Culp Inc.

Culp reported a decline in net sales of 34.6% for the third quarter compared to the prior year, primarily due to weak demand in the mattress and residential home furnishing industries.

The company's focus on maintaining a strong balance sheet and managing cash position has been successful, with positive cash flow for the first nine months of the fiscal year and no outstanding debt.

The transformation of the CHF Mattress Fabrics business is a priority, with efforts focused on improving operational efficiency, quality management, and product mix. New leadership under Tommy Bruno has already made progress in getting the right people in place.