The company operates in the bedding, residential, commercial, and hospitality furnishing industries, designing, manufacturing, and distributing innovative bedding and furnishings products globally.

# Company Summary

## Business Overview

The company operates within the bedding, residential, commercial, and hospitality furnishing industries. It is involved in the design, manufacturing, and distribution of products primarily focused on bedding and related furnishings.

## Industry and Market Context

- **Bedding Industry**: The company is a key player within the bedding industry, supplying products for various sectors including residential homes, commercial establishments, and hospitality services.
- **Furnishing Industries**: It also serves the broader furnishings industry, providing products for residential, commercial, and hospitality sectors.

## Products and Manufacturing

- The company develops a range of bedding and furnishing products, emphasizing product design and innovation.
- Manufacturing and sourcing activities are integral, with sourcing considerations related to raw material availability and seasonality.
- It maintains distribution channels to deliver products to customers efficiently.

## Raw Materials and Competition

- The raw materials used for manufacturing are sourced from various suppliers, with considerations given to their availability and regulation compliance.
- The industry faces competition, and the company must navigate environmental and regulatory requirements.

## Human Capital and Customers

- Human capital strategies are in place, though specific employee numbers are not provided.
- The company has an extensive customer base across different geographic regions, with net sales broken down accordingly.
- It maintains a backlog of orders and owns intellectual property related to its products.

## Additional Notes

- The company is subject to risk factors, cybersecurity considerations, legal proceedings, and mine safety disclosures where relevant.
- Further details such as the number of customers, revenue, net income, and specific employee count are not specified within the provided summary.

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*Note:* The summary is based solely on the provided outline and does not include specific numerical data, as such details were not included in the provided materials.

Culp, Inc. is a publicly traded company specializing in the production of textiles for the mattress and upholstery industries, with a focus on innovative fabrics and customer service.

# Company Overview: Culp, Inc.

## Business Segments
Culp, Inc. operates primarily in the textile industry, focusing on two main business segments:

1. **Mattress Fabrics**
   - **Description**: Culp manufactures and markets knitted and woven fabrics, as well as sewn mattress covers, primarily for bedding products (mattresses, foundations, and mattress sets).
   - **Facilities**: Manufacturing plants located in Stokesdale, North Carolina, St. Jerome, Quebec (Canada), and Ouanaminthe, Haiti.
   - **Revenue Contribution**: Mattress fabrics accounted for **52%** of total net sales for fiscal 2024.

2. **Upholstery Fabrics**
   - **Description**: Offers fabrics and products for residential and commercial upholstered furniture, including seating for various environments (homes, offices, healthcare facilities, and hospitality).
   - **Facilities**: Operates in Burlington, North Carolina, and multiple sites in Shanghai, China.
   - **Revenue Contribution**: Upholstery fabrics made up **48%** of total net sales for fiscal 2024.

## Customers
- Culp serves a **global customer base** primarily comprising leading bedding and furniture manufacturers. 
- Major customers include:
  - **Mattress Segment**: Serta-Simmons Bedding, Tempur + Sealy International, and Casper.
  - **Upholstery Segment**: Ashley Furniture, La-Z-Boy, Flexsteel Home, and Exemplis.

### Number of Customers
- Culp markets to a diverse array of customers but does not specify an exact number of active customers.

## Financial Performance
- **Fiscal 2024 Revenue**: $225.3 million
  - Mattress Fabrics: $116.4 million
  - Upholstery Fabrics: $108.9 million
- **Comparative Revenue**:
  - Fiscal 2023: $234.9 million
  - Fiscal 2022: $294.8 million

## Employees
- As of the end of fiscal 2024, Culp had approximately **1,000 employees**, a decrease from the previous year (down 333 employees).
  - Mattresses Segment: 663 employees
  - Upholstery Segment: 305 employees
- **Locations**: Approximately **486 employees** in the U.S. and **514 employees** in international locations.
- **Turnover Rate**: Company-wide annual employee turnover rate of approximately **43.5%** for fiscal 2024.

## Additional Information
- **Corporate Structure**: Culp, Inc. is a North Carolina corporation established in 1972 and became publicly traded in 1983, listed on the NYSE as "CULP."
- **Mission Statement**: Culp aims to provide innovative, high-quality textile products supported by exceptional service, focusing on creativity, product innovation, and financial stability.
- **Recent Developments**: Culp announced a restructuring plan for fiscal 2025, primarily impacting its mattress fabrics segment, to consolidate operations and improve asset utilization in response to recent market conditions.

This detailed overview encapsulates Culp, Inc.'s operational framework, financial standing, and strategic positioning in the market.

CULP INC

10-K / July 11, 2025

10-K / July 12, 2024

10-K / July 11, 2025

Company Summary

Business Overview

Industry and Market Context

Products and Manufacturing

Raw Materials and Competition

Human Capital and Customers

Additional Notes