Company: CULP
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0000950170-25-035191
Chunk: 167

Company: CULP INC
Filing Date: 2025-03-07
Form: 10-Q
Item: Item 8
Chunk 167
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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 segment during the quarter, the continued sluggish demand in our residential business driven by what remains a weakened home furnishings industry drove these year-over-year declines in overall sales in the segment. The impacts of this market dynamic were particularly acute in our residential business due to resulting lower ordering activity from a significant customer as it managed its inventory levels to better align with the soft industry demand. We were able to achieve sales increases in other areas of our residential business during the quarter and we saw growth trends in