High Point - US circular knitter Culp Inc narrowed its loss during its first quarter quarter despite a drop in sales across both its mattress ticking and upholstery segments.
Net sales for the first quarter of fiscal 2024 were US$56.7 million, down 9.5% compared with the prior-year period, with mattress fabrics sales down 0.5% - a solid performance in the face of industry softness - and upholstery fabrics sales down 17.4% compared to a strong quarter the prior year that was fueled by a lift in sales following pandemic-related shutdowns in China.
