Subscribe to Furniture Today
Research Store
RSS
Reprints/License
Print
Email

Share this on
Facebook
LinkedIn
Twitter

Culp sales decline 9.1% in quarter

Net income declines 8.2% from year ago

Larry Thomas -- Furniture Today, September 4, 2008

HIGH POINT - Fabric supplier Culp Inc. said its sales fell 9.1% in its first fiscal quarter amid continuing weakness in its mattress ticking and upholstery fabric businesses.

The company said the upholstery fabric segment was weaker than expected, but officials were pleased with the mattress ticking business, which had a 2.7% decline in sales but recorded operating income of $4.2 million.

Upholstery fabric sales, including cut and sewn kits, fell 17% and the segment had an operating loss of $1.4 million.

"The retail climate we are facing so far this year, particularly in the furniture industry, is as difficult as we have seen in many years," said Frank Saxon, CEO. "However, we are working diligently to strengthen our business models in both divisions and increase the value we are providing our customers in terms of product innovation, delivery performance and quality."

Net income in the quarter ended Aug. 3 was $781,000 or 8 cents per share. That's 8.2% below the same quarter a year ago, when profits totaled $851,000 or 12 cents per share.

Sales totaled $59.3 million, down from $65.2 million in the same quarter last year.

RSS
Reprints/License
Print
Email

Share this on
Facebook
LinkedIn
Twitter

Resource Center

Featured Company


Related Resources

Advertisement
More Content
  • Blogs
  • Photos

Mike Root

From A Rep's Perspective

Mike Root, President, Furniture Sales of Mid-America
May 31, 2011
The Hot New Marketing Idea Furniture Retailers Are Chasing
After my last post, Sev Ritchie from Web4Retail called me up to discuss the...
More

Mike Root

From A Rep's Perspective

Mike Root, President, Furniture Sales of Mid-America
May 31, 2011
The Hot New Marketing Idea Furniture Retailers Are Chasing
The Hot New Marketing Idea Furniture Retailers Are ChasingAfter my last post, Sev...
More

» VIEW ALL BLOGS RSS

Atlanta International Gift & Home Furnishings Market

Here is a selection of products shown at this month's International Gift & Home Furnishings Market here.

Networking at the 13th annual F/T Leadership Conference

NAPLES, Fla. — Industry executives and guests took the opportunity to network and play golf during down time at Furniture/Today's 13th annual Leadership Conference here this month.
VIEW ALL GALLERIES

research marketing module
Casual Living Conference
eNewsletters
eletter_callout_box_FT2
About Us   |   Advertise   |   Site Map   |   Contact Us   |   Subscription   |   Affiliate Links   |   RSS
© 2012 Sandow Media LLC.All rights reserved.
Use of this website is subject to its Terms of Use | Privacy Policy