Culp, Inc. (CULP) Reports Q3 Loss of $2.26/sh
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Culp Announces Results for Fourth Quarter and Fiscal 2020, Provides Current Business Improvement and Liquidity Update, Announces Quarterly Dividend
July 1, 2020 4:15 PM EDTHIGH POINT, N.C.--(BUSINESS WIRE)-- Culp, Inc. (NYSE: CULP) today reported financial and operating results for the fourth quarter and fiscal year ended May 3, 2020, which were severely affected by the coronavirus (COVID-19) pandemic and included non-cash asset impairment charges in connection with the related business disruption. Also, in support of a comprehensive liquidity focus, Culp sold its majority interest in eLuxury, LLC (eLuxury) on March 31, 2020, resulting in the elimination of the companys home accessories segment. Accordingly, the financial results for this segment are excluded from the reported financial performance of the companys... More
