Culp, Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal 2024
May 01, 2024 at 09:10 pm
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Culp, Inc. provided earnings guidance for the fourth quarter of fiscal 2024. For the quarter, the company expected consolidated net sales for the fourth quarter are now expected to be approximately 19.0% lower as compared to the fourth quarter of fiscal 2023. The company also now expected a consolidated operating loss for the fourth quarter of fiscal 2024 in the range of $4.2 million to $4.7 million.
Culp, Inc. is a marketer of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The Company markets a variety of fabrics to its global customer base of bedding and furniture companies, including fabrics produced at the Company's manufacturing facilities and fabrics sourced through other suppliers. The Company operates through two segments. The mattress fabrics segment markets primarily knitted and woven fabrics, as well as sewn covers made from those fabrics, which are used in the production of bedding products, including mattresses, foundations, and mattress sets. The upholstery fabrics segment markets a variety of fabric products that are used principally in the production of residential and commercial upholstered furniture, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, and office seating, as well as window treatment products and installation services for customers in the hospitality and commercial industries.
CULP, INC. 
