- Culp, Inc. (CULP, Financial) reported consolidated net sales of $48.8 million for the fourth quarter of fiscal 2025, with mattress fabric sales rising by 5.3%.
- The company recorded a non-GAAP operating loss of $704,000, significantly improving from the previous year's $4.0 million loss.
- Completion of the restructuring plan aims to generate $10.0-$11.0 million in annualized savings, enhancing efficiencies and reducing costs.
Culp, Inc. (CULP), a leading provider of fabrics for bedding and upholstery, announced its financial results for the fourth quarter and full fiscal year ended April 27, 2025. The company reported consolidated net sales of $48.8 million for the quarter, experiencing a slight decrease from last year's $49.5 million. Despite the challenging revenue environment, the mattress fabrics segment saw a 5.3% increase in sales, offset by an 8.9% decrease in upholstery fabric sales.
Culp, Inc. recorded a GAAP consolidated operating loss of $2.2 million for the quarter, which included $1.5 million in restructuring and related expenses. However, the company's non-GAAP operating loss was significantly improved at $704,000 compared to a $4.0 million loss in the previous year. The improvement is attributed to restructuring efforts and efficiency gains.
For the full fiscal year 2025, Culp, Inc. reported consolidated net sales of $213.2 million, a 5.4% decline from the previous year. The company’s restructuring plan, completed with the sale of its Canadian manufacturing facility, is expected to yield $10.0-$11.0 million in annual savings and improve operational performance in fiscal 2026.
Looking ahead, Culp, Inc. is focused on integrating its operating divisions into a unified CULP-branded business to enhance market responsiveness and resource optimization. The extension of its credit facility with Wells Fargo is anticipated to provide added financial flexibility.
