CSS Industries, Inc. Revises Earnings Guidance for the Year 2019 and Provides Earnings Guidance for the Year 2020
May 08, 2019 at 04:15 pm EDT
Share
CSS Industries, Inc. revised revenue guidance for the year 2019 and provides revenue guidance for the year 2020. For the year 2019, the company expects net sales to be in the range of $381 million to $383 million, resulting in year over year growth of 5% to 6%, against previous guidance of $390 million to $400 million. The driver of the growth will be the full year impact of the Simplicity acquisition, partially offset by a decline in the Company's base business, specifically weak replenishment sales within Craft and Gift.
For the year 2020, the company expects net sales to be in the range of $355 million to $365 million resulting in year-over-year erosion of -4% to -7%, all driven by declines within its core business, partially offset by flat to moderate sales growth in company's Simplicity and McCall businesses.
CSS Industries, Inc. is a United States-based consumer products company. The Company is engaged in development, manufacture, procurement, distribution and sale of various categories of products include seasonal, which includes holiday gift packaging items, such as ribbon, bows, greeting cards, bags, tags and gift card holders, in addition to specific holiday-themed decorations, accessories, and activities; gift, which includes products designed to celebrate certain life events or special occasions, such as weddings, birthdays, anniversaries, graduations, or the birth of a child, and its offered products include ribbons and bows, floral accessories, infant products, journals, gift card holders, all occasion boxed greeting cards, memory books, scrapbooks, stationery and other items; and craft, which includes sewing patterns, ribbons and trims, buttons, knitting needles, needle arts and kids crafts.