Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 92

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 2
Chunk 92
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 28, 2024, represents right of use assets of $1.1 million and $545,000 located in Haiti and Canada, respectively.  

Assets Held for Sale 

As of January 26, 2025, and in connection with actions described above in “Restructuring Activities,” we classified a building and certain equipment relating to our Canadian operations in Quebec, Canada, as held for sale. Refer to Note 8 of the consolidated financial statements for further details.

Upholstery Fabrics Segment

Net Sales

    Three Months Ended

    (dollars in thousands)
     
    January 26,2025

    January 28,2024

    % Change

    Non-U.S. Produced
     
    $
    20,291

    86
    %
     
    $
    28,425

    94
    %

    (28.6
    )%

    U.S. Produced

    3,320

    14
    %

    1,972

    6
    %

    68.4
    %

    Total
     
    $
    23,611

    100
    %
     
    $
    30,397

    100
    %

    (22.3
    )%

    Nine Months Ended

    (dollars in thousands)
     
    January 26,2025

    January 28,2024

    % Change

    Non-U.S. Produced
     
    $
    68,000

    88
    %
     
    $
    77,187

    91
    %

    (11.9
    )%

    U.S. Produced

    9,672

    12
    %

    7,998

    9
    %

    20.9
    %

    Total
     
    $
    77,672

    100
    %
     
    $
    85,185

    100
    %

    (8.8
    )%

Upholstery fabrics sales decreased 22.3% in the third quarter of fiscal 2025 compared to the prior-year period. Upholstery fabrics sales decreased 8.8% in the first nine months of fiscal 2025 compared to the first nine months of fiscal 2024. While we were encouraged to see sales growth in certain channels of our upholstery fabrics