Culp Announces Cash Strategy and Business Update in Response to Covid-19, Including Sale of eLuxury and Withdrawal of Guidance
Culp, Inc. (CULP)
Last culp, inc. earnings: 3/4 04:15 pm
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US:NYSE Investor Relations:
culpinc.gcs-web.com/investor-overview
Company Research
Source: Business Wire
HIGH POINT, N.C.--(BUSINESS WIRE)--Culp, Inc. (NYSE: CULP) announced today a series of proactive measures the company has taken to preserve balance sheet strength and reduce costs in response to increasingly challenging market conditions and the impact of the COVID-19 global pandemic. These steps include:Completing a strategic sale of Culp’s majority interest in eLuxury, LLC to the minority owner of eLuxury in order to increase liquidity and focus on its core businesses during this unprecedented environment. The company will maintain a strong working relationship with eLuxury going forward through supply and royalty arrangements designed to support eLuxury’s ongoing growth strategy and preserve an important sales channel for Culp’s core products;Entering an amendment to the company’s existing domestic revolving credit facility with Wells Fargo to increase the borrowing limit, decrease the minimum liquidity level, and extend the expiration date to August 15, 2022;Adding to the comp
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CULP
News
- Culp Announces Broad Restructuring Plan Primarily Focused on Mattress Fabrics Segment, Also Updates Financial Outlook for the Fourth Quarter of Fiscal 2024 [Yahoo! Finance]Yahoo! Finance
- Culp Announces Broad Restructuring Plan Primarily Focused on Mattress Fabrics Segment, Also Updates Financial Outlook for the Fourth Quarter of Fiscal 2024Business Wire
- Culp, Inc. (NYSE: CULP) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Culp, Inc. (NYSE: CULP) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Shareholders in Culp (NYSE:CULP) are in the red if they invested five years ago [Yahoo! Finance]Yahoo! Finance
CULP
Earnings
- 3/6/24 - Miss
CULP
Sec Filings
- 5/1/24 - Form 8-K
- 4/12/24 - Form SC
- 3/8/24 - Form 10-Q
- CULP's page on the SEC website