|Exchange:||New York Stock Exchange|
|Culp, Inc. was organized as a North Carolina corporation in 1972 and made its initial public offering in 1983. The Company manufactures, sources, and markets mattress fabrics (also known as mattress ticking) used for covering mattresses and box springs, and upholstery fabrics mainly for use in production of upholstered furniture (residential and commercial). The Company’s mattress fabrics are used mainly in the production of bedding products, including mattresses, box springs, and mattress sets. The Company’s upholstery fabrics are used in the production of residential and commercial upholstered furniture, sofas, recliners, chairs, loveseats, sectionals, sofa-beds, and office seating. Culp mainly markets fabrics that have broad appeal in the ‘good’ and ‘better’ priced categories of furniture and bedding. It has two operating segments - mattress fabrics and upholstery fabrics. The mattress fabric business markets woven and knitted fabrics used by bedding manufacturers. The upholstery fabrics segment markets a variety of products in categories of fabric used as coverings for furniture. It markets a variety of fabrics in different categories, including fabrics produced at its manufacturing facilities and fabrics produced by other suppliers. The mattress fabrics segment manufactures and markets mattress fabric to bedding manufacturers. These fabrics encompass woven jacquard fabric, knitted fabric and, to a lesser extent, printed fabric. Culp Home Fashions, as this business is known in the trade, has manufacturing facilities located in Stokesdale and High Point, North Carolina, and St. Jerome, Quebec, Canada. The Stokesdale and St. Jerome plants manufacture and finish jacquard (damask) fabric, and the Stokesdale plant also produces printed fabric. The Stokesdale plant houses the division offices and finished goods distribution capabilities. The upholstery fabrics segment markets fabrics for residential and commercial furniture, including jacquard woven fabrics, velvets, microdenier suedes, woven dobbies, knitted fabrics, and piece-dyed woven products. Historically, all of its upholstery fabrics had been produced in its U.S. manufacturing plants. Competition for its products is high and is based mainly on price, design, quality, timing of delivery and service. The Company is subject to various federal and state laws and regulations, including the Occupational Safety and Health Act (OSHA) and federal and state environmental laws, as well as similar laws governing its manufacturing facilities in China and Canada.|
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