26] Question: Sales to LEGOLAND - Sales to LEGOLAND increased in fiscal 2025, with expectations to be the only plush supplier in the park soon [29] Question: Development of licensed diaper bags - The company is excited about potential licensed diaper bags but is facing challenges due to tariffs [30] Question: Update on tax credit for baby products - No recent updates on the potential tax credit for parents have been heard [31] Question: Impact of using distributors in Europe - The transition to distributors is expected to positively impact international sales [32] Question: Redesign of the Manhattan Toy website - The redesigned website has improved user experience and is driving more traffic [34]

Ryan Heuser, Co-Founder and Former President of Paul Frank Industries, Is Pura Vida's New CEO LOS ANGELES, June 24, 2025 /PRNewswire/ -- Affiliates of CriticalPoint announced today the acquisition of consumer wearables brand Pura Vida© Bracelets ("Pura Vida") from Vera Bradley, Inc. (NASDAQ: VRA). Under CriticalPoint's ownership and operational expertise, Ryan Heuser, co-founder and former president of Paul Frank Industries ("Paul Frank"), has joined Pura Vida as the company's new chief executive officer, e ...