Culp, Inc. (the Company) (NYSE:CULP) today announced that it has entered into a cooperation agreement with 22NW, LP, one of the Company's largest shareholders. Pursuant to the agreement, the Company will add Mr. Alexander B. Jones to the board, effectively immediately, and Mr. Jones will serve as a nominee to its slate of directors at the September 2024 Annual Shareholders Meeting. Mr. Jones is a Vice President and Sr. Research Analyst at 22NW where he oversees the firm's investments in the industrials, materials, and consumer sectors. Mr. Jones is currently an Independent Director at the L.B Foster Company, (NASDAQ:FSTR). Franklin Saxon, Culp, Inc. Chairman of the Board of Directors, c

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

4 - CULP INC (0000723603) (Issuer)

Provides Update on Restructuring and Improved Financial Outlook Culp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today reported financial and operating results for the first quarter ended July 28, 2024. Fiscal 2025 First Quarter Financial Highlights Consolidated net sales of $56.5 million - up 14.2% compared sequentially to last quarter - sequentially, upholstery fabrics segment sales up 19.7% and inventory down 4.6%, mattress fabrics segment sales up 9.0% and inventory down 8.6% Year-over-year and sequential operating improvement in upholstery fabrics segment - segment operating income of $1.7 million, up 28.9% year-over-year and 75.6% sequentially -

Culp, Inc. (NYSE:CULP) today announced that it will provide an online, real-time webcast and rebroadcast of its first quarter fiscal 2025 conference call on Thursday, September 5, 2024, at 9:00 a.m. ET. During this call, Culp will review the company's financial and operating results for the first quarter ended July 28, 2024. A press release announcing these results will be issued after the close of market trading on Wednesday, September 4, 2024. The live webcast of Culp's conference call will be available under the "Upcoming Events" section on the Investor Relations page of the company's website, www.culp.com, on Thursday, September 5, 2024, beginning at 9:00 a.m. ET. An online replay of

Culp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today announced that its board of directors has named Mary Beth Hunsberger as President of Culp Upholstery Fabrics, effective July 27, 2024, following the planned succession of retiring division president, Boyd Chumbley. Hunsberger joined CULP in January 2024 as the Executive Vice President of the division and has worked closely with Chumbley over the past six months. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240722217480/en/Culp, Inc. announced that its board of directors has named Mary Beth Hunsberger as President of Culp Upholstery Fabrics, effe

Culp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today reported financial and operating results for the fourth quarter and fiscal year ended April 28, 2024. Fiscal 2024 Fourth Quarter Financial Summary Net sales for the fourth quarter of fiscal 2024 were $49.5 million, down 19.4 percent compared with the prior-year period, with mattress fabrics sales down 16.1 percent, and upholstery fabrics sales down 22.6 percent. Loss from operations was $(4.2) million (which included $204,000 in restructuring expense during the period), compared with a loss from operations of $(4.0) million for the prior-year period (which included $70,000 in restructuring expense dur

Culp, Inc. (NYSE:CULP) today announced that it will provide an online, real-time webcast and rebroadcast of its fourth quarter and fiscal 2024 conference call on Friday, June 28, 2024, at 11:00 a.m. ET. During this call, Culp will review the company's financial and operating results for the fourth quarter and fiscal year ended April 28, 2024. A press release announcing these results will be issued after the close of market trading on Thursday, June 27, 2024. The live webcast of Culp's conference call will be available under the "Upcoming Events" section on the Investor Relations page of the company's website, www.culp.com, on Friday, June 28, 2024, beginning at 11:00 a.m. ET. An online re

Culp, Inc. (the Company) (NYSE:CULP) today announced that it has entered into a cooperation agreement with 22NW, LP, one of the Company's largest shareholders. Pursuant to the agreement, the Company will add Mr. Alexander B. Jones to the board, effectively immediately, and Mr. Jones will serve as a nominee to its slate of directors at the September 2024 Annual Shareholders Meeting. Mr. Jones is a Vice President and Sr. Research Analyst at 22NW where he oversees the firm's investments in the industrials, materials, and consumer sectors. Mr. Jones is currently an Independent Director at the L.B Foster Company, (NASDAQ:FSTR). Franklin Saxon, Culp, Inc. Chairman of the Board of Directors, c

Expect to achieve $10.0 - $11.0 million in annualized savings and operating improvements with restructuring initiatives Expect a return to break even operating results at current industry demand levels post restructuring Cash restructuring charges (estimated at $2.5 million) expected to be funded with proceeds from equipment sales Anticipate receiving at least $10.0 to $12.0 million in cash proceeds (net of all taxes and commissions) from sale of real estate associated with restructuring plan Culp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today announced a major restructuring plan designed to reduce costs, improve asset utilization, and drive perfo

  Culp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today reported financial and operating results for the third quarter ended January 28, 2024. Fiscal 2024 Third Quarter Financial Summary Net sales for the third quarter of fiscal 2024 were $60.4 million, up 15.0 percent compared with the prior-year period, with mattress fabrics sales up 21.6 percent, and upholstery fabrics sales up 9.2 percent. Gross margin for the third quarter of fiscal 2024 was 12.7%, compared with 4.0% for the third quarter of fiscal 2023. Loss from operations was $(1.7) million (which included $111,000 in restructuring and related credits during the period), compared with a loss

Culp, Inc. (NYSE:CULP) today announced that it will provide an online, real-time webcast and rebroadcast of its third quarter fiscal 2024 conference call on Thursday, March 7, 2024, at 11:00 a.m. ET. During this call, Culp will review the company's financial and operating results for the third quarter ended January 28, 2024. A press release announcing these results will be issued after the close of market trading on Wednesday, March 6, 2024. The live webcast of Culp's conference call will be available under the "Upcoming Events" section on the Investor Relations page of the company's website, www.culp.com, on Thursday, March 7, 2024, beginning at 11:00 a.m. ET. An online replay of the cal

Culp, Inc. (NYSE:CULP) today announced that the company will participate in the Water Tower Research Furniture/Furnishings Virtual Conference 2024 on Wednesday, January 17, 2024. The event will showcase a full day of presentations by residential and commercial furniture manufacturers, wholesalers, and suppliers. These presentations and fireside chats will focus on corporate strategies, competitive strengths, and challenges. The event is open to the public, with registration information below. In connection with the conference, there will be a webcast of the Company's presentation, led by Iv Culp, president and chief executive officer, and Ken Bowling, executive vice president and chief fi

Although U.S. stocks closed higher on Monday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Selective Insurance The Trade: Selective Insurance Group, Inc. (NASDAQ:SIGI) President and CEO John J. Marchioni acquired a

Although U.S. stocks closed higher on Tuesday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Barnes & Noble Education The Trade: Barnes & Noble Education, Inc. (NYSE:BNED) Director Eric Singer acquired a total of 18,

Culp (NYSE:CULP) reported quarterly losses of $(0.39) per share which beat the analyst consensus estimate of $(0.45) by 13.33 percent. The company reported quarterly sales of $49.500 million which missed the analyst consensus estimate of $49.727 million by 0.46 percent. This is a 19.42 percent decrease over sales of $61.426 million the same period last year.

Updated Financial Outlook for the Fourth Quarter of Fiscal 2024In addition, the company is updating its previously stated financial outlook for the fourth quarter of fiscal 2024. Due to further weakness in industry demand, the company's consolidated net sales for the fourth quarter are now expected to be approximately 19.0 percent lower as compared to the fourth quarter of fiscal 2023. The company also now expects a consolidated operating loss (loss from operations) for the fourth quarter of fiscal 2024 in the range of $(4.2) million to $(4.7) million. Additionally, the company expects to end the fiscal year with approximately $10.0 million in cash and cash equivalents and no outstanding bor

Expect to achieve $10.0 - $11.0 million in annualized savings and operating improvements with restructuring initiativesExpect a return to break even operating results at current industry demand levels post restructuringCash restructuring charges (estimated at $2.5 million) expected to be funded with proceeds from equipment salesAnticipate receiving at least $10.0 to $12.0 million in cash proceeds (net of all taxes and commissions) from sale of real estate associated with restructuring planCulp, Inc. (NYSE:CULP) (together with its consolidated subsidiaries, "CULP") today announced a major restructuring plan designed to reduce costs, improve asset utilization, and drive performance and profita

Culp (NYSE:CULP) reported its Q3 earnings results on Wednesday, March 6, 2024 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Culp missed estimated earnings by -62.0%, reporting an EPS of $-0.26 versus an estimate of $-0.16. Revenue was up $7.89 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.03 which was followed by a 10.0% increase in the share price the next day. Here's a look at Culp's past performance: Quarter Q2 2024 Q1 2024 Q4 2023 Q3 2023 EPS Estimate -0.22 -0.35 -0.47 -0.61 EPS Actual -0.19 -0.23 -0.38 -0.73 Revenue Estimate 57.80M 60.11M 55.52M 54.89M Revenue Actual 58.73M 56.

Culp (NYSE:CULP) reported quarterly losses of $(0.260) per share which missed the analyst consensus estimate of $(0.190) by 36.84 percent. This is a 64.38 percent increase over losses of $(0.730) per share from the same period last year. The company reported quarterly sales of $60.418 million which beat the analyst consensus estimate of $59.432 million by 1.66 percent. This is a 15.03 percent increase over sales of $52.523 million the same period last year.

Companies Reporting Before The Bell • CTS (NYSE:CTS) is estimated to report quarterly earnings at $0.14 per share on revenue of $708.85 million. • Foot Locker (NYSE:FL) is likely to report quarterly earnings at $0.32 per share on revenue of $2.28 billion. • JD.com (NASDAQ:JD) is likely to report quarterly earnings at $0.63 per share on revenue of $42.16 billion. • Super Group (SGHC) (NYSE:SGHC) is expected to report quarterly earnings at $0.01 per share on revenue of $326.63 million. • Sotherly Hotels (NASDAQ:SOHO) is projected to report earnings for its fourth quarter. • Thor Industries (NYSE:THO) is estimated to report quarterly earnings at $0.67 per share on revenue of $2.27 billion

Culp (NYSE:CULP) is set to give its latest quarterly earnings report on Wednesday, 2024-03-06. Here's what investors need to know before the announcement. Analysts estimate that Culp will report an earnings per share (EPS) of $-0.16. Culp bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.03, which was followed by a 9.68% increase in the share price the next day. Her