By Connor Hart
Culp's loss widened in its fiscal fourth quarter as the company warned the challenging demand landscape will likely continue to weigh on results in the coming months.
The fabric manufacturer on Wednesday reported a loss of $2.24 million, or 18 cents a share, for its three months ended May 3. That was deeper than the loss of $2.07 million, of 17 cents, a share in last year's comparable quarter.
Net sales rose to $51.6 million from $48.8 million.
Bedding sales climbed 13% from last year, to $30.5 million. The gain was somewhat offset by upholstery sales, which fell 2.8% to $21.1 million.
Chief Executive Iv Culp said the company's bedding unit benefited from market share gains and new product innovations, most notably in sewn mattress covers. Culp's upholstery business, meanwhile, continues to feel pressure from the downbeat home-furnishings market, which has been plagued in part by slow home sales.
Looking ahead, Culp said it would issue limited guidance, citing macroeconomic uncertainty, along with the fluid global trade and tariff environment. The company noted that it recently recovered about $7 million in tariff refunds, which were used to help offset higher costs and pay down debt.
"Importantly, our focus in this macro-environment remains on disciplined cost management, cash flow performance and reducing debt levels," Culp said.
The company guided for its fiscal first-quarter sales to moderately improve year-over-year, though it warned the home-furnishing market will likely remain challenged.
Write to Connor Hart at connor.hart@wsj.com