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Culp, Inc. - CULP STOCK NEWS

Welcome to our dedicated page for Culp news (Ticker: CULP), a resource for investors and traders seeking the latest updates and insights on Culp stock.

Culp, Inc. (CULP) is a prominent player in the home furnishings market, headquartered at 7209 US-158, Stokesdale, North Carolina, United States. The company specializes in the manufacture, sourcing, and marketing of an extensive range of mattress fabrics and sewn covers for mattresses and box springs, as well as upholstery fabrics and cut-and-sew kits for upholstered furniture production.

Operating through two key segments, Mattress Fabrics and Upholstery Fabrics, Culp, Inc. has firmly established itself in the industry. The Mattress Fabrics segment, also known as Culp Home Fashions, focuses on producing and marketing innovative mattress fabrics and covers to bedding manufacturers. This segment is known for its high-quality jacquard woven fabrics, velvets, micro denier suedes, woven dobbies, knitted fabrics, piece-dyed woven products, and polyurethane leather look fabrics.

The Upholstery Fabrics segment caters to the residential and commercial furniture markets. It offers a wide variety of fabric options, ensuring that it meets the diverse needs of its clients. Culp, Inc. continuously strives to innovate and deliver products that reflect the latest trends and consumer preferences.

In recent years, Culp, Inc. has achieved several significant milestones. The company has expanded its product lines and strengthened its market presence through strategic partnerships and collaborations. These efforts have enhanced its ability to offer customized solutions to its customers, reinforcing its commitment to quality and excellence.

Financially, Culp, Inc. has demonstrated resilience and adaptability. Despite the challenges posed by economic fluctuations, the company has maintained a stable financial position. This stability is attributed to its diversified product portfolio, efficient supply chain management, and a customer-centric approach.

With a forward-looking approach, Culp, Inc. is dedicated to exploring new opportunities for growth and expansion. The company's focus on sustainability and innovation ensures that it remains at the forefront of the home furnishings industry. By prioritizing customer satisfaction and leveraging its expertise, Culp, Inc. continues to build a strong foundation for future success.

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Culp, Inc. (NYSE: CULP) will host a webcast for its Q3 fiscal 2024 results on March 7, 2024. The company is a major player in mattress and upholstery fabrics, serving global clients. The webcast will discuss financial performance and operations, with a press release to follow on March 6, 2024.
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Culp, Inc. (NYSE: CULP) will participate in the Water Tower Research Furniture/Furnishings Virtual Conference 2024 on January 17, 2024. The event will feature presentations by residential and commercial furniture manufacturers, wholesalers, and suppliers, focusing on corporate strategies, competitive strengths, and challenges. The webcast of the Company’s presentation will be led by Iv Culp, president and chief executive officer, and Ken Bowling, executive vice president and chief financial officer, available on the Company’s website. Culp, Inc. is a leading marketer of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture, with manufacturing and sourcing capabilities in the United States, Canada, China, Haiti, Turkey, and Vietnam.
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Culp, Inc. (NYSE: CULP) announced that Mary Beth Hunsberger will be joining the company as Executive Vice President of Culp Upholstery Fabrics, effective January 8, 2024. She brings over two decades of expertise in the home furnishings industry to her new position. The company also announced that it intends for Ms. Hunsberger to succeed Boyd Chumbley in the role of division president in the third quarter of calendar year 2024. Culp, Inc. is one of the world's largest manufacturers and marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.
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Culp, Inc. (NYSE: CULP) reported financial results for the second quarter ended October 29, 2023. Net sales were $58.7 million, up 0.6% from the prior-year period, with mattress fabrics sales up 19.6% and upholstery fabrics sales down 14.9%. Loss from operations was $(2.2) million, compared to $(11.9) million in the prior year. Net loss was $(2.4) million, or $(0.19) per diluted share, compared to $(12.2) million, or $(0.99) per diluted share, for the prior-year period. The company maintained a strong financial position with $15.2 million in cash and no outstanding borrowings.
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Culp, Inc. (NYSE: CULP) will provide an online, real-time webcast and rebroadcast of its Q2 fiscal 2024 conference call on December 5, 2023. The call will review the company’s financial and operating results for the quarter ended October 29, 2023. Culp is a leading marketer of mattress fabrics and upholstery fabrics for residential and commercial furniture, with manufacturing and sourcing capabilities in the US, Canada, China, Haiti, Turkey, and Vietnam.
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Culp, Inc. reports Q1 2024 financial results with net sales of $56.7 million, down 9.5% YoY. Loss from operations was $(3.1) million, improved from $(4.7) million in the prior-year period. Net loss was $(3.3) million, compared to $(5.7) million in the prior-year period. Total cash is $16.8 million with no outstanding borrowings. Adjusted EBITDA was negative $(416,000), better than the prior-year period. CEO expects a better second half performance and a return to operating profitability in fiscal 2024.
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Culp, Inc. to provide webcast of Q1 fiscal 2024 conference call on August 31, 2023
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Culp, Inc. will provide an online webcast and rebroadcast of its Q4 and fiscal 2023 conference call on June 29th. The call will review financial and operating results for the quarter and fiscal year ended April 30th. A press release will be issued on June 28th. Culp is a major marketer of mattress and upholstery fabrics.
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FAQ

What is the current stock price of Culp (CULP)?

The current stock price of Culp (CULP) is $5.47 as of December 20, 2024.

What is the market cap of Culp (CULP)?

The market cap of Culp (CULP) is approximately 66.2M.

What does Culp, Inc. specialize in?

Culp, Inc. specializes in manufacturing, sourcing, and marketing mattress fabrics, sewn covers, and upholstery fabrics for residential and commercial furniture.

Where is Culp, Inc. headquartered?

Culp, Inc. is headquartered at 7209 US-158, Stokesdale, North Carolina, United States.

What are the main segments of Culp, Inc.?

The main segments of Culp, Inc. are Mattress Fabrics (Culp Home Fashions) and Upholstery Fabrics.

What products are offered by the Mattress Fabrics segment?

The Mattress Fabrics segment offers mattress fabrics and covers, including jacquard woven fabrics, velvets, micro denier suedes, woven dobbies, knitted fabrics, piece-dyed woven products, and polyurethane leather look fabrics.

What types of upholstery fabrics does Culp, Inc. market?

Culp, Inc. markets upholstery fabrics for residential and commercial furniture, including jacquard woven fabrics, velvets, micro denier suedes, woven dobbies, knitted fabrics, piece-dyed woven products, and polyurethane leather look fabrics.

How has Culp, Inc. maintained its financial stability?

Culp, Inc. has maintained its financial stability through a diversified product portfolio, efficient supply chain management, and a customer-centric approach.

What recent achievements has Culp, Inc. made?

Culp, Inc. has expanded its product lines, strengthened its market presence through strategic partnerships, and enhanced its ability to offer customized solutions.

What is Culp, Inc.'s approach to sustainability?

Culp, Inc. is dedicated to sustainability and innovation, ensuring that it remains at the forefront of the home furnishings industry.

How does Culp, Inc. cater to customer needs?

Culp, Inc. prioritizes customer satisfaction by offering high-quality, innovative products that reflect the latest trends and consumer preferences.

What is the outlook for Culp, Inc.?

Culp, Inc. is focused on exploring new opportunities for growth and expansion, building a strong foundation for future success.

Culp, Inc.

NYSE:CULP

CULP Rankings

CULP Stock Data

66.19M
11.25M
7.63%
64.31%
0.16%
Textile Manufacturing
Broadwoven Fabric Mills, Cotton
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United States of America
HIGH POINT