Highest-materiality recent filing
Culp Q4 revenue up 6% YoY to $51.6M; net loss $0.18/diluted share; full-year loss $0.81
Q4 net sales $51.6M (+6% YoY); net loss $2.2M ($0.18 diluted EPS) vs $2.1M loss prior year.
Culp Q3 fiscal 2026 net loss $3.4M; sales down 8% YoY to $48.0M
Consolidated net sales of $48.0M vs $52.3M a year ago; bedding segment down 5%, upholstery down 12%.
Culp CFO Kenneth Bowling to retire by end of 2026; principal accounting officer Chandler resigns
Kenneth R. Bowling, Culp's EVP, CFO and Treasurer, notified plan to retire at end of 2026 after ~30 years; will assist transition.
Culp Q2 fiscal 2026 net loss narrows to $0.34 per share; bedding sales up 2%
Net sales $53.2M, down 4.5% YoY but up sequentially from $50.7M; net loss $4.3M vs $5.6M prior year.
Culp Q1 FY2026 net loss narrows to $0.02/sh; bedding gross margin improves to 10.5%
Consolidated sales $50.7M (-10% YoY); gross margin 14.3% vs 9.0% prior year.
Culp enters cooperation agreement with 22NW; nominates two new independent directors
22NW agrees to standstill through 2027 annual meeting; ownership capped at 15%.
Culp appoints new COO and CCO, merges divisions, targets $3M in additional annual savings
Mary Elizabeth Hunsberger appointed COO; Thomas Bruno appointed CCO as part of operating model integration.
Culp announces restructuring plan; discontinuing mattress fabrics ops in Quebec
Gradual discontinuation of mattress fabrics manufacturing in Quebec, Canada; equipment relocation to Stokesdale, NC.
Culp enters cooperation agreement with 22NW, adds Alexander B. Jones to board
Board expanded from 8 to 9 directors; Alexander B. Jones appointed effective June 17, 2024.
Culp announces major restructuring; expects Q4 operating loss of $4.2M-$4.7M, sales down 19%
Restructuring includes phasing out Quebec plant, consolidating Haiti operations, reducing mattress fabrics workforce by ~240 (35%).
Culp expects Q3 fiscal 2024 operating loss comparable to Q2's $2.2M loss
Consolidated operating loss for Q3 FY2024 now expected to be similar to $(2.2)M loss in Q2 FY2024.
Culp revises Q2 FY2023 outlook: net sales ~$58M, operating loss $(11.7-12.2)M
Expected Q2 FY2023 net sales ~$58M; consolidated operating loss $(11.7)-(12.2)M, wider than prior guidance.
Culp Home Fashions President Sandy Brown to retire Dec 31; Tommy Bruno hired as EVP, to succeed
Sandy Brown, President of Culp Home Fashions, plans to retire effective December 31, 2022, after 39 years with the company.
Franklin Saxon will cease being a full-time employee and executive officer, remaining as board chairman and strategic advisor.
Culp enters $40M credit facility; extends maturity to June 2025; reports Q4 earnings
Revolving credit facility increased to $40M from $30M; secured by assets; matures June 2025.
Q4 net sales down significantly vs Q4 FY2021; expected operating loss $(6.5)M-$(7.5)M.
Culp lowers Q2 FY22 outlook; expects operating income $1.3M-$1.6M, sales down 11% sequentially
Net sales down ~11% vs Q1 FY22; operating income $1.3M-$1.6M, below prior expectation of flat Q1.
On April 22, 2025, Mary Elizabeth Hunsberger, 50, was appointed by the board of directors (the “Board”) of Culp, Inc. (the “Company”) to serve as Chief Operating Officer of the Company
elected William L. Tyson as a director to fill the vacancy created by the expansion in the size of the Board, effective immediately.
the Board determined Mr. Chumbley's retirement would be effective July 26, 2024
the Board named Mary Beth Hunsberger to succeed Mr. Chumbley as President of the Culp Upholstery Fabrics division effective July 27, 2024
On January 4, 2024, Boyd B. Chumbley, President of the Culp Upholstery Fabrics division, notified the company of his intention to retire from his position in the third quarter of the calendar 2024 year, with the definitive date of such retirement still to be determined.
On May 11, 2023, Thomas B. Gallagher, Jr., Vice President of Finance and principal accounting officer of Culp, Inc. (the “Company”), informed the Company that he will accept a position with another company and resign his position with the Company, effective on or around the middle of July 2023.
On August 30, 2022, Cassandra J. Brown, President of the Culp Home Fashions division, notified the company of her intention to retire from her position effective December 31, 2022.
Effective September 1, 2022, Mr. Saxon’s duties will change such that he is less involved in day to day management, as he will no longer be a full time employee or an executive officer of the Company.
Effective September 1, 2022, Mr. Saxon’s duties will change such that he is less involved in day to day management, as he will no longer be a full time employee or an executive officer of the Company.
Mr. Franklin N. Saxon, Executive Chairman, will no longer serve as co-principal executive officer of the Company
Mr. Robert G. Culp, IV, President and Chief Executive Officer and formerly co-principal executive officer for such purposes, will serve as the sole principal executive officer of the Company
Max materiality 0.85 · Median 0.50 · Most common event earnings