Culp

GE Completes Separation of GE HealthCare

Retrieved on: 
Wednesday, January 4, 2023

GE (NYSE: GE) announced that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc. (“GE HealthCare”), a global leader in Precision Care.

Key Points: 
  • GE (NYSE: GE) announced that it has completed the separation of its healthcare business, launching GE HealthCare Technologies Inc. (“GE HealthCare”), a global leader in Precision Care.
  • H. Lawrence Culp Jr., Chairman and CEO, GE and CEO, GE Aerospace, said, “The successful spin-off of GE HealthCare marks a pivotal moment in our transformation into three independent companies focused on critical, growing sectors.
  • With lean and innovation at our core, we could not be more excited about the future.”
    Holders of GE common stock received one share of GE HealthCare common stock for every three shares of GE common stock held.
  • GE is retaining approximately 19.9 percent of the shares of GE HealthCare common stock.

Culp, Inc. to Participate in Water Tower Research Fireside Chat Series

Retrieved on: 
Monday, July 19, 2021

Culp, Inc. (NYSE: CULP) today announced that Ken Bowling, the companys Executive Vice President and Chief Financial Officer, will participate in the Water Tower Research Fireside Chat Series tomorrow, Tuesday, July 20, 2021, at 1:30 p.m.

Key Points: 
  • Culp, Inc. (NYSE: CULP) today announced that Ken Bowling, the companys Executive Vice President and Chief Financial Officer, will participate in the Water Tower Research Fireside Chat Series tomorrow, Tuesday, July 20, 2021, at 1:30 p.m.
  • The event is open to the public, with registration information below.
  • Bowling in the Fireside Chat will be Budd Bugatch, Senior Analyst for Water Tower Research.
  • Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.

Culp, Inc. Announces Promotions for Culp Home Fashions

Retrieved on: 
Friday, May 14, 2021

b"Culp, Inc. (NYSE: CULP) today announced that Jeff Tsacoumangos has been named Head of Global Strategic Transformation, Supply Chain and Service for Culp Home Fashions (\xe2\x80\x9cCHF\xe2\x80\x9d), the company\xe2\x80\x99s mattress fabrics division.

Key Points: 
  • b"Culp, Inc. (NYSE: CULP) today announced that Jeff Tsacoumangos has been named Head of Global Strategic Transformation, Supply Chain and Service for Culp Home Fashions (\xe2\x80\x9cCHF\xe2\x80\x9d), the company\xe2\x80\x99s mattress fabrics division.
  • View the full release here: https://www.businesswire.com/news/home/20210514005333/en/\nCulp, Inc. announces Jeff Tsacoumangos has been named Head of Global Strategic Transformation, Supply Chain and Service for Culp Home Fashions, the company\xe2\x80\x99s mattress fabrics division.
  • (Photo: Business Wire)\nCommenting on the announcement, Brown stated, \xe2\x80\x9cWe are pleased to announce this new role for Jeff Tsacoumangos.
  • Culp has manufacturing and sourcing capabilities in the United States, Canada, China, Haiti, Turkey, and Vietnam.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210514005333/en/\n"

Culp, Inc. to Participate in Water Tower Research Fireside Chat Series

Retrieved on: 
Monday, April 19, 2021

b"Culp, Inc. (NYSE: CULP) today announced that Robert G. Culp, IV, the company\xe2\x80\x99s president and chief executive officer, will participate in the Water Tower Research Fireside Chat Series on Wednesday, April 21, 2021, at 1:00 p.m.

Key Points: 
  • b"Culp, Inc. (NYSE: CULP) today announced that Robert G. Culp, IV, the company\xe2\x80\x99s president and chief executive officer, will participate in the Water Tower Research Fireside Chat Series on Wednesday, April 21, 2021, at 1:00 p.m.
  • The event is open to the public, with registration information below.\nHosting Mr. Culp in the Fireside Chat will be Budd Bugatch, Senior Analyst for Water Tower Research.
  • The 30-minute virtual discussion will focus on Mr. Culp\xe2\x80\x99s leadership style and the company\xe2\x80\x99s areas of strategic focus.
  • Culp has manufacturing and sourcing capabilities located in the United States, Canada, China, Haiti, Turkey, and Vietnam.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210419005229/en/\n"

Culp, Inc. Announces Investments and Enhancements to Global Cut and Sew Mattress Cover Platform

Retrieved on: 
Tuesday, February 2, 2021

Culp, Inc. (NYSE: CULP) (together with its consolidated subsidiaries, CULP) today announced that, in response to the growing demand for sewn mattress covers and transforming market dynamics, the company has made strategic investments and enhancements to its global cut and sew mattress cover platform.

Key Points: 
  • Culp, Inc. (NYSE: CULP) (together with its consolidated subsidiaries, CULP) today announced that, in response to the growing demand for sewn mattress covers and transforming market dynamics, the company has made strategic investments and enhancements to its global cut and sew mattress cover platform.
  • CULP has reached an agreement to purchase the remaining fifty percent ownership interest in its unconsolidated joint venture, which produces cut and sew mattress covers in Haiti.
  • With our recent investments in Haiti, we have expanded our capacity and improved our ability to meet growing customer demand.
  • We continue to see favorable growth trends in our sewn mattress cover business, with current and expected demand exceeding pre-COVID-19 levels.

Culp, Inc. to Participate in Sidoti Winter 2021 Virtual Conference

Retrieved on: 
Monday, January 11, 2021

Culp, Inc. (NYSE: CULP) today announced that management will participate in the Sidoti Winter 2021 Virtual Conference to be held January 13 14, 2021.

Key Points: 
  • Culp, Inc. (NYSE: CULP) today announced that management will participate in the Sidoti Winter 2021 Virtual Conference to be held January 13 14, 2021.
  • Presentation materials will also be made available on the day of the presentation.
  • Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.
  • Culp has operations located in the United States, Canada, China and Haiti.

Culp Expands Production of Critical Products in Support of COVID-19 Relief Efforts

Retrieved on: 
Tuesday, April 21, 2020

Iv Culp, chief executive officer of Culp, Inc., said, As the COVID-19 pandemic has spread across the world, I am extremely proud of our employees and strategic partners across our global platform for stepping up to assist in Culps relief efforts.

Key Points: 
  • Iv Culp, chief executive officer of Culp, Inc., said, As the COVID-19 pandemic has spread across the world, I am extremely proud of our employees and strategic partners across our global platform for stepping up to assist in Culps relief efforts.
  • Our mattress fabrics and upholstery fabrics divisions are working cross-functionally in these efforts and leveraging their resources to meet critical needs.
  • Culp associates are honored by the opportunity to pitch in and support our front-line workers, our healthcare operators, our communities, and our nation during this unprecedented time.
  • Culp, Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture.

Culp Announces Cash Strategy and Business Update in Response to Covid-19, Including Sale of eLuxury and Withdrawal of Guidance

Retrieved on: 
Friday, April 3, 2020

The company expects to provide more information when it reports fourth quarter and fiscal 2020 results in June.

Key Points: 
  • The company expects to provide more information when it reports fourth quarter and fiscal 2020 results in June.
  • To date, Culp has experienced significant reductions in demand in many of its markets.
  • Iv Culp, chief executive officer of Culp, Inc., said, As the COVID-19 pandemic has spread across the world, Culp has been actively responding through our crisis management plan and adjusting our business operations accordingly.
  • Until then, we will continue to monitor the situation closely and focus on managing our business to conserve cash and maintain balance sheet flexibility.

Culp, Inc. Names Perry E. Davis to Board of Directors

Retrieved on: 
Wednesday, June 26, 2019

Culp, Inc. (NYSE: CULP) today announced that Perry E. Davis was elected to the companys Board of Directors.

Key Points: 
  • Culp, Inc. (NYSE: CULP) today announced that Perry E. Davis was elected to the companys Board of Directors.
  • Davis currently serves as Executive Vice President, President Residential and Industrial Product Segments for Leggett & Platt, Incorporated, a diversified manufacturer that designs and produces engineered products found in most homes and automobiles.
  • Davis has a bachelors degree in marketing and management from Missouri Southern State University.
  • Commenting on the announcement, Frank Saxon, chairman and chief executive officer of Culp, Inc., stated, We are delighted to welcome Perry Davis to our Board of Directors as an independent director.

Culp Announces Revised Expectations for Fourth Quarter Fiscal 2019

Retrieved on: 
Wednesday, May 1, 2019

Culp, Inc. (NYSE: CULP) today announced that, based on unaudited preliminary results and current estimates, the company expects pre-tax income (GAAP) to be in the range of $1.0 million to $1.7million for the fourth quarter of fiscal 2019.

Key Points: 
  • Culp, Inc. (NYSE: CULP) today announced that, based on unaudited preliminary results and current estimates, the company expects pre-tax income (GAAP) to be in the range of $1.0 million to $1.7million for the fourth quarter of fiscal 2019.
  • Commenting on the announcement, Iv Culp, president and chief operating officer of Culp, Inc., said, The revised expectations for the fourth quarter of fiscal 2019 resulted from the continuing headwinds associated with Chinese imported mattresses and an overall weaker retail environment.
  • Additionally, our financial position remains strong, with approximately $45.0 million of cash and investments as of the fourth quarter of fiscal 2019.
  • The company expects to report financial and operating results for the fourth quarter and fiscal 2019 in mid-June.