Culp (CULP) 10-Q 8 Sep 23 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 30, 2023	Sep. 05, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	CULP INC
Entity Central Index Key	0000723603
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	CULP
Entity Common Stock, Shares Outstanding		12,457,346
Entity File Number	1-12597
Entity Tax Identification Number	56-1001967
Entity Address, Address Line One	1823 Eastchester Drive
Entity Address, City or Town	High Point
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27265-1402
City Area Code	336
Local Phone Number	889-5161
Entity Incorporation State Country Code	NC
Title of 12(b) Security	Common Stock, par value $.05/ Share
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET LOSS - USD ($)		3 Months Ended
		Jul. 30, 2023	Jul. 31, 2022
Income Statement [Abstract]
Net sales		$ 56,662,000	$ 62,604,000
Cost of sales		(49,577,000)	(58,476,000)
Gross profit		7,085,000	4,128,000
Selling, general and administrative expenses		(9,829,000)	(8,866,000)
Restructuring expense	[1]	(338,000)
Loss from operations		(3,082,000)	(4,738,000)
Interest income		345,000	17,000
other income (expense)		96,000	(82,000)
Loss before income taxes		(2,641,000)	(4,803,000)
Income tax expense		(701,000)	(896,000)
Net (loss) income		$ (3,342,000)	$ (5,699,000)
Net (loss) income per share - basic		$ (0.27)	$ (0.47)
Net (loss) income per share - diluted		$ (0.27)	$ (0.47)
Average shares outstanding, basic		12,332,000	12,238,000
Average shares outstanding, diluted		12,332,000	12,238,000
[1] Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Consolidated Statements of Comprehensive (Loss) Income
Net (loss) income	$ (3,342)	$ (5,699)
Unrealized holding gain (loss) on investments, net of tax	57	(7)
Comprehensive (loss) income	$ (3,285)	$ (5,706)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Current assets:
Cash and cash equivalents	$ 16,812,000	$ 20,964,000	[1]	$ 18,874,000
Short-term investments - rabbi trust	791,000	1,404,000	[1]
Accounts receivable, net	22,612,000	24,778,000	[1]	24,812,000
Inventories	43,817,000	45,080,000	[1]	63,749,000
Short-term note receivable	252,000	219,000	[1]
Current income taxes receivable	202,000			798,000
Other current assets	3,578,000	3,071,000	[1]	3,840,000
Total current assets	88,064,000	95,516,000	[1]	112,073,000
Property, plant and equipment, net	34,929,000	36,111,000	[1]	40,490,000
Right of use assets	7,466,000	8,191,000	[1]	14,556,000
Long-term investments - rabbi trust	7,204,000	7,067,000	[1]	9,567,000
Intangible assets	2,158,000	2,252,000	[1]	2,534,000
Long-term note receivable	1,661,000	1,726,000	[1]
Deferred income taxes	476,000	480,000	[1]	546,000
Other assets	944,000	840,000	[1]	724,000
Total assets	142,902,000	152,183,000	[1]	180,490,000
Current liabilities:
Accounts payable - trade	26,468,000	29,442,000	[1]	29,097,000
Accounts payable - capital expenditures	257,000	56,000	[1]	346,000
Operating lease liability - current	2,558,000	2,640,000	[1]	3,126,000
Deferred compensation - current	791,000	1,404,000	[1]
Deferred revenue	1,026,000	1,192,000	[1]	1,368,000
Accrued expenses	6,615,000	8,533,000	[1]	7,158,000
Accrued restructuring costs	10,000
Income taxes payable - current	526,000	753,000	[1]	587,000
Total current liabilities	38,251,000	44,020,000	[1]	41,682,000
Operating lease liability - noncurrent	2,994,000	3,612,000	[1]	6,160,000
Income taxes payable - long-term	2,710,000	2,675,000	[1]	3,118,000
Deferred income taxes	5,864,000	5,954,000	[1]	6,007,000
Deferred compensation	6,966,000	6,842,000	[1]	9,528,000
Total liabilities	56,785,000	63,103,000	[1]	66,495,000
Commitments and Contingencies (Notes 10, 16, and 17)
Shareholders' equity
Preferred stock, $0.05 par value, authorized 10,000,000
Common stock, $0.05 par value, authorized 40,000,000 shares, issued and outstanding 12,344,030 at July 30, 2023; 12,274,786 at July 31, 2022, and 12,327,414 at April 30, 2023	617,000	616,000	[1]	614,000
Capital contributed in excess of par value	44,571,000	44,250,000	[1]	43,340,000
Accumulated earnings	40,853,000	44,195,000	[1]	70,016,000
Accumulated other comprehensive income	76,000	19,000	[1]	25,000
Total shareholders' equity	86,117,000	89,080,000	[1]	113,995,000
Total liabilities and shareholders' equity	$ 142,902,000	$ 152,183,000	[1]	$ 180,490,000
[1] Derived from audited consolidated financial statements.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 30, 2023	Apr. 30, 2023	[1]	Jul. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.05	$ 0.05		$ 0.05
Preferred stock, authorized shares	10,000,000	10,000,000		10,000,000
Common stock, par value	$ 0.05	$ 0.05		$ 0.05
Common stock, authorized shares	40,000,000	40,000,000		40,000,000
Common stock, issued	12,344,030	12,327,414		12,274,786
Common stock, outstanding	12,344,030	12,327,414		12,274,786
[1] Derived from audited consolidated financial statements.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Cash flows from operating activities:
Net loss	$ (3,342)	$ (5,699)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	1,635	1,770
Non-cash inventory (credits) charges	(717)	1,421
Amortization	96	105
Stock-based compensation	322	252
Deferred income taxes	(86)	(15)
Gain sale of equipment	(270)	(64)
Non-cash restructuring expenses	237
Foreign currency exchange gain	(372)	(161)
Changes in assets and liabilities:
Accounts receivable	2,112	(2,643)
Inventories	1,792	1,223
Other current assets	(526)	(955)
Other assets	(134)	21
Accounts payable – trade	(2,353)	9,338
Deferred revenue	(166)	848
Accrued restructuring costs	10
Accrued expenses and deferred compensation	(2,311)	(413)
Income taxes	(362)	281
Net cash (used in) provided by operating activities	(4,435)	5,309
Cash flows from investing activities:
Capital expenditures	(513)	(711)
Proceeds from the sale of equipment	294	166
Proceeds from note receivable	60
Proceeds from the sale of investments (rabbi trust)	780	23
Purchase of investments (rabbi trust)	(247)	(236)
Net cash provided by (used in) investing activities	374	(758)
Cash flows from financing activities:
Payments of debt issuance costs		(161)
Net cash used in financing activities		(161)
Effect of exchange rate changes on cash and cash equivalents	(91)	(66)
(Decrease) increase in cash and cash equivalents	(4,152)	4,324
Cash and cash equivalents at beginning of period	20,964	14,550
Cash and cash equivalents at end of period	$ 16,812	$ 18,874

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands		Total		Common Stock		Capital Contributed in Excess of Par Value		Accumulated Earnings		Accumulated Other Comprehensive Income
Balance at May. 01, 2022	[1]	$ 119,501		$ 611		$ 43,143		$ 75,715		$ 32
Balance (in shares) at May. 01, 2022	[1]			12,228,629
Net loss		(5,699)						(5,699)
Stock-based compensation		252				252
Unrealized gain (loss) on investments		(7)								(7)
Common stock issued in connection with vesting of performance based restricted stock units (in shares)				913
Common stock issued in connection with the vesting of time-based restricted stock units				$ 2		(2)
Common stock issued in connection with the vesting of time-based restricted stock units (in shares)				32,199
Common stock surrendered in connection with payroll withholding taxes		(52)				(52)
Common stock surrendered in connection with payroll withholding taxes (in shares)				(6,708)
Immediately vested common stock award				$ 1		(1)
Immediately vested common stock award, (in shares)				19,753
Balance at Jul. 31, 2022		113,995		$ 614		43,340		70,016		25
Balance (in shares) at Jul. 31, 2022				12,274,786
Balance at Apr. 30, 2023		89,080	[2]	$ 616	[3]	44,250	[3]	44,195	[3]	19	[3]
Balance (in shares) at Apr. 30, 2023	[3]			12,327,414
Net loss		(3,342)						(3,342)
Stock-based compensation		322				322
Unrealized gain (loss) on investments		57								57
Immediately vested common stock award				$ 1		(1)
Immediately vested common stock award, (in shares)				16,616
Balance at Jul. 30, 2023		$ 86,117		$ 617		$ 44,571		$ 40,853		$ 76
Balance (in shares) at Jul. 30, 2023				12,344,030
[1] Derived from audited consolidated financial statements. Derived from audited consolidated financial statements. Derived from audited consolidated financial statements.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 29, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Culp, Inc. and its majority-owned subsidiaries (the “company”) include all adjustments that are, in the opinion of management, necessary for fair presentation of the results of operations and financial position. All these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements that are included in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on July 14, 2023, for the fiscal year ended April 30, 2023. Certain amounts presented in the prior period have been reclassified to conform to the current period consolidated financial statement presentation. A non-cash charge totaling $ 1.4 million for markdowns of inventory estimated based on our policy for aged inventory was reclassified from the line item “Inventories” to the line item “Non-cash inventory (credits) charges” in the Consolidated Statement of Cash Flows for the three months ended July 31, 2022. This reclassification did not have an effect on previously reported net cash provided by operating activities and increase in cash and cash equivalents. The company’s three-months ended July 30, 2023, and July 31, 2022, each represent 13-week periods.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jul. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies As of July 30, 2023, there were no changes in the nature of our significant accounting policies or the application of those policies from those reported in our annual report on Form 10-K for the year then ended April 30, 2023. Recently Adopted Accounting Pronouncements There were no recently adopted accounting pronouncements during the first quarter of fiscal 2024. Recently Issued Accounting Pronouncements Currently, there are no new recent accounting pronouncements that are expected to have a material effect on our consolidated financial statements.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	3 Months Ended
	Jul. 30, 2023
Receivables [Abstract]
Allowance for Doubtful Accounts	3. Allowance for Doubtful Accounts A summary of the activity in the allowance for doubtful accounts follows: Three Months Ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance $ 342 $ 292 Provision for bad debts 129 57 Write-offs, net of recoveries ( 30 ) - Ending balance $ 441 $ 349 During the three-month periods ended July 30, 2023, and July 31, 2022, we assessed the credit risk of our customers within our accounts receivable portfolio. Our risk assessment includes the respective customers’ (i) financial position; (ii) past payment history; (iii) management’s general ability; and (iv) historical loss experience; as well as (v) any other ongoing economic conditions. After our risk assessm ent was completed, we assigned credit grades to our customers, which in turn, were used to determine our allowance for doubtful accounts totaling $ 441,000 and $ 349,000 as of July 30, 2023, and July 31, 2022, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Jul. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	4 . Revenue from Contracts with Customers Nature of Performance Obligations Our operations are classified into two business segments: mattress fabrics and upholstery fabrics. The mattress fabrics segment manufactures, sources, and sells fabrics and mattress covers primarily to bedding manufacturers. The upholstery fabrics segment develops, manufactures, sources, and sells fabrics primarily to residential and commercial furniture manufacturers. In addition, the upholstery fabrics segment includes Read Window Products LLC (“Read”), which provides window treatments and sourcing of upholstery fabrics and other products, as well as measuring and installation services for Read’s products, to customers in the hospitality and commercial industries. Read also supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Our primary performance obligations include the sale of mattress fabrics and upholstery fabrics, as well as the performance of customized fabrication and installation services for Read’s products associated with window treatments. Contract Assets & Liabilities Certain contracts, primarily those for customized fabrication and installation services associated with Read, require upfront customer deposits that result in a contract liability which is recorded in the Consolidated Balance Sheets as deferred revenue. Our terms are customary within the industries in which we operate and are not considered financing arrangements. There were no contract assets recognized as of July 30, 2023, July 31, 2022, or April 30, 2023. A summary of the activity associated with deferred revenue follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance $ 1,192 $ 520 Revenue recognized on contract liabilities ( 1,087 ) ( 821 ) Payments received for services not yet rendered 921 1,669 Ending balance $ 1,026 $ 1,368 Disaggregation of Revenue The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 30, 2023: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,222 $ 24,774 $ 53,996 Services transferred over time — 2,666 2,666 Total Net Sales $ 29,222 $ 27,440 $ 56,662 The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 31, 2022: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,371 $ 31,523 $ 60,894 Services transferred over time — 1,710 1,710 Total Net Sales $ 29,371 $ 33,233 $ 62,604

Inventories

Inventories	3 Months Ended
	Jul. 30, 2023
Inventory Disclosure [Abstract]
Inventories	5. Inventories Inventories are carried at the lower of cost or net realizable value. Cost is determined using the FIFO (first-in, first-out) method. A summary of inventories follows: (dollars in thousands) July 30, July 31, April 30, Raw materials $ 8,408 $ 12,690 $ 7,908 Work-in-process 2,430 4,985 2,602 Finished goods 32,979 46,074 34,570 $ 43,817 $ 63,749 $ 45,080 Measurement of Inventory to Net Realizable Value We recorded a non-cash inventory credit of $ 717,000 for the three months ended July 30, 2023, representing an $ 896,000 credit related to adjustments made to our inventory markdowns reserve estimated based on our policy for aged inventory for both our operating segments, partially offset by a charge of $ 179,000 for markdowns of inventory related to the exit of our cut and sew upholstery fabrics operation located in Ouanaminthe, Haiti. We incurred a non-cash inventory charge of $ 1.4 million for the three months ended July 31, 2022, which represents markdowns of inventory estimated based on our policy for aged inventory in both mattress and upholstery fabrics segments. Assessment As of July 30, 2023, we reviewed our mattress fabrics and upholstery fabrics inventories to determine if any additional write-downs, in excess of the amount recorded based on our policy for aged inventory, were necessary. Based on our assessment, no additional write-downs of inventories to their net realizable value were recorded for the three months ended July 30, 2023, other than the markdowns of inventory associated with our upholstery fabrics segment restructuring activity described more fully in Note 9 of the consolidated financial statements. Based on the current unfavorable macroeconomic conditions, it is possible that estimates used by management to determine the write down of inventory to its net realizable value could be materially different from the actual amounts or its results. These differences could result in higher than expected inventory provisions, which could adversely affect the company’s results of operations and financial condition in the near term.

Intangible Assets

Intangible Assets	3 Months Ended
	Jul. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets A summary of intangible assets follows: (dollars in thousands) July 30, July 31, April 30, Tradename $ 540 $ 540 $ 540 Customer relationships, net 1,260 1,561 1,335 Non-compete agreement, net 358 433 377 $ 2,158 $ 2,534 $ 2,252 Tradename Our tradename pertains to Read, a separate reporting unit within the upholstery fabrics segment. This tradename was determined to have an indefinite useful life at the time of its acquisition, and therefore is not being amortized. However, we are required to assess this tradename annually or between annual tests if we believe indicators of impairment exist. Based on our assessment as of July 30, 2023, no indicators of impairment existed, and therefore we did no t record any asset impairment charges associated with our tradename through the first quarter of fiscal 2024. Customer Relationships A summary of the change in the carrying amount of our customer relationships follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance, net $ 1,335 $ 1,636 Amortization expense ( 75 ) ( 75 ) Ending balance, net $ 1,260 $ 1,561 Our customer relationships are amortized on a straight-line basis over useful lives ranging from nine to seventeen years . The gross carrying amount of our customer relationships was $ 3.1 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. Accumulated amortization for these customer relationships was $ 1.9 million, $ 1.6 million, and $ 1.8 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. The remaining amortization expense for the next five fiscal years and thereafter are as follows: FY 2024 - $ 226,000 ; FY 2025 - $ 301,000 ; FY 2026 - $ 301,000 ; FY 2027 - $ 278,000 ; FY 2028 - $ 52,000 ; and thereafter - $ 102,000 . The weighted average amortization period for our customer relationships was 4.5 years as of July 30, 2023. Non-Compete Agreement A summary of the change in the carrying amount of our non-compete agreement follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance, net $ 377 $ 452 Amortization expense ( 19 ) ( 19 ) Ending balance, net $ 358 $ 433 Our non-compete agreement is associated with a prior acquisition by our mattress fabrics segment and is amortized on a straight-line basis over the fifteen-year life of the agreement. The gross carrying amount of our non-compete agreement was $ 2.0 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. Accumulated amortization for our non-compete agreement was $ 1.7 million, $ 1.6 million, and $ 1.6 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. The remaining amortization expense for the next five years and thereafter follows: FY 2024 - $ 57,000 ; FY 2025 - $ 76,000 ; FY 2026 - $ 76,000 ; FY 2027 - $ 76,000 ; FY 2028 - $ 73,000 . The weighted average amortization period for the non-compete agreement was 4.8 years as of July 30, 2023. Impairment As of July 30, 2023, management reviewed the long-lived assets associated with our mattress fabrics segment, which consisted of property, plant, and equipment, right of use assets, and finite-lived intangible assets (collectively known as the "Mattress Asset Group"), for impairment, as events and changes in circumstances occurred that indicated the carrying amount of the Mattress Asset Group may not be recoverable. The mattress fabrics segment experienced a significant cumulative operating loss totaling $ 17.2 million commencing in the second quarter of fiscal 2023, and continuing through the first quarter of fiscal 2024. We believe the significant decline in profitability for the mattress fabrics segment stemmed from a decline in consumer discretionary spending on mattress products, which we believe was due to the following factors: (i) inflationary effects of commodities such as gas, food, and other necessities; (ii) a significant increase in interest rates; (iii) the pulling forward of demand for home goods products during the early years of the COVID-19 pandemic, which demand has now shifted to travel, leisure, and other services; and (iv) excess inventory held by customers due to the decline in consumer demand. Based on the above evidence, we were required to determine the recoverability of the Mattress Asset Group, which is classified as held and used, by comparing the carrying amount of the Mattress Asset Group to the sum of the future undiscounted cash flows expected to result from its use and eventual disposition. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge is recognized for the excess of the carrying amount over the sum of the undiscounted future cash flows of the asset group. The carrying amount of the Mattress Asset Group totaled $ 35.6 million, which relates to property, plant, and equipment of $ 32.8 million, right of use assets of $ 2.1 million, customer relationships of $ 345,000 , and a non-compete agreement of $ 358,000 . The total carrying amount of the Mattress Asset Group did not exceed the sum of its future undiscounted cash flows from its use and disposition. As a result, we determined no impairment associated with the Mattress Asset Group existed as of July 30, 2023.

Note Receivable

Note Receivable	3 Months Ended
	Jul. 30, 2023
Receivables [Abstract]
Note Receivable	7. Note Receivable In connection with the restructuring activity of our upholstery fabrics cut and sew operation located in Ouanaminthe, Haiti, effective January 24, 2023, Culp Upholstery Fabrics Haiti, Ltd. (“CUF Haiti”) entered into an agreement to terminate a lease of a facility (“Termination Agreement”). See Note 9 of the consolidated financial statements for further details regarding this restructuring activity. Pursuant to the terms of the original lease agreement (the “Original Lease”), CUF Haiti was required to pay in advance $ 2.8 million for the full amount of rent due prior to the commencement of the Original Lease, and the initial lease term was set to expire on December 31, 2029 . Pursuant to the terms of the Termination Agreement, the Original Lease was formally terminated when CUF Haiti vacated and returned possession of the leased facility to the lessor. After CUF Haiti vacated and returned possession of the leased facility, a third party (the “Lessee”) took possession of this facility, and the Lessee agreed to pay CUF Haiti $ 2.4 million in the form of a note receivable over a period commencing on April 1, 2023, and ending on December 31, 2029, based on the terms stated in the Termination Agreement. In connection with Termination Agreement, an affiliate of the Lessee has guaranteed payment in full of all amounts due and payable to CUF Haiti by the Lessee, and CUF Haiti has been fully and unconditionally discharged from all of its remaining obligations under the Original Lease. As of the end of our third quarter of fiscal 2023, the carrying amount of the note receivable totaling $ 2.4 million was recorded at its fair value of $ 2.0 million, which represented the present value of future discounted cash flows based on the payment amounts and timing of such payments due from the Lessee as stated in the Termination Agreement. Consequently, since the fair value of the note receivable was less than its carrying amount, we recorded a restructuring charge of $ 434,000 during the third quarter of fiscal 2023 to reduce the note receivable’s carrying amount to its reported fair value. The interest rate used to determine the present value of the future discounted cash flows was based on significant unobservable inputs and assumptions determined by management such as (i) the credit characteristics of the Lessee and guarantor of the Termination Agreement; (ii) the length of the payment terms as defined in the Termination Agreement; (iii) the payment terms as defined in the Termination Agreement being denominated in USD; and (iv) the fact that the facility is located in, and the Lessee and guarantor conduct business in, Haiti, a foreign country. Since management used significant unobservable inputs and assumptions to determine the fair value of this note receivable, this note receivable was classified as Level 3 within the fair value hierarchy (see Note 11 for further explanation of the fair value hierarchy). The following table represents the remaining future principal payments as of July 30, 2023: (dollars in thousands) 2024 $ 270 2025 360 2026 360 2027 360 2028 360 Thereafter 600 Undiscounted value of note receivable $ 2,310 Less: unearned interest income ( 397 ) Present value of note receivable $ 1,913 As of July 30, 2023, we believe there is no expected credit loss related to the collectibility of our note receivable, as the Lessee has made all of the required principal payments stated in the Termination Agreement. We will continue to evaluate the facts and circumstances at the end of each reporting period to determine if an expected credit loss is deemed necessary.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Jul. 30, 2023
Text Block [Abstract]
Accrued Expenses	. Accrued Expenses A summary of accrued expenses follows: (dollars in thousands) July 30, July 31, April 30, Compensation, commissions and related benefits $ 3,375 $ 3,890 $ 5,800 Other accrued expenses 3,240 3,268 2,733 $ 6,615 $ 7,158 $ 8,533

Upholstery Fabrics Segment Rest

Upholstery Fabrics Segment Restructuring	3 Months Ended
	Jul. 30, 2023
Restructuring and Related Activities [Abstract]
Upholstery Fabrics Segment Restructuring	. Upholstery Fabrics Segment Restructuring During the third and fourth quarters of fiscal 2023, CUF Haiti entered into an agreement to terminate a lease associated with a facility located in Ouanaminthe, Haiti and, in turn, moved the production of upholstery cut and sewn kits to an existing facility leased by Culp Home Fashions Haiti, Ltd. (“CHF Haiti”). Both CUF Haiti and CHF Haiti are indirect wholly-owned subsidiaries of Culp, Inc. During the first quarter of fiscal 2024, demand for upholstery cut and sewn kits declined more than previously anticipated, resulting in the strategic action to discontinue the production of upholstery cut and sew kits in Haiti in the latter part of the first quarter of fiscal 2024. The following summarizes our restructuring expense and restructuring related charges from the above restructuring activity for the three months ending July 30, 2023: Three Months Ended (dollars in thousands) July 30, 2023 Employee termination benefits $ 101 Impairment loss - equipment 237 Loss on disposal and markdowns of inventory 179 Restructuring expense and restructuring related charges (1) $ 517 (1) Of the total $ 517,000 , $ 338,000 and $ 179,000 were recorded within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ending July 30, 2023. The following summarizes the activity in accrued restructuring costs for the three-month period ending July 30, 2023: Employee Termination (dollars in thousands) Benefits Total Beginning balance $ — $ — Expenses incurred 101 101 Payments ( 91 ) ( 91 ) Ending balance $ 10 $ 10

Lines of Credit

Lines of Credit	3 Months Ended
	Jul. 30, 2023
Debt Disclosure [Abstract]
Lines of Credit	. Lines of Credit Revolving Credit Agreement – United States On January 19, 2023, Culp, Inc., as borrower (the “company”), and Read, as guarantor (the “Guarantor”), entered into a Second Amended and Restated Credit Agreement (the “ABL Credit Agreement”), by and among the company, the Guarantor and Wells Fargo Bank, National Association, as the lender (the “Lender”), to establish an asset-based revolving credit facility (the “ABL Facility”). The proceeds from the ABL Facility may be used to pay fees and expenses related to the ABL Facility and will provide funding for ongoing working capital and general corporate purposes. The ABL Credit Agreement amends, restates and supersedes, and serves as a replacement for, the Amended and Restated Credit Agreement (the “Amended Agreement”), dated as of June 24, 2022, and the First Amendment to the Amended Agreement dated as of August 19, 2022, as amended, by and between the company and the Lender. The ABL Facility may be used for revolving credit loans and letters of credit from time to time up to a maximum principal amount of $ 35.0 million, subject to the limitations described below. The ABL Facility contains a sub-facility that allows the company to issue letters of credit in an aggregate amount not to exceed $ 1 million. The amount available under the ABL Facility is limited by a borrowing base consisting of certain eligible accounts receivable and inventory, reduced by specified reserves, as follows: • 85 % of eligible accounts receivable, plus • the least of: o the sum of: ▪ lesser of (i) 65 % of eligible inventory valued at cost based on a first-in first-out basis (net of intercompany profits) and (ii) 85 % of the net-orderly-liquidation value percentage of eligible inventory, plus ▪ the least of (i) 65 % of eligible in-transit inventory valued at cost based on a first-in first-out basis (net of intercompany profits), (ii) 85 % of the net-orderly-liquidation value percentage of eligible in-transit inventory, and (iii) $ 5.0 million, plus ▪ the lesser of (i) 65 % of eligible raw material inventory valued at cost based on a first-in first-out basis (net of intercompany profits) and (ii) 85 % of the net-orderly-liquidation value percentage of eligible raw material inventory In each case, the net-orderly-liquidation value is calculated based on the lower of (i) a first-in first-out basis and (ii) market value, and is (A) net of intercompany profits, (B) net of write-ups and write-downs in value with respect to foreign currency exchange rates and (C) consistent with most recent appraisals received and acceptable to Lender. o $ 22.5 million; and o An amount equal to 200 % of eligible accounts receivable, minus • applicable reserves. The ABL Facility permits both base rate borrowings and borrowings based upon daily simple SOFR (the secured overnight financing rate administered by the Federal Reserve Bank of New York (or its successor)). Borrowings under the ABL Facility bear interest at an annual rate equal to daily simple SOFR plus 150 basis points (if the average monthly excess availability under the ABL Facility is greater than 50%) or 175 basis points (if the average monthly excess availability under the ABL Facility is less than or equal to 50%) or 50 basis points above base rate (if the average monthly excess availability under the ABL Facility is greater than 50%) or 75 basis points above base rate (if the average monthly excess availability under the ABL Facility is less than or equal to 50%), as applicable, with a fee on unutilized commitments at an annual rate of 37.5 basis points and an annual servicing fee of $ 12,000 . The ABL Facility ma tures on January 19, 2026 . The ABL Facility may be prepaid from time to time, in whole or in part, without a prepayment penalty or premium. In addition, customary mandatory prepayments of the loans under the ABL Facility are required upon the occurrence of certain events including, without limitation, outstanding borrowing exposures exceeding the borrowing base and certain dispositions of assets outside of the ordinary course of business. Accrued interest is payable monthly in arrears. The company’s obligations under the ABL Facility (and certain related obligations) are (a) guaranteed by the Guarantor and each of the company’s future domestic subsidiaries is required to guarantee the ABL Facility on a senior secured basis (such guarantors and the company, the “Loan Parties”) and (b) secured by all assets of the Loan Parties, subject to certain exceptions. The liens and other security interests granted by the Loan Parties on the collateral for the benefit of the Lender under the ABL Facility are, subject to certain permitted liens, first-priority. Cash Dominion . Under the terms of the ABL Facility, if (i) an event of default has occurred or (ii) excess borrowing availability under the ABL Facility (based on the lesser of $ 35.0 million and the borrowing base) (the “Excess Availability”) falls below $ 7.0 million at such time, the Loan Parties will become subject to cash dominion, which will require prepayment of loans under the ABL Facility with the cash deposited in certain deposit accounts of the Loan Parties, including a concentration account, and will restrict the Loan Parties’ ability to transfer cash from their concentration account. Such cash dominion period (a “Dominion Period”) shall end when Excess Availability shall be equal to or greater than $ 7.0 million for a period of 60 consecutive days and no event of default is continuing. Financial Covenants . The ABL Facility contains a springing covenant requiring that the company’s fixed charge coverage ratio be no less than 1.10 to 1.00 during any period that (i) an event of default has occurred or (ii) Excess Availability under the ABL Facility falls below $ 5.25 million at such time. Such compliance period shall end when Excess Availability shall be equal to or greater than $ 5.25 million for a period of 60 consecutive days and no event of default is continuing. Affirmative and Restrictive Covenants . The ABL Credit Agreement governing the ABL Facility contains customary representations and warranties, affirmative and negative covenants (subject, in each case, to exceptions and qualifications), and events of defaults, including covenants that limit the company’s ability to, among other things: • incur additional indebtedness; • make investments; • pay dividends and make other restricted payments; • sell certain assets; • create liens; • consolidate, merge, sell or otherwise dispose of all or substantially all of the company’s assets; and • enter into transactions with affiliates. Overall Effective January 19, 2023, interest was charged under the ABL Credit Agreement at a rate (applicable interest rate of 6.56 % and 6.30 % as of July 30, 2023 and April 30, 2023, respectively ) calculated using the Applicable Margin over SOFR based on the the company’s excess availability under the ABL Facility, as defined in the ABL Credit Agreement. Under the Amended Agreement, interest was charged at a rate ( 2.88 % as of July 31, 2022) calculated using the Applicable Margin over SOFR based on the ratio of company ’s consolidated debt to consolidated EBITDA, as defined in the Amended Agreement. There were $ 275,000 of outstanding letters of credit provided by the ABL Credit Agreement and the Amended Agreement, as applicable, as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. As of July 30, 2023, we had $ 725,000 remaining for the issuance of additional letters of credit under the ABL Credit Agreement. There were no borrowings outstanding under either the ABL Credit Agreement or the Amended Credit Agreement, as applicable, as of July 30, 2023, July 31, 2022, or April 30, 2023, respectively. As of July 30, 2023, ou r available borrowings calculated under the provisions of the ABL Credit Agreement totaled $ 25.5 million. Revolving Credit Agreement – China Operations Denominated in Chinese Yuan Renminbi (“RMB”) We have an unsecured credit agreement denominated in RMB with a bank located in China that provides for a line of credit of up to 40 million RMB ($ 5.6 million USD as of July 30, 2023). Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing. The agreement is set to expire on November 24, 2023 . There were no borrowings outstanding under this agreement as of July 30, 2023, July 31, 2022, or April 30, 2023, respectively. Overall Our loan agreements require, among other things, that we maintain compliance with certain financial covenants. As of July 30 , 2023, we complied with our financial covenants. No interest payments were made during the first quarter of fiscal 2024. Interest paid during the first quarter of fiscal 2023 totaled $ 8,000 .

Fair Value

Fair Value	3 Months Ended
	Jul. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	11. Fair Value ASC Topic 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the company’s assumptions (unobservable inputs). Determining where an asset or liability falls within that hierarchy depends on the lowest level input that is significant to the fair value measurement as a whole. An adjustment to the pricing method used within either level 1 or level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy. The hierarchy consists of three broad levels as follows: Level 1 – Quoted market prices in active markets for identical assets or liabilities; Level 2 – Inputs other than level 1 inputs that are either directly or indirectly observable; and Level 3 – Unobservable inputs developed using the company’s estimates and assumptions, which reflect those that market participants would use. The determination of where an asset or liability falls in the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter based on various factors, and it is possible that an asset or liability may be classified differently from quarter to quarter. However, we expect that changes in classifications between different levels will be rare. Recurring Basis The following tables present information about assets measured at fair value on a recurring basis: Fair value measurements as of July 30, 2023, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 7,113 N/A N/A $ 7,113 Growth Allocation Mutual Funds 585 N/A N/A 585 Moderate Allocation Mutual Fund 52 N/A N/A 52 Other 245 N/A N/A 245 Fair value measurements as of July 31, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,853 N/A N/A $ 8,853 Growth Allocation Mutual Funds 464 N/A N/A 464 Moderate Allocation Mutual Fund 82 N/A N/A 82 Other 168 N/A N/A 168 Fair value measurements as of April 30, 2023, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 7,649 N/A N/A $ 7,649 Growth Allocation Mutual Funds 528 N/A N/A 528 Moderate Allocation Mutual Fund 86 N/A N/A 86 Other 208 N/A N/A 208 Investments - Rabbi Trust We have a rabbi trust (the “Trust”) for the participants of our deferred compensation plan (the “Plan”), that enables participants to direct their contributions to various investment options under the Plan. The investments associated with the Trust consist of a money market fund and various mutual funds that are classified as available-for-sale. As of July 30, 2023, our investments associated with the Trust totaled $ 8.0 million, of which $ 791,000 and $ 7.2 million were classified as short-term and long-term, respectively. As of July 31, 2022, our investments associated with the Trust totaled $ 9.6 million, all of which were classified as long-term. As of April 30, 2023, our investments associated with the Trust totaled $ 8.5 million, of which $ 1.4 million and $ 7.1 million were classified as short-term and long-term, respectively. The investments associated with the Trust had an accumulated unrealized gain of $ 76,000 , $ 25,000 , and $ 19,000 as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. The fair value of our long-term investments associated with the Trust approximates their cost basis. Other The carrying amount of our cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued expenses approximated their fair value because of the short maturity of these financial instruments.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Jul. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	12. Net Loss Per Share Basic net loss per share is computed using the weighted-average number of shares outstanding during the period. Diluted net loss per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method. Weighted average shares used in the computation of basic and diluted net loss per share were 12,332,000 and 12,238,000 for the three months ending July 30, 2023 and July 31, 2022, respectively. Shares of unvested common stock that were not included in the computation of diluted net loss per share consist of the following: Three months ended (in thousands) July 30, 2023 July 31, 2022 antidilutive effect from decrease in the price per share of our common stock 2 39 antidilutive effect from net loss incurred during the fiscal year 166 42 total unvested shares of common stock not included in 168 81

Segment Information

Segment Information	3 Months Ended
	Jul. 30, 2023
Segment Reporting [Abstract]
Segment Information	13. Segment Information Overall Our operations are classified into two business segments: mattress fabrics and upholstery fabrics. The mattress fabrics segment manufactures, sources, and sells fabrics and mattress covers primarily to bedding manufacturers. The upholstery fabrics segment develops, manufactures, sources, and sells fabrics primarily to residential and commercial furniture manufacturers. In addition, this segment includes Read, which provides window treatments and sourcing of upholstery fabrics and other products, as well as measuring and installation services for Read’s products, to customers in the hospitality and commercial industries. Read also supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Financial Information We evaluate the operating performance of our business segments based upon (loss) income from operations before certain unallocated corporate expenses and other items that are not expected to occur on a regular basis. Cost of sales for each segment includes costs to develop, manufacture, or source our products, including costs such as raw material and finished goods purchases, direct and indirect labor, overhead, and incoming freight charges. Unallocated corporate expenses primarily represent compensation and benefits for certain executives and their support staff, all costs associated with being a public company, amortization of intangible assets, and other miscellaneous expenses. Segment assets include assets used in the operations of each segment and consist of accounts receivable, inventories, property, plant, and equipment, and right of use assets. Intangible assets are not included in segment assets as these assets are not used by the Chief Operating Decision Maker to evaluate the respective segment’s operating performance, allocate resources to individual segments, or determine executive compensation. Statements of operations for our operating segments are as follows: Three months ended July 30, 2023 July 31, 2022 net sales by segment: mattress fabrics $ 29,222 $ 29,371 upholstery fabrics 27,440 33,233 net sales $ 56,662 $ 62,604 gross profit: mattress fabrics $ 1,994 $ ( 37 ) upholstery fabrics 5,270 4,165 segment gross profit: 7,264 4,128 restructuring related charge (1) ( 179 ) — gross profit $ 7,085 $ 4,128 selling, general, and administrative expenses by segment: mattress fabrics $ 3,393 $ 2,885 upholstery fabrics 3,941 3,622 unallocated corporate expenses 2,495 2,359 selling, general, and administrative expenses $ 9,829 $ 8,866 (loss) income from operations by segment: mattress fabrics $ ( 1,398 ) $ ( 2,921 ) upholstery fabrics 1,328 542 unallocated corporate expenses ( 2,495 ) ( 2,359 ) total segment loss from operations $ ( 2,565 ) $ ( 4,738 ) restructuring related charge (1) ( 179 ) — restructuring expense (2) ( 338 ) — loss from operations $ ( 3,082 ) $ ( 4,738 ) interest income 345 17 other income (expense) 96 ( 82 ) loss before income taxes $ ( 2,641 ) $ ( 4,803 ) (1) Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. (2) Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Balance sheet information for our operating segments follows: (dollars in thousands) July 30, 2023 July 31, 2022 April 30, 2023 Segment assets: Mattress Fabrics: Accounts receivable $ 11,058 $ 12,382 $ 12,396 Inventory 24,579 36,471 25,674 Property, plant and equipment (3) 32,792 37,354 33,749 Right of use assets (4) 2,139 3,232 2,308 Total mattress fabrics assets 70,568 89,439 74,127 Upholstery Fabrics: Accounts receivable 11,554 12,430 12,382 Inventory 19,238 27,278 19,406 Property, plant and equipment (5) 1,491 2,271 1,671 Right of use assets (6) 2,237 7,520 2,618 Total upholstery fabrics assets 34,520 49,499 36,077 Total segment assets 105,088 138,938 110,204 Non-segment assets: Cash and cash equivalents 16,812 18,874 20,964 Short-term investments - rabbi trust 791 — 1,404 Short-term note receivable 252 — 219 Current income taxes receivable 202 798 — Other current assets 3,578 3,840 3,071 Long-term note receivable 1,661 — 1,726 Deferred income taxes 476 546 480 Property, plant and equipment (7) 646 865 691 Right of use assets (8) 3,090 3,804 3,265 Intangible assets 2,158 2,534 2,252 Long-term investments - rabbi trust 7,204 9,567 7,067 Other assets 944 724 840 Total assets $ 142,902 $ 180,490 $ 152,183 (3) The $ 32.8 million as of July 30, 2023, represents property, plant, and equipment of $ 22.1 million, $ 10.1 million, and $ 594,000 located in the U.S., Canada, and Haiti, respectively. The $ 37.4 million as of July 31, 2022, represents property, plant, and equipment of $ 24.7 million, $ 11.9 million, and $ 718,000 located in the U.S., Canada, and Haiti, respectively. The $ 33.7 million as of April 30, 2023, represents property, plant, and equipment of $ 22.7 million, $ 10.4 million, and $ 608,000 located in the U.S., Canada, and Haiti, respectively. (4) The $ 2.1 million as of July 30, 2023, represents right of use assets of $ 1.4 million and $ 720,000 located in Haiti and Canada, respectively. The $ 3.2 million as of July 31, 2022, represents right of use assets of $ 1.9 million, $ 1.1 million, and $ 228,000 located in Haiti, the U.S., and Canada, respectively. The $ 2.3 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 776,000 located in Haiti and Canada, respectively. (5) The $ 1.5 million as of July 30, 2023, represents property, plant, and equipment of $ 1.0 million, $ 327,000 , and $ 159,000 located in the U.S., Haiti, and China, respectively. The $ 2.3 million as of July 31, 2022, represents property, plant, and equipment of $ 1.1 million, $ 988,000 , and $ 232,000 located in the U.S., Haiti, and China, respectively. The $ 1.7 million as of April 30, 2023, represents property, plant, and equipment of $ 974,000 , $ 592,000 , and $ 105,000 located in the U.S., Haiti, and China, respectively. (6) The $ 2.2 million as of July 30, 2023, represents right of use assets of $ 1.2 million and $ 977,000 located in China and the U.S., respectively. The $ 7.5 million as of July 31, 2022, represents right of use assets of $ 3.4 million, $ 2.5 million, and $ 1.6 million located in China, Haiti, and the U.S., respectively. The $ 2.6 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 1.1 million located in China and the U.S., respectively. (7) The $ 646,000 , $ 865,000 , and $ 691,000 as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent property, plant, and equipment associated with unallocated corporate department and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. (8) The $ 3.1 million, $ 3.8 million, and $ 3.3 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent right of use assets located in the U.S. Information about capital expenditures and depreciation expense for our operating segments follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Capital expenditures (9): Mattress Fabrics $ 523 $ 197 Upholstery Fabrics 158 360 Unallocated Corporate 33 26 Total capital expenditures $ 714 $ 583 Depreciation expense: Mattress Fabrics $ 1,455 $ 1,568 Upholstery Fabrics 180 202 Total depreciation expense $ 1,635 $ 1,770 (9) Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Income Taxes

Income Taxes	3 Months Ended
	Jul. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes Effective Income Tax Rate We recorded income tax expense of $ 701,000 , or ( 26.5 %) of loss before income taxes, for the three-month period ending July 30, 2023, compared with income tax expense of $ 896,000 , or ( 18.7 %) of loss before income taxes, for the three-month period ending July 31, 2022. Our effective income tax rates for the three-month periods ended July 30, 2023, and July 31, 2022, were based upon the estimated effective income tax rate applicable for the full year after giving effect to any significant items related specifically to interim periods. When calculating the annual estimated effective income tax rates for the three-month periods ended July 30, 2023, and July 31, 2022, we were subject to loss limitation rules. These loss limitation rules require any taxable loss associated with our U.S. or foreign operations to be excluded from the annual estimated effective income tax rate calculation if it was determined that no income tax benefit could be recognized during the current fiscal year. The effective income tax rate can be affected over the fiscal year by the mix and timing of actual earnings from our U.S. operations and foreign subsidiaries located in China, Canada, and Haiti versus annual projections, as well as changes in foreign currency exchange rates in relation to the U.S. dollar. The following schedule summarizes the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements for the three-month periods ending July 30, 2023, and July 31, 2022: July 30, July 31, 2023 2022 U.S. federal income tax rate 21.0 % 21.0 % U.S. valuation allowance ( 34.1 ) ( 35.4 ) Withholding taxes associated with foreign jurisdictions ( 9.7 ) ( 5.0 ) Foreign income tax rate differential ( 6.0 ) 2.7 Stock-based compensation — ( 2.1 ) Tax effects of local currency foreign exchange gains (losses) 2.3 1.4 Other — ( 1.3 ) ( 26.5 %) ( 18.7 %) Our consolidated effective income tax rates during the first quarter of fiscal 2024 and the first quarter of fiscal 2023 were both adversely affected by the mix of earnings between our U.S. operations and foreign subsidiaries, as our taxable income stems from our operations located in China and Canada, which have higher income tax rates than the U.S. In addition, during the first quarters of fiscal 2024 and 2023, we incurred pre-tax losses associated with our U.S. operations, for which an income tax benefit was not recorded due to the full valuation allowance applied against our U.S. net deferred income tax assets. However, the income tax charge associated with the full valuation allowance applied against our U.S. net deferred income tax assets was lower during the first quarter of fiscal 2024 compared with the first quarter of fiscal 2023, as our $( 3.3 ) million U.S. pre-tax loss incurred during the first quarter of fiscal 2024 was much lower than the $( 7.2 ) million U.S. pre-tax loss incurred during the first quarter of fiscal 2023. During the first quarter of fiscal 2024, we incurred a lower consolidated pre-tax loss totaling $( 2.6 ) million, compared with $( 4.8 ) million during the first quarter of fiscal 2023. As a result, the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements were more pronounced during the first quarter of fiscal 2024, as compared with the first quarter of fiscal 2023. U.S. Valuation Allowance We evaluate the realizability of our U.S. net deferred income tax assets to determine if a valuation allowance is required. We assess whether a valuation allowance should be established based on the consideration of all available evidence using a “more-likely-than-not” standard, with significant weight being given to evidence that can be objectively verified. Since the company operates in multiple jurisdictions, we assess the need for a valuation allowance on a jurisdiction-by-jurisdiction basis, considering the effects of local tax law. As of July 30, 2023, we evaluated the realizability of our U.S. net deferred income tax assets to determine if a full valuation allowance was required. Based on our assessment, we determined we still have a recent history of significant cumulative U.S. pre-tax losses, in that we experienced U.S. pre-tax losses during each of the last three fiscal years from 2021 through 2023, and we are currently expecting significant U.S. pre-tax losses to continue during fiscal 2024. As a result of the significant weight of this negative evidence, we believe it is more likely than not that our U.S. deferred income tax assets will not be fully realizable, and therefore we provided for a full valuation allowance against our U.S. net deferred income tax assets. Based on our assessments as of July 30, 2023, July 31, 2022, and April 30, 2023, valuation allowances against our net deferred income tax assets pertain to the following: (dollars in thousands) July 30, 2023 July 31, 2022 April 30, 2023 U.S. federal and state net deferred income tax assets $ 17,246 11,006 16,345 U.S. capital loss carryforward 2,330 2,330 2,330 $ 19,576 13,336 18,675 Undistributed Earnings We assess whether the undistributed earnings from our foreign subsidiaries will be reinvested indefinitely or eventually distributed to our U.S. parent company and whether we are required to record a deferred income tax liability for those undistributed earnings from foreign subsidiaries that will not be reinvested indefinitely. As of July 30, 2023, we assessed the liquidity requirements of our U.S. parent company and determined that our undistributed earnings and profits from our foreign subsidiaries would not be reinvested indefinitely and would eventually be distributed to our U.S. parent company. The conclusion reached from this assessment was consistent with prior reporting periods. As a result of the 2017 Tax Cuts and Jobs Act, a U.S. corporation is allowed a 100 % dividend received deduction for earnings and profits received from a 10 % owned foreign corporation. Therefore, a deferred income tax liability will be required only for unremitted withholding taxes associated with earnings and profits generated by our foreign subsidiaries that will ultimately be repatriated to the U.S. parent company. As a result, as of July 30, 2023, July 31, 2022, and April 30, 2023, we recorded a deferred income tax liabi lity of $ 4.4 mi llion, $ 3.8 million, and $ 4.2 million, respectively. Uncertain Income Tax Positions An unrecognized income tax benefit for an uncertain income tax position can be recognized in the first interim period if the more-likely-than-not recognition threshold is met by the end of the reporting period, or is effectively settled through examination, negotiation, or litigation, or the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired. If it is determined that any of the above conditions occur regarding our uncertain income tax positions, an adjustment to our unrecognized income tax benefit will be recorded at that time. As of July 30, 2023, we had a $ 1.2 million total gross unrecognized income tax benefit, of which the entire amount was classified as income taxes payable – long-term in the accompanying Consolidated Balance Sheets. As of July 31, 2022, we had a $ 1.1 million total gross unrecognized income tax benefit, of which the entire amount was recorded to income taxes payable – long-term in the accompanying Consolidated Balance Sheets. As of April 30, 2023, we had a $ 1.2 million total gross unrecognized income tax benefit, of which the entire amount was classified as income taxes payable – long-term in the accompanying Consolidated Balance Sheets. These unrecognized income tax benefits would favorably affect income tax expense in future periods by $ 1.2 million, $ 1.1 million, and $ 1.2 million, as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively. Our gross unrecognized income tax benefit of $ 1.2 million as o f July 30, 2023, relates to income tax positions for which significant change is currently not expected within the next year. Income Taxes Paid The following table sets forth taxes paid by jurisdiction: July 30, July 31, (dollars in thousands) 2023 2022 China Income Taxes, Net of Refunds $ 915 $ 548 Canada Income Taxes, Net of Refunds 197 82 $ 1,112 $ 630

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jul. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	15. Stock-Based Compensation Equity Incentive Plan Description On September 16, 2015, our shareholders approved an equity incentive plan titled the Culp, Inc. 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan authorizes the grant of stock options intended to qualify as incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based units, and other equity and cash related awards as determined by the Compensation Committee of our board of directors. An aggregate of 1,200,000 shares of common stock were authorized for issuance under the 2015 Plan, with certain sub-limits that would apply with respect to specific types of awards that may be issued as defined in the 2015 Plan. As of July 30, 2023, there were 207,650 shares available for future equity-based grants under the 2015 Plan. Performance-Based Restricted Stock Units Senior Executives We grant performance-based restricted stock units to senior executives which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit award agreements. The number of shares of common stock that are earned based on performance targets that have been achieved may be adjusted based on a market-based total shareholder return component as defined in the related restricted stock unit award agreements. Our performance-based restricted stock units granted to senior executives were measured based on their fair market value on the date of grant. The fair market value per share was determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock for the performance-based component. There were no performance-based restricted stock units issued to senior executives during the first quarter of fiscal 2024 or the first quarter of fiscal 2023. Key Employees We grant performance-based restricted stock units to key employees which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit award agreements. Our performance-based restricted stock units granted to key employees were measured based on the fair market value (the closing price of our common stock) on the date of grant. No market-based total shareholder return component was included in these awards. There were no performance-based restricted stock units issued to key employees in the first quarter of fiscal 2024 or the first quarter of fiscal 2023. Overall The following table summarizes information related to our grants of performance-based restricted stock units associated with senior executives and key employees that were unvested as of July 30, 2023: (3) (4) Performance-Based Restricted Stock Restricted Stock Units Expected Date of Grant Units Awarded to Vest Price Per Share Vesting Period August 10, 2022 (1) 178,714 — $ 5.77 (5) 3 years July 22, 2021 (1) 122,476 — $ 15.93 (6) 3 years July 22, 2021 (2) 20,500 — $ 14.75 (7) 3 years (1) Performance-based restricted stock units awarded to senior executives. (2) Performance-based restricted stock units awarded to key employees. (3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. (4) Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance goals will be met and how many shares are expected to be earned as of the end of the vesting period. These amounts represent the number of shares that were expected to vest as of July 30, 2023. (5) Price per share represents the fair market value per share ($ 1.14 per $1, or an increase of $ 0.71 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 5.06 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 10, 2022. (6) Price per share represents the fair market value per share ($ 1.08 per $1, or an increase of $ 1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 14.75 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. (7) Price per share represents the closing price of our common stock on the date of grant. There were no performance-based restricted stock units that vested during the three-month period ended July 30, 2023. The following table summarizes information related to our performance-based restricted stock units that vested during the three-month period ended July 31, 2022: Performance-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 545 $ 3 $ 5.10 Fiscal 2023 (2) 437 $ 2 $ 5.10 (1) Performance-based restricted stock units vested by senior executives. (2) Performance-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested. No compensation expense was recorded during the three-month period ended July 30, 2023, associated with the performance-based restrictive stock units. We recorded compensation expense of $ 2,000 within selling, general, and administrative expenses for the three-month period ended July 31, 2022, associated with the performance-based restrictive stock units. Compensation expense is recorded based on an assessment each reporting period to determine the probability of whether or not certain performance targets will be met and how many shares are expected to be earned as of the end of the vesting period. If certain performance goals are not expected to be achieved, compensation expense would not be recorded, and any previously recognized compensation expense would be reversed. Time-Based Restricted Stock Units The following table summarizes information related to our grants of time-based restricted stock unit awards associated with senior executives and key employees that were unvested as of July 30, 2023: Time-Based Restricted Stock (1) Date of Grant Units Awarded Price Per Share Vesting Period September 6, 2022 37,671 $ 4.58 1 to 3 years August 10, 2022 78,225 $ 5.06 3 years July 22, 2021 30,835 $ 14.75 3 years August 6, 2020 129,095 $ 11.01 3 years August 2, 2018 10,000 $ 24.35 5 years (1) Price per share represents closing price of common stock on the date the respective award was granted. There were no time-based restricted stock units that vested during the three-month period ending July 30, 2023. The following table summarizes information related to our time-based restricted stock units that vested during the three-month period ending July 31, 2022: Time-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 19,786 $ 101 $ 5.10 Fiscal 2023 (2) 13,013 $ 66 $ 5.10 (1) Time-based restricted stock units vested by senior executives. (2) Time-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested. We recor ded compensation expense of $ 238,000 and $ 166,000 within selling, general, and administrative expenses associated with our time-based restricted stock unit awards for the three-month period ended July 30, 2023, and July 31, 2022, respectively. As of July 30, 2023, the remaining unrecognized compensation expense related to our time-based restricted stock units was $ 484,000 , which is expected to be recognized over a weighted average vesting period of 1.7 years. As of July 30, 2023, the time-based restricted stock units that are expected to vest had a fair value totaling $ 1.6 million. Common Stock Awards We granted a total of 16,616 shares of common stock to our outside directors on July 3, 2023. These shares of common stock vested immediately and were measured at their fair value on the date of the grant. The fair value of these awards was $ 5.04 per share on July 3, 2023, which represents the closing price of our common stock on the date of grant. We granted a total of 19,753 shares of common stock to our outside directors on July 1, 2022. These shares of common stock vested immediately and were measured at their fair value on the date of the grant. The fair value of these awards was $ 4.24 per share on July 1, 2022, which represents the closing price of our common stock on the date of grant. We recorded $ 84,000 and $ 84,000 of compensation expense within selling, general, and administrative expenses for common stock awards to our outside directors for the three-month periods ended July 30, 2023, and July 31, 2022, respectively.

Leases

Leases	3 Months Ended
	Jul. 30, 2023
Assets and Liabilities, Lessee [Abstract]
Leases	16. Leases Overview We lease manufacturing facilities, showroom and office space, distribution centers, and equipment under operating lease arrangements. Our operating leases have remaining lease terms of one to eight years , with renewal options for additional periods ranging up to twelve years . Balance Sheet The right of use assets and lease liabilities associated with our operating leases as of July 30, 2023, July 31, 2022, and April 30, 2023, are as follows: (dollars in thousands) July 30, July 31, April 30, Right of use assets $ 7,466 $ 14,556 $ 8,191 Operating lease liability - current 2,558 3,126 2,640 Operating lease liability – noncurrent 2,994 6,160 3,612 Supplemental Cash Flow Information Three Months Three Months (dollars in thousands) July 30, 2023 July 31, 2022 Operating lease liability payments $ 656 $ 920 Right of use assets exchanged for lease liabilities — — Operating lease expense for the three-month periods ended July 30, 2023, and July 31, 2022, was $ 774,000 and $ 1.1 million, respectively. Short-term lease and variable lease expenses were immaterial for the three-month periods ended July 30, 2023, and July 31, 2022. Other Information Maturity of our operating lease liabilities for the remainder of fiscal 2024, the subsequent next four fiscal years, and thereafter follows: (dollars in thousands) 2024 $ 1,962 2025 1,871 2026 609 2027 344 2028 225 Thereafter 804 $ 5,815 Less: interest ( 263 ) Present value of lease liabilities $ 5,552 As of July 30, 2023, the weighted average remaining lease term and discount rate for our operating leases follows: July 30, 2023 Weighted average lease term (in years) 3.83 Weighted average discount rate 3.49 %

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Litigation The company is involved in legal proceedings and claims which have arisen in the ordinary course of business. Management has determined that it is not reasonably possible that these actions, when ultimately concluded and settled, will have a material adverse effect upon the consolidated financial position, consolidated results of operations, or consolidated cash flows of the company. Accounts Payable – Capital Expenditures As of July 30, 2023, July 31, 2022, and April 30, 2023, we had amounts due regarding capital expenditures totaling $ 257,000 , $ 346,000 , and $ 56,000 , respectively, which pertained to outstanding vendor invoices, none of which were financed. Purchase Commitments – Capital Expenditures As of July 30, 2023, we had open purchase commitments to acquire equipment for our mattress fabrics segment totaling $ 2.0 million.

Statutory Reserves

Statutory Reserves	3 Months Ended
	Jul. 30, 2023
Text Block [Abstract]
Statutory Reserves	18. Statutory Reserves Our subsidiary located in China was required to transfer 10 % of its net income, as determined in accordance with the People’s Republic of China (PRC) accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reached 50 % of the company’s registered capital. As of July 30, 2023, the statutory surplus reserve fund represents the 50 % registered capital requirement, and therefore, our subsidiary located in China is no longer required to transfer 10 % of its net income in accordance with PRC accounting rules and regulations. The transfer to this reserve must be made before distributions of any dividend to shareholders. As of July 30, 2023, the company’s statutory surplus reserve was $ 4.1 million. The statutory surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any. The statutory surplus reserve fund may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them provided that the remaining reserve balance after such issue is not less than 25 % of the registered capital. The company’s subsidiary located in China can transfer funds to the parent company, except for the statutory surplus reserve of $ 4.1 million, to assist with debt repayment, capital expenditures, and other expenses of the company’s business.

Common Stock Repurchase Program

Common Stock Repurchase Program	3 Months Ended
	Jul. 30, 2023
Text Block [Abstract]
Common Stock Repurchase Program	19. Common Stock Repurchase Program In March 2020, our board of directors approved an authorization for us to acquire up to $ 5.0 million of our common stock. Under the common stock repurchase program, shares may be purchased from time to time in open market transactions, block trades, through plans established under the Securities Exchange Act Rule 10b5-1, or otherwise. The number of shares purchased and the timing of such purchases are based on working capital requirements, market and general business conditions, and other factors, including alternative investment opportunities. We did no t repurchase any shares of common stock during the three-month periods ending July 30, 2023 and July 31, 2022, respectively. As of July 30 , 2023, $ 3.2 m illion is available for additional repurchases of our common stock.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 30, 2023
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements There were no recently adopted accounting pronouncements during the first quarter of fiscal 2024. Recently Issued Accounting Pronouncements Currently, there are no new recent accounting pronouncements that are expected to have a material effect on our consolidated financial statements.

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Tables)	3 Months Ended
	Jul. 30, 2023
Receivables [Abstract]
Summary of the Activity in the Allowance for Doubtful Accounts	A summary of the activity in the allowance for doubtful accounts follows: Three Months Ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance $ 342 $ 292 Provision for bad debts 129 57 Write-offs, net of recoveries ( 30 ) - Ending balance $ 441 $ 349

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Jul. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Activity Associated with Deferred Revenue	A summary of the activity associated with deferred revenue follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance $ 1,192 $ 520 Revenue recognized on contract liabilities ( 1,087 ) ( 821 ) Payments received for services not yet rendered 921 1,669 Ending balance $ 1,026 $ 1,368
Summary of Disaggregation of Revenue	The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 30, 2023: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,222 $ 24,774 $ 53,996 Services transferred over time — 2,666 2,666 Total Net Sales $ 29,222 $ 27,440 $ 56,662 The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 31, 2022: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,371 $ 31,523 $ 60,894 Services transferred over time — 1,710 1,710 Total Net Sales $ 29,371 $ 33,233 $ 62,604

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jul. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	A summary of inventories follows: (dollars in thousands) July 30, July 31, April 30, Raw materials $ 8,408 $ 12,690 $ 7,908 Work-in-process 2,430 4,985 2,602 Finished goods 32,979 46,074 34,570 $ 43,817 $ 63,749 $ 45,080

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jul. 30, 2023
Summary of Intangible Assets	A summary of intangible assets follows: (dollars in thousands) July 30, July 31, April 30, Tradename $ 540 $ 540 $ 540 Customer relationships, net 1,260 1,561 1,335 Non-compete agreement, net 358 433 377 $ 2,158 $ 2,534 $ 2,252
Customer Relationships [Member]
Summary of Change in Carrying Amount of Finite-Lived Intangible Assets	A summary of the change in the carrying amount of our customer relationships follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance, net $ 1,335 $ 1,636 Amortization expense ( 75 ) ( 75 ) Ending balance, net $ 1,260 $ 1,561
Non-Compete Agreement [Member]
Summary of Change in Carrying Amount of Finite-Lived Intangible Assets	A summary of the change in the carrying amount of our non-compete agreement follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Beginning balance, net $ 377 $ 452 Amortization expense ( 19 ) ( 19 ) Ending balance, net $ 358 $ 433

Note Receivable (Tables)

Note Receivable (Tables)	3 Months Ended
	Jul. 30, 2023
Receivables [Abstract]
Summary of Remaining Future Principal Payments	The following table represents the remaining future principal payments as of July 30, 2023: (dollars in thousands) 2024 $ 270 2025 360 2026 360 2027 360 2028 360 Thereafter 600 Undiscounted value of note receivable $ 2,310 Less: unearned interest income ( 397 ) Present value of note receivable $ 1,913

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Jul. 30, 2023
Text Block [Abstract]
Summary of Accrued Expenses	A summary of accrued expenses follows: (dollars in thousands) July 30, July 31, April 30, Compensation, commissions and related benefits $ 3,375 $ 3,890 $ 5,800 Other accrued expenses 3,240 3,268 2,733 $ 6,615 $ 7,158 $ 8,533

Upholstery Fabrics Segment Re_2

Upholstery Fabrics Segment Restructuring (Tables)	3 Months Ended
	Jul. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Expense and Restructuring Related Charges	The following summarizes our restructuring expense and restructuring related charges from the above restructuring activity for the three months ending July 30, 2023: Three Months Ended (dollars in thousands) July 30, 2023 Employee termination benefits $ 101 Impairment loss - equipment 237 Loss on disposal and markdowns of inventory 179 Restructuring expense and restructuring related charges (1) $ 517 (1) Of the total $ 517,000 , $ 338,000 and $ 179,000 were recorded within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ending July 30, 2023.
Summary of Activity in Accrued Restructuring	The following summarizes the activity in accrued restructuring costs for the three-month period ending July 30, 2023: Employee Termination (dollars in thousands) Benefits Total Beginning balance $ — $ — Expenses incurred 101 101 Payments ( 91 ) ( 91 ) Ending balance $ 10 $ 10

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Jul. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	The following tables present information about assets measured at fair value on a recurring basis: Fair value measurements as of July 30, 2023, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 7,113 N/A N/A $ 7,113 Growth Allocation Mutual Funds 585 N/A N/A 585 Moderate Allocation Mutual Fund 52 N/A N/A 52 Other 245 N/A N/A 245 Fair value measurements as of July 31, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,853 N/A N/A $ 8,853 Growth Allocation Mutual Funds 464 N/A N/A 464 Moderate Allocation Mutual Fund 82 N/A N/A 82 Other 168 N/A N/A 168 Fair value measurements as of April 30, 2023, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 7,649 N/A N/A $ 7,649 Growth Allocation Mutual Funds 528 N/A N/A 528 Moderate Allocation Mutual Fund 86 N/A N/A 86 Other 208 N/A N/A 208

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Jul. 30, 2023
Earnings Per Share [Abstract]
Schedule of Unvested Common Stock not Included in the Computation of Diluted Net Loss Per Share	Shares of unvested common stock that were not included in the computation of diluted net loss per share consist of the following: Three months ended (in thousands) July 30, 2023 July 31, 2022 antidilutive effect from decrease in the price per share of our common stock 2 39 antidilutive effect from net loss incurred during the fiscal year 166 42 total unvested shares of common stock not included in 168 81

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jul. 30, 2023
Segment Reporting [Abstract]
Schedule of Operating Segments Information	Statements of operations for our operating segments are as follows: Three months ended July 30, 2023 July 31, 2022 net sales by segment: mattress fabrics $ 29,222 $ 29,371 upholstery fabrics 27,440 33,233 net sales $ 56,662 $ 62,604 gross profit: mattress fabrics $ 1,994 $ ( 37 ) upholstery fabrics 5,270 4,165 segment gross profit: 7,264 4,128 restructuring related charge (1) ( 179 ) — gross profit $ 7,085 $ 4,128 selling, general, and administrative expenses by segment: mattress fabrics $ 3,393 $ 2,885 upholstery fabrics 3,941 3,622 unallocated corporate expenses 2,495 2,359 selling, general, and administrative expenses $ 9,829 $ 8,866 (loss) income from operations by segment: mattress fabrics $ ( 1,398 ) $ ( 2,921 ) upholstery fabrics 1,328 542 unallocated corporate expenses ( 2,495 ) ( 2,359 ) total segment loss from operations $ ( 2,565 ) $ ( 4,738 ) restructuring related charge (1) ( 179 ) — restructuring expense (2) ( 338 ) — loss from operations $ ( 3,082 ) $ ( 4,738 ) interest income 345 17 other income (expense) 96 ( 82 ) loss before income taxes $ ( 2,641 ) $ ( 4,803 ) (1) Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. (2) Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Balance sheet information for our operating segments follows: (dollars in thousands) July 30, 2023 July 31, 2022 April 30, 2023 Segment assets: Mattress Fabrics: Accounts receivable $ 11,058 $ 12,382 $ 12,396 Inventory 24,579 36,471 25,674 Property, plant and equipment (3) 32,792 37,354 33,749 Right of use assets (4) 2,139 3,232 2,308 Total mattress fabrics assets 70,568 89,439 74,127 Upholstery Fabrics: Accounts receivable 11,554 12,430 12,382 Inventory 19,238 27,278 19,406 Property, plant and equipment (5) 1,491 2,271 1,671 Right of use assets (6) 2,237 7,520 2,618 Total upholstery fabrics assets 34,520 49,499 36,077 Total segment assets 105,088 138,938 110,204 Non-segment assets: Cash and cash equivalents 16,812 18,874 20,964 Short-term investments - rabbi trust 791 — 1,404 Short-term note receivable 252 — 219 Current income taxes receivable 202 798 — Other current assets 3,578 3,840 3,071 Long-term note receivable 1,661 — 1,726 Deferred income taxes 476 546 480 Property, plant and equipment (7) 646 865 691 Right of use assets (8) 3,090 3,804 3,265 Intangible assets 2,158 2,534 2,252 Long-term investments - rabbi trust 7,204 9,567 7,067 Other assets 944 724 840 Total assets $ 142,902 $ 180,490 $ 152,183 (3) The $ 32.8 million as of July 30, 2023, represents property, plant, and equipment of $ 22.1 million, $ 10.1 million, and $ 594,000 located in the U.S., Canada, and Haiti, respectively. The $ 37.4 million as of July 31, 2022, represents property, plant, and equipment of $ 24.7 million, $ 11.9 million, and $ 718,000 located in the U.S., Canada, and Haiti, respectively. The $ 33.7 million as of April 30, 2023, represents property, plant, and equipment of $ 22.7 million, $ 10.4 million, and $ 608,000 located in the U.S., Canada, and Haiti, respectively. (4) The $ 2.1 million as of July 30, 2023, represents right of use assets of $ 1.4 million and $ 720,000 located in Haiti and Canada, respectively. The $ 3.2 million as of July 31, 2022, represents right of use assets of $ 1.9 million, $ 1.1 million, and $ 228,000 located in Haiti, the U.S., and Canada, respectively. The $ 2.3 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 776,000 located in Haiti and Canada, respectively. (5) The $ 1.5 million as of July 30, 2023, represents property, plant, and equipment of $ 1.0 million, $ 327,000 , and $ 159,000 located in the U.S., Haiti, and China, respectively. The $ 2.3 million as of July 31, 2022, represents property, plant, and equipment of $ 1.1 million, $ 988,000 , and $ 232,000 located in the U.S., Haiti, and China, respectively. The $ 1.7 million as of April 30, 2023, represents property, plant, and equipment of $ 974,000 , $ 592,000 , and $ 105,000 located in the U.S., Haiti, and China, respectively. (6) The $ 2.2 million as of July 30, 2023, represents right of use assets of $ 1.2 million and $ 977,000 located in China and the U.S., respectively. The $ 7.5 million as of July 31, 2022, represents right of use assets of $ 3.4 million, $ 2.5 million, and $ 1.6 million located in China, Haiti, and the U.S., respectively. The $ 2.6 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 1.1 million located in China and the U.S., respectively. (7) The $ 646,000 , $ 865,000 , and $ 691,000 as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent property, plant, and equipment associated with unallocated corporate department and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. (8) The $ 3.1 million, $ 3.8 million, and $ 3.3 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent right of use assets located in the U.S. Information about capital expenditures and depreciation expense for our operating segments follows: Three months ended (dollars in thousands) July 30, 2023 July 31, 2022 Capital expenditures (9): Mattress Fabrics $ 523 $ 197 Upholstery Fabrics 158 360 Unallocated Corporate 33 26 Total capital expenditures $ 714 $ 583 Depreciation expense: Mattress Fabrics $ 1,455 $ 1,568 Upholstery Fabrics 180 202 Total depreciation expense $ 1,635 $ 1,770 (9) Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jul. 30, 2023
Income Tax Disclosure [Abstract]
Summary of Differences in Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate	The following schedule summarizes the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements for the three-month periods ending July 30, 2023, and July 31, 2022: July 30, July 31, 2023 2022 U.S. federal income tax rate 21.0 % 21.0 % U.S. valuation allowance ( 34.1 ) ( 35.4 ) Withholding taxes associated with foreign jurisdictions ( 9.7 ) ( 5.0 ) Foreign income tax rate differential ( 6.0 ) 2.7 Stock-based compensation — ( 2.1 ) Tax effects of local currency foreign exchange gains (losses) 2.3 1.4 Other — ( 1.3 ) ( 26.5 %) ( 18.7 %)
Summary of Valuation Allowances Against Net Deferred Income Tax Assets	Based on our assessments as of July 30, 2023, July 31, 2022, and April 30, 2023, valuation allowances against our net deferred income tax assets pertain to the following: (dollars in thousands) July 30, 2023 July 31, 2022 April 30, 2023 U.S. federal and state net deferred income tax assets $ 17,246 11,006 16,345 U.S. capital loss carryforward 2,330 2,330 2,330 $ 19,576 13,336 18,675
Summary of Taxes Paid	The following table sets forth taxes paid by jurisdiction: July 30, July 31, (dollars in thousands) 2023 2022 China Income Taxes, Net of Refunds $ 915 $ 548 Canada Income Taxes, Net of Refunds 197 82 $ 1,112 $ 630

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jul. 30, 2023
Performance Based Restricted Stock Units [Member]
Summary of Vested Restricted Stock Units	The following table summarizes information related to our performance-based restricted stock units that vested during the three-month period ended July 31, 2022: Performance-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 545 $ 3 $ 5.10 Fiscal 2023 (2) 437 $ 2 $ 5.10 (1) Performance-based restricted stock units vested by senior executives. (2) Performance-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested.
Time-Based Restricted Stock Units [Member]
Summary of Vested Restricted Stock Units	The following table summarizes information related to our time-based restricted stock units that vested during the three-month period ending July 31, 2022: Time-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 19,786 $ 101 $ 5.10 Fiscal 2023 (2) 13,013 $ 66 $ 5.10 (1) Time-based restricted stock units vested by senior executives. (2) Time-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested.
Executive officers and key employees [Member]
Summary of Grants of Performance Based Restricted Stock Units	The following table summarizes information related to our grants of performance-based restricted stock units associated with senior executives and key employees that were unvested as of July 30, 2023: (3) (4) Performance-Based Restricted Stock Restricted Stock Units Expected Date of Grant Units Awarded to Vest Price Per Share Vesting Period August 10, 2022 (1) 178,714 — $ 5.77 (5) 3 years July 22, 2021 (1) 122,476 — $ 15.93 (6) 3 years July 22, 2021 (2) 20,500 — $ 14.75 (7) 3 years (1) Performance-based restricted stock units awarded to senior executives. (2) Performance-based restricted stock units awarded to key employees. (3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. (4) Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance goals will be met and how many shares are expected to be earned as of the end of the vesting period. These amounts represent the number of shares that were expected to vest as of July 30, 2023. (5) Price per share represents the fair market value per share ($ 1.14 per $1, or an increase of $ 0.71 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 5.06 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 10, 2022. (6) Price per share represents the fair market value per share ($ 1.08 per $1, or an increase of $ 1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 14.75 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. (7) Price per share represents the closing price of our common stock on the date of grant.
Senior Executives and Management [Member] | Time-Based Restricted Stock Units [Member]
Summary of Grants of Time-Based Restricted Stock Unit Awards	The following table summarizes information related to our grants of time-based restricted stock unit awards associated with senior executives and key employees that were unvested as of July 30, 2023: Time-Based Restricted Stock (1) Date of Grant Units Awarded Price Per Share Vesting Period September 6, 2022 37,671 $ 4.58 1 to 3 years August 10, 2022 78,225 $ 5.06 3 years July 22, 2021 30,835 $ 14.75 3 years August 6, 2020 129,095 $ 11.01 3 years August 2, 2018 10,000 $ 24.35 5 years (1) Price per share represents closing price of common stock on the date the respective award was granted.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 30, 2023
Assets and Liabilities, Lessee [Abstract]
Summary of right of use assets and lease liabilities	The right of use assets and lease liabilities associated with our operating leases as of July 30, 2023, July 31, 2022, and April 30, 2023, are as follows: (dollars in thousands) July 30, July 31, April 30, Right of use assets $ 7,466 $ 14,556 $ 8,191 Operating lease liability - current 2,558 3,126 2,640 Operating lease liability – noncurrent 2,994 6,160 3,612
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Months Three Months (dollars in thousands) July 30, 2023 July 31, 2022 Operating lease liability payments $ 656 $ 920 Right of use assets exchanged for lease liabilities — —
Leases-Other Information	Other Information Maturity of our operating lease liabilities for the remainder of fiscal 2024, the subsequent next four fiscal years, and thereafter follows: (dollars in thousands) 2024 $ 1,962 2025 1,871 2026 609 2027 344 2028 225 Thereafter 804 $ 5,815 Less: interest ( 263 ) Present value of lease liabilities $ 5,552
Summary of weighted average remaining lease term and discount rate	As of July 30, 2023, the weighted average remaining lease term and discount rate for our operating leases follows: July 30, 2023 Weighted average lease term (in years) 3.83 Weighted average discount rate 3.49 %

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Non-cash inventory charges	$ (717)	$ 1,421

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts - Summary of the Activity in the Allowance for Doubtful Accounts (Detail) - Allowance for doubtful accounts [Member] - USD ($)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 342,000	$ 292,000
Provision for bad debts	129,000	57,000
Write-offs, net of recoveries	(30,000)
Ending balance	$ 441,000	$ 349,000

Allowance for Doubtful Accoun_4

Allowance for Doubtful Accounts - Narrative (Detail) - USD ($)	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022	May 01, 2022
Allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowance for doubtful accounts	$ 441,000	$ 342,000	$ 349,000	$ 292,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Detail)	3 Months Ended
	Jul. 30, 2023 USD ($) Segment	Apr. 30, 2023 USD ($)	Jul. 31, 2022 USD ($)
Contract Assets and Liabilities [Line Items]
Number of operating segments | Segment	2
Contract assets recognized | $	$ 0	$ 0	$ 0

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of the activity associated with deferred revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023		Jul. 31, 2022
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 1,192	[1]	$ 520
Revenue recognized on contract liabilities	(1,087)		(821)
Payments received for services not yet rendered	921		1,669
Ending balance	$ 1,026		$ 1,368
[1] Derived from audited consolidated financial statements.

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 56,662	$ 62,604
Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	53,996	60,894
Transferred over Time [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	2,666	1,710
Mattress Fabrics [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	29,222	29,371
Mattress Fabrics [Member] | Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	29,222	29,371
Upholstery Fabrics [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	27,440	33,233
Upholstery Fabrics [Member] | Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	24,774	31,523
Upholstery Fabrics [Member] | Transferred over Time [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 2,666	$ 1,710

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 8,408	$ 7,908		$ 12,690
Work-in-process	2,430	2,602		4,985
Finished goods	32,979	34,570		46,074
Inventories	$ 43,817	$ 45,080	[1]	$ 63,749
[1] Derived from audited consolidated financial statements.

Inventories - Narrative (Detail

Inventories - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Inventory [Line Items]
Non-cash inventory charges	$ 717,000
Adjustments made to inventory markdowns	896,000
Exit of Cut and Sew Upholstery Fabrics Operation [Member] | Ouanaminthe, Haiti [Member]
Inventory [Line Items]
Partially offset charge for markdowns of inventory	$ 179,000
Mattress and Upholstery Fabrics [Member]
Inventory [Line Items]
Non-cash inventory charges		$ 1,400,000

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022	May 01, 2022
Intangible Assets [Line Items]
Tradename	$ 540	$ 540		$ 540
Intangible assets	2,158	2,252	[1]	2,534
Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	1,260	1,335		1,561	$ 1,636
Non-Compete Agreement [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 358	$ 377		$ 433	$ 452
[1] Derived from audited consolidated financial statements.

Intangible Assets - Narrative (

Intangible Assets - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 30, 2023	Oct. 30, 2022	Jul. 31, 2022	Apr. 30, 2023		May 01, 2022
Intangible Assets [Line Items]
Asset impairment charges	$ 0
Gross carrying amount of customer relationships	3,100,000		$ 3,100,000	$ 3,100,000
Incurred operating losses	(3,082,000)		(4,738,000)
Gross carrying amount of non-compete agreement	2,000,000		2,000,000	2,000,000
Property, plant and equipment, net	34,929,000		40,490,000	36,111,000	[1]
Right of use assets	7,466,000		14,556,000	8,191,000	[1]
Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	1,260,000		1,561,000	1,335,000		$ 1,636,000
Accumulated amortization	1,900,000		1,600,000	1,800,000
Remaining amortization expense for the fiscal year	226,000
Remaining amortization expense for the first fiscal year	301,000
Remaining amortization expense for the second fiscal year	301,000
Remaining amortization expense for the third fiscal year	278,000
Remaining amortization expense for the fourth fiscal year	52,000
Remaining amortization expense for the fiscal year thereafter	$ 102,000
Weighted average remaining amortization period	4 years 6 months
Customer Relationships [Member] | Minimum [Member]
Intangible Assets [Line Items]
Useful life	9 years
Customer Relationships [Member] | Maximum [Member]
Intangible Assets [Line Items]
Useful life	17 years
Non-Compete Agreement [Member]
Intangible Assets [Line Items]
Useful life	15 years
Finite-lived intangible assets, net	$ 358,000		433,000	377,000		$ 452,000
Accumulated amortization	1,700,000		$ 1,600,000	$ 1,600,000
Remaining amortization expense for the fiscal year	57,000
Remaining amortization expense for the first fiscal year	76,000
Remaining amortization expense for the second fiscal year	76,000
Remaining amortization expense for the third fiscal year	76,000
Remaining amortization expense for the fourth fiscal year	$ 73,000
Weighted average remaining amortization period	4 years 9 months 18 days
Mattress Asset Group [Member]
Intangible Assets [Line Items]
Carrying amount of asset group, net	$ 35,600,000
Impairment charge	0
Mattress Asset Group [Member] | Mattress Fabrics [Member]
Intangible Assets [Line Items]
Incurred operating losses		$ 17,200,000
Mattress Asset Group [Member] | Customer Relationships [Member] | Mattress Fabrics [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	345,000
Mattress Asset Group [Member] | Non-Compete Agreement [Member] | Mattress Fabrics [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	358,000
Mattress Asset Group [Member] | Property, Plant and Equipment [Member]
Intangible Assets [Line Items]
Property, plant and equipment, net	32,800,000
Mattress Asset Group [Member] | Right Of Use Assets [Member]
Intangible Assets [Line Items]
Right of use assets	$ 2,100,000
[1] Derived from audited consolidated financial statements.

Intangible Assets - Summary o_2

Intangible Assets - Summary of Change in Carrying Amount of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Beginning balance, net	$ 1,335	$ 1,636
Amortization expense	(75)	(75)
Ending balance, net	1,260	1,561
Non-Compete Agreement [Member]
Finite Lived Intangible Assets [Line Items]
Beginning balance, net	377	452
Amortization expense	(19)	(19)
Ending balance, net	$ 358	$ 433

Note Receivable - Narrative (De

Note Receivable - Narrative (Detail) - USD ($)		3 Months Ended
		Jul. 30, 2023	Jan. 29, 2023
Note Receivable [Line Items]
Fair value of note receivable		$ 1,913,000
Restructuring expense	[1]	338,000
CUF Haiti [Member]
Note Receivable [Line Items]
Lease rent advance payment		2,800,000
Return possession of leased facility		$ 2,400,000
Lease expiration date		Dec. 31, 2029
Fair value of note receivable			$ 2,000,000
Carrying amount of note receivable			2,400,000
CUF Haiti [Member] | Lease Termination Costs [Member]
Note Receivable [Line Items]
Restructuring expense			$ 434,000
[1] Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti.

Note Receivable - Summary of Re

Note Receivable - Summary of Remaining Future Principal Payments (Details) $ in Thousands	Jul. 30, 2023 USD ($)
Note Receivable [Line Items]
2024	$ 270
2025	360
2026	360
2027	360
2028	360
Thereafter	600
Undiscounted value of note receivable	2,310
Less: unearned interest income	(397)
Present value of note receivable	$ 1,913

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Payables and Accruals [Abstract]
Compensation, commissions and related benefits	$ 3,375	$ 5,800		$ 3,890
Other accrued expenses	3,240	2,733		3,268
Accrued expenses	$ 6,615	$ 8,533	[1]	$ 7,158
[1] Derived from audited consolidated financial statements.

Upholstery Fabrics Segment Re_3

Upholstery Fabrics Segment Restructuring - Summary of Restructuring Expense and Restructuring Related Charges (Detail)	3 Months Ended
	Jul. 30, 2023 USD ($)
Restructuring related charge
Restructuring expense	$ 338,000	[1]
Restructuring related charge	(179,000)	[2]
Exit and Disposal Activity [Member]
Restructuring related charge
Restructuring expense	101,000
Restructuring expense and restructuring related charges	517,000	[3]
Employee Termination Benefits [Member] | Exit and Disposal Activity [Member]
Restructuring related charge
Restructuring expense	101,000
Impairment Loss - Equipment [Member] | Exit and Disposal Activity [Member]
Restructuring related charge
Restructuring expense	237,000
Loss on Disposal and Markdowns of Inventory [Member] | Exit and Disposal Activity [Member]
Restructuring related charge
Restructuring related charge	$ 179,000
[1] Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Of the total $ 517,000 , $ 338,000 and $ 179,000 were recorded within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ending July 30, 2023.

Upholstery Fabrics Segment Re_4

Upholstery Fabrics Segment Restructuring - Summary of Restructuring Expense and Restructuring Related Charges (Parenthetical) (Detail)	3 Months Ended
	Jul. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 338,000	[1]
Restructuring related charge	(179,000)	[2]
Exit and Disposal Activity [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense and restructuring related charges	517,000	[3]
Restructuring expense	101,000
Cost of Sales [Member] | Exit and Disposal Activity [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring related charge	$ 179,000
[1] Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Of the total $ 517,000 , $ 338,000 and $ 179,000 were recorded within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ending July 30, 2023.

Upholstery Fabrics Segment Re_5

Upholstery Fabrics Segment Restructuring - Summary of Activity in Accrued Restructuring (Detail)	3 Months Ended
	Jul. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Expenses incurred	$ 338,000	[1]
Exit and Disposal Activity [Member]
Restructuring Cost and Reserve [Line Items]
Expenses incurred	101,000
Payments	(91,000)
Restructuring Reserve, Ending Balance	10,000
Employee Termination Benefits [Member] | Exit and Disposal Activity [Member]
Restructuring Cost and Reserve [Line Items]
Expenses incurred	101,000
Payments	(91,000)
Restructuring Reserve, Ending Balance	$ 10,000
[1] Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti.

Lines of Credit - Narrative (De

Lines of Credit - Narrative (Detail) ¥ in Millions		3 Months Ended
	Jan. 19, 2023 USD ($)	Jul. 30, 2023 USD ($)	Jul. 31, 2022 USD ($)	Jul. 30, 2023 CNY (¥)	Apr. 30, 2023 USD ($)
Revolving Credit Facility [Member] | United States [Member]
Line Of Credit Facility [Line Items]
Applicable interest rate at end of period		6.56%	2.88%	6.56%	6.30%
Reference rate on which the interest rate is based		SOFR
Letters of credit, outstanding amount		$ 275,000	$ 275,000		$ 275,000
Line of credit facility, available borrowing		25,500,000
Outstanding amount		0	0		0
Interest paid during the year		$ 0	8,000
Revolving Credit Facility [Member] | United States [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 35,000,000
Expiration date	Jan. 19, 2026
Maximum amount of letters of credit	$ 1,000,000
Line of credit facility, accounts receivable, borrowing base percentage	85%
Line of credit facility, borrowing base percentage of eligible inventory value	65%
Line of credit facility, borrowing base percentage of net-orderly-liquidation value of eligible inventory value	85%
Line of credit facility, borrowing base percentage of eligible in-transit inventory value	65%
Line of credit facility, borrowing base percentage of net-orderly-liquidation value of eligible in-transit inventory value	85%
Line of credit facility, borrowing base percentage of eligible raw material inventory value	65%
Line of credit facility, borrowing base percentage of net-orderly-liquidation value of eligible raw material inventory value	85%
Line of credit facility, borrowing base eligible in-transit inventory value	$ 5,000,000
Line of credit stated amount to determine borrowing base	22,500,000
Debt instrument, interest rate terms		The ABL Facility permits both base rate borrowings and borrowings based upon daily simple SOFR (the secured overnight financing rate administered by the Federal Reserve Bank of New York (or its successor)). Borrowings under the ABL Facility bear interest at an annual rate equal to daily simple SOFR plus 150 basis points (if the average monthly excess availability under the ABL Facility is greater than 50%) or 175 basis points (if the average monthly excess availability under the ABL Facility is less than or equal to 50%) or 50 basis points above base rate (if the average monthly excess availability under the ABL Facility is greater than 50%) or 75 basis points above base rate (if the average monthly excess availability under the ABL Facility is less than or equal to 50%), as applicable, with a fee on unutilized commitments at an annual rate of 37.5 basis points and an annual servicing fee of $12,000.
Annual servicing fee	$ 12,000
Line of credit facility, equal to eligible accounts receivable, borrowing base percent	200%
Threshold amount to determine excess borrowing availability	$ 35,000,000
Number of consecutive days in which if no event of default occurs, the compliance period ends	60 days
Line of credit facility, fixed charge ratio	1.1
Line of credit facility, commitment fee percentage	37.50%
Revolving Credit Facility [Member] | United States [Member] | Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Remaining letters of credit		$ 725,000
Revolving Credit Facility [Member] | Minimum [Member] | United States [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, excess borrowing ability	$ 7,000,000
Line of credit facility, covenant, excess borrowing availability	$ 5,250,000
Revolving Credit Facility [Member] | Minimum [Member] | United States [Member] | Base Rate [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate	50%
Revolving Credit Facility [Member] | Minimum [Member] | United States [Member] | SOFR [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate	150%
Revolving Credit Facility [Member] | Maximum [Member] | United States [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Line of credit facility minimum excess borrowing ability cash dominion period	$ 7,000,000
Line of credit facility, minimum excess borrowing ability compliance period	$ 5,250,000
Revolving Credit Facility [Member] | Maximum [Member] | United States [Member] | Base Rate [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate	75%
Revolving Credit Facility [Member] | Maximum [Member] | United States [Member] | SOFR [Member] | ABL Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate	175%
Revolving credit agreements [Member] | China [Member] | Chinese Yuan Renminbi [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity | ¥				¥ 40
Expiration date		Nov. 24, 2023
Interest rate description		Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing. The agreement
Outstanding amount		$ 0	$ 0		$ 0
Revolving credit agreements [Member] | China [Member] | United States Dollar [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		$ 5,600,000

Fair Value - Recurring Basis (D

Fair Value - Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022
U.S. Government Money Market Fund [Member]
Assets:
Investments at fair value	$ 7,113	$ 7,649	$ 8,853
Growth Allocation Mutual Funds [Member]
Assets:
Investments at fair value	585	528	464
Moderate Allocation Mutual Fund [Member]
Assets:
Investments at fair value	52	86	82
Other [Member]
Assets:
Investments at fair value	245	208	168
Quoted prices in active markets for identical assets - Level 1 [Member] | U.S. Government Money Market Fund [Member]
Assets:
Investments at fair value	7,113	7,649	8,853
Quoted prices in active markets for identical assets - Level 1 [Member] | Growth Allocation Mutual Funds [Member]
Assets:
Investments at fair value	585	528	464
Quoted prices in active markets for identical assets - Level 1 [Member] | Moderate Allocation Mutual Fund [Member]
Assets:
Investments at fair value	52	86	82
Quoted prices in active markets for identical assets - Level 1 [Member] | Other [Member]
Assets:
Investments at fair value	$ 245	$ 208	$ 168

Fair Value - Narrative (Detail)

Fair Value - Narrative (Detail) - USD ($)	Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Investments (Rabbi Trust) - available for sale	$ 8,000,000	$ 8,500,000
Long-term investments (Rabbi Trust) - available for sale	7,200,000	7,100,000		$ 9,600,000
Short-term investments (Rabbi Trust) - available for sale	791,000	1,404,000	[1]
Investments (Rabbi Trust) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Accumulated unrealized gain (loss) on investments	$ 76,000	$ 19,000		$ 25,000
[1] Derived from audited consolidated financial statements.

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Detail) - shares	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Earnings Per Share [Abstract]
Weighted average shares used in the computation of basic, net loss per share	12,332,000	12,238,000
Weighted average shares used in the computation of diluted, net loss per share	12,332,000	12,238,000

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Unvested Common Stock not Included in the Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Earnings Per Share [Abstract]
antidilutive effect from decrease in the price per share of our common stock	2	39
antidilutive effect from net loss incurred during the fiscal year	166	42
total unvested shares of common stock not included in computation of diluted net loss per share	168	81

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
	Jul. 30, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Description of changes in reporting intangible assets in segment assets	Intangible assets are not included in segment assets as these assets are not used by the Chief Operating Decision Maker to evaluate the respective segment’s operating performance, allocate resources to individual segments, or determine executive compensation.

Segment Information - Statement

Segment Information - Statement of Operations for Operating Segments (Detail) - USD ($)		3 Months Ended
		Jul. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
net sales		$ 56,662,000	$ 62,604,000
gross profit		7,085,000	4,128,000
restructuring related charge	[1]	(179,000)
selling, general, and administrative expenses		9,829,000	8,866,000
loss from operations		(3,082,000)	(4,738,000)
restructuring expense	[2]	(338,000)
interest income		345,000	17,000
other income (expense)		96,000	(82,000)
Loss before income taxes		(2,641,000)	(4,803,000)
Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
net sales		29,222,000	29,371,000
Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
net sales		27,440,000	33,233,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
gross profit		7,264,000	4,128,000
loss from operations		(2,565,000)	(4,738,000)
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
net sales		29,222,000	29,371,000
gross profit		1,994,000	(37,000)
selling, general, and administrative expenses		3,393,000	2,885,000
loss from operations		(1,398,000)	(2,921,000)
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
net sales		27,440,000	33,233,000
gross profit		5,270,000	4,165,000
selling, general, and administrative expenses		3,941,000	3,622,000
loss from operations		1,328,000	542,000
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
gross profit	[1]	(179,000)
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
selling, general, and administrative expenses		2,495,000	2,359,000
loss from operations		$ (2,495,000)	$ (2,359,000)
[1] Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti.

Segment Information - Stateme_2

Segment Information - Statement of Operations for Operating Segments (Parenthetical) (Details)	3 Months Ended
	Jul. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Restructuring related charge	$ (179,000)	[1]
Restructuring expense	338,000	[2]
Ouanaminthe, Haiti [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Restructuring related charge	179,000
Restructuring expense	338,000
Ouanaminthe, Haiti [Member] | Upholstery Fabrics [Member] | Machinery and Equipment Impairment Charge [Member]
Segment Reporting Information [Line Items]
Restructuring expense	237,000
Ouanaminthe, Haiti [Member] | Upholstery Fabrics [Member] | Employee Termination Benefits [Member]
Segment Reporting Information [Line Items]
Restructuring expense	$ 101,000
[1] Gross profit for the three months ending July 30, 2023, includes restructuring related charges totaling $ 179,000 for markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti. Restructuring expense of $ 338,000 for the three months ended July 30, 2023, represents a $ 237,000 impairment charge related mostly to certain machinery and equipment and $ 101,000 of employee termination benefits related to the discontinuation of production of cut and sewn upholstery kits in Ouanaminthe, Haiti.

Segment Information - Balance S

Segment Information - Balance Sheet Information by Operating Segments (Detail) - USD ($)		Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Segment Reporting Information [Line Items]
Accounts receivable		$ 22,612,000	$ 24,778,000	[1]	$ 24,812,000
Inventory		43,817,000	45,080,000	[1]	63,749,000
Cash and cash equivalents		16,812,000	20,964,000	[1]	18,874,000
Short-term investments - rabbi trust		791,000	1,404,000	[1]
Short-term note receivable		252,000	219,000	[1]
Current income taxes receivable		202,000			798,000
Other current assets		3,578,000	3,071,000	[1]	3,840,000
Long-term note receivable		1,661,000	1,726,000	[1]
Deferred income taxes		476,000	480,000	[1]	546,000
Property, plant and equipment		34,929,000	36,111,000	[1]	40,490,000
Right of use assets		7,466,000	8,191,000	[1]	14,556,000
Intangible assets		2,158,000	2,252,000	[1]	2,534,000
Long-term investments - rabbi trust		7,204,000	7,067,000	[1]	9,567,000
Other assets		944,000	840,000	[1]	724,000
Total assets		142,902,000	152,183,000	[1]	180,490,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets		105,088,000	110,204,000		138,938,000
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Accounts receivable		11,058,000	12,396,000		12,382,000
Inventory		24,579,000	25,674,000		36,471,000
Property, plant and equipment	[2]	32,792,000	33,749,000		37,354,000
Right of use assets	[3]	2,139,000	2,308,000		3,232,000
Total assets		70,568,000	74,127,000		89,439,000
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Accounts receivable		11,554,000	12,382,000		12,430,000
Inventory		19,238,000	19,406,000		27,278,000
Property, plant and equipment	[4]	1,491,000	1,671,000		2,271,000
Right of use assets	[5]	2,237,000	2,618,000		7,520,000
Total assets		34,520,000	36,077,000		49,499,000
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents		16,812,000	20,964,000		18,874,000
Short-term investments - rabbi trust		791,000	1,404,000
Short-term note receivable		252,000	219,000
Current income taxes receivable		202,000			798,000
Other current assets		3,578,000	3,071,000		3,840,000
Long-term note receivable		1,661,000	1,726,000
Deferred income taxes		476,000	480,000		546,000
Property, plant and equipment	[6]	646,000	691,000		865,000
Right of use assets	[7]	3,090,000	3,265,000		3,804,000
Intangible assets		2,158,000	2,252,000		2,534,000
Long-term investments - rabbi trust		7,204,000	7,067,000		9,567,000
Other assets		$ 944,000	$ 840,000		$ 724,000
[1] Derived from audited consolidated financial statements. The $ 32.8 million as of July 30, 2023, represents property, plant, and equipment of $ 22.1 million, $ 10.1 million, and $ 594,000 located in the U.S., Canada, and Haiti, respectively. The $ 37.4 million as of July 31, 2022, represents property, plant, and equipment of $ 24.7 million, $ 11.9 million, and $ 718,000 located in the U.S., Canada, and Haiti, respectively. The $ 33.7 million as of April 30, 2023, represents property, plant, and equipment of $ 22.7 million, $ 10.4 million, and $ 608,000 located in the U.S., Canada, and Haiti, respectively. The $ 2.1 million as of July 30, 2023, represents right of use assets of $ 1.4 million and $ 720,000 located in Haiti and Canada, respectively. The $ 3.2 million as of July 31, 2022, represents right of use assets of $ 1.9 million, $ 1.1 million, and $ 228,000 located in Haiti, the U.S., and Canada, respectively. The $ 2.3 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 776,000 located in Haiti and Canada, respectively. The $ 1.5 million as of July 30, 2023, represents property, plant, and equipment of $ 1.0 million, $ 327,000 , and $ 159,000 located in the U.S., Haiti, and China, respectively. The $ 2.3 million as of July 31, 2022, represents property, plant, and equipment of $ 1.1 million, $ 988,000 , and $ 232,000 located in the U.S., Haiti, and China, respectively. The $ 1.7 million as of April 30, 2023, represents property, plant, and equipment of $ 974,000 , $ 592,000 , and $ 105,000 located in the U.S., Haiti, and China, respectively. The $ 2.2 million as of July 30, 2023, represents right of use assets of $ 1.2 million and $ 977,000 located in China and the U.S., respectively. The $ 7.5 million as of July 31, 2022, represents right of use assets of $ 3.4 million, $ 2.5 million, and $ 1.6 million located in China, Haiti, and the U.S., respectively. The $ 2.6 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 1.1 million located in China and the U.S., respectively. The $ 646,000 , $ 865,000 , and $ 691,000 as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent property, plant, and equipment associated with unallocated corporate department and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. The $ 3.1 million, $ 3.8 million, and $ 3.3 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent right of use assets located in the U.S.

Segment Information - Balance_2

Segment Information - Balance Sheet Information by Operating Segments (Parenthetical) (Detail) - USD ($)		Jul. 30, 2023	Apr. 30, 2023		Jul. 31, 2022
Segment Reporting Information [Line Items]
Property, plant and equipment		$ 34,929,000	$ 36,111,000	[1]	$ 40,490,000
Right of use assets		7,466,000	8,191,000	[1]	14,556,000
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	[2]	32,792,000	33,749,000		37,354,000
Right of use assets	[3]	2,139,000	2,308,000		3,232,000
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	[4]	1,491,000	1,671,000		2,271,000
Right of use assets	[5]	2,237,000	2,618,000		7,520,000
Operating Segments [Member] | United States [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		22,100,000	22,700,000		24,700,000
Right of use assets					1,100,000
Operating Segments [Member] | United States [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		1,000,000	974,000		1,100,000
Right of use assets		977,000	1,100,000		1,600,000
Operating Segments [Member] | Canada [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		10,100,000	10,400,000		11,900,000
Right of use assets		720,000	776,000		228,000
Operating Segments [Member] | Ouanaminthe, Haiti [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		594,000	608,000		718,000
Right of use assets		1,400,000	1,500,000		1,900,000
Operating Segments [Member] | Ouanaminthe, Haiti [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		327,000	592,000		988,000
Right of use assets					2,500,000
Operating Segments [Member] | China [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		159,000	105,000		232,000
Right of use assets		1,200,000	1,500,000		3,400,000
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	[6]	646,000	691,000		865,000
Right of use assets	[7]	3,090,000	3,265,000		3,804,000
Unallocated Corporate [Member] | United States [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		646,000	691,000		865,000
Right of use assets		$ 3,100,000	$ 3,300,000		$ 3,800,000
[1] Derived from audited consolidated financial statements. The $ 32.8 million as of July 30, 2023, represents property, plant, and equipment of $ 22.1 million, $ 10.1 million, and $ 594,000 located in the U.S., Canada, and Haiti, respectively. The $ 37.4 million as of July 31, 2022, represents property, plant, and equipment of $ 24.7 million, $ 11.9 million, and $ 718,000 located in the U.S., Canada, and Haiti, respectively. The $ 33.7 million as of April 30, 2023, represents property, plant, and equipment of $ 22.7 million, $ 10.4 million, and $ 608,000 located in the U.S., Canada, and Haiti, respectively. The $ 2.1 million as of July 30, 2023, represents right of use assets of $ 1.4 million and $ 720,000 located in Haiti and Canada, respectively. The $ 3.2 million as of July 31, 2022, represents right of use assets of $ 1.9 million, $ 1.1 million, and $ 228,000 located in Haiti, the U.S., and Canada, respectively. The $ 2.3 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 776,000 located in Haiti and Canada, respectively. The $ 1.5 million as of July 30, 2023, represents property, plant, and equipment of $ 1.0 million, $ 327,000 , and $ 159,000 located in the U.S., Haiti, and China, respectively. The $ 2.3 million as of July 31, 2022, represents property, plant, and equipment of $ 1.1 million, $ 988,000 , and $ 232,000 located in the U.S., Haiti, and China, respectively. The $ 1.7 million as of April 30, 2023, represents property, plant, and equipment of $ 974,000 , $ 592,000 , and $ 105,000 located in the U.S., Haiti, and China, respectively. The $ 2.2 million as of July 30, 2023, represents right of use assets of $ 1.2 million and $ 977,000 located in China and the U.S., respectively. The $ 7.5 million as of July 31, 2022, represents right of use assets of $ 3.4 million, $ 2.5 million, and $ 1.6 million located in China, Haiti, and the U.S., respectively. The $ 2.6 million as of April 30, 2023, represents right of use assets of $ 1.5 million and $ 1.1 million located in China and the U.S., respectively. The $ 646,000 , $ 865,000 , and $ 691,000 as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent property, plant, and equipment associated with unallocated corporate department and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. The $ 3.1 million, $ 3.8 million, and $ 3.3 million as of July 30, 2023, July 31, 2022, and April 30, 2023, respectively, represent right of use assets located in the U.S.

Segment Information - Capital E

Segment Information - Capital Expenditures and Depreciation Expense for Operating Segments (Detail) - USD ($) $ in Thousands		3 Months Ended
		Jul. 30, 2023	Jul. 31, 2022
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 714	$ 583
Depreciation expense		1,635	1,770
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Capital expenditures	[1]	523	197
Depreciation expense		1,455	1,568
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Capital expenditures	[1]	158	360
Depreciation expense		180	202
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 33	$ 26
[1] Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Income Taxes [Line Items]
Income taxes	$ 701,000	$ 896,000
Effective income tax rate	(26.50%)	(18.70%)
Pre-tax income (loss)	$ (2,641,000)	$ (4,803,000)
U.S. [Member]
Income Taxes [Line Items]
Pre-tax income (loss)	$ (3,300,000)	$ (7,200,000)

Income Taxes - Differences Betw

Income Taxes - Differences Between Income Tax Expense from Continuing Operations at Federal Income Tax Rate and Effective Income Tax Rate (Detail)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
U.S. federal income tax rate	21%	21%
U.S. valuation allowance	(34.10%)	(35.40%)
Withholding taxes associated with foreign jurisdictions	(9.70%)	(5.00%)
Foreign income tax rate differential	(6.00%)	2.70%
Stock-based compensation		(2.10%)
Tax effects of local currency foreign exchange gains (losses)	2.30%	1.40%
Other		(1.30%)
Effective income tax rate	(26.50%)	(18.70%)

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowances Against Net Deferred Income Tax Assets (Detail) - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022
Valuation Allowance [Line Items]
Valuation allowance	$ 19,576	$ 18,675	$ 13,336
U.S. Capital Loss Carry Forwards [Member]
Valuation Allowance [Line Items]
Valuation allowance	2,330	2,330	2,330
U.S. Federal and State [Member] | Deferred Income Tax Assets [Member]
Valuation Allowance [Line Items]
Valuation allowance	$ 17,246	$ 16,345	$ 11,006

Income Taxes - Undistributed Ea

Income Taxes - Undistributed Earnings - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Dividends received deduction percentage for earnings and profits received from foreign corporation	100%
Dividends received deduction, foreign corporation ownership percentage	10%
Deferred tax liability, undistributed earnings from foreign subsidiaries	$ 4.4	$ 4.2	$ 3.8

Income Taxes - Uncertain Income

Income Taxes - Uncertain Income Tax Positions - Narrative (Detail) - USD ($) $ in Millions	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022
Income Taxes [Line Items]
Unrecognized tax benefits	$ 1.2
Unrecognized tax benefits that would favorably impact effective income tax rate if recognized	1.2	$ 1.2	$ 1.1
Income Taxes Payable - Long-Term [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	$ 1.2	$ 1.2	$ 1.1

Income Taxes - Summary of Taxes

Income Taxes - Summary of Taxes Paid (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Income Taxes [Line Items]
Total income taxes paid, net of refunds	$ 1,112	$ 630
Foreign Tax Authority [Member] | China [Member]
Income Taxes [Line Items]
Total income taxes paid, net of refunds	915	548
Foreign Tax Authority [Member] | Canada [Member]
Income Taxes [Line Items]
Total income taxes paid, net of refunds	$ 197	$ 82

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) - USD ($)								3 Months Ended
		Jul. 03, 2023	Aug. 10, 2022		Jul. 01, 2022	Jul. 22, 2021		Jul. 30, 2023	Jul. 31, 2022	Sep. 16, 2015
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, vested								0
Share-based compensation expense								$ 0
Performance Based Restricted Stock Units [Member] | Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, granted			178,714	[1],[2]		122,476	[1],[2]	0	0
Share-based compensation award, vested	[3]								545
Price Per Share	[2]		$ 5.77	[4]		$ 15.93	[5]
Performance Based Restricted Stock Units [Member] | Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, granted						20,500	[1],[6]	0	0
Share-based compensation award, vested	[7]								437
Price Per Share	[6],[8]					$ 14.75
Performance Based Restricted Stock Units [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense									$ 2,000
Time-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, vested								0
Remaining unrecognized compensation expense								$ 484,000
Weighted average period over which unrecognized compensation expense is expected to be recognized								1 year 8 months 12 days
Fair value of units expected to vest								$ 1,600,000
Time-Based Restricted Stock Units [Member] | Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, vested	[9]								19,786
Time-Based Restricted Stock Units [Member] | Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, vested	[10]								13,013
Time-Based Restricted Stock Units [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								238,000	$ 166,000
Common Stock Awards [Member] | Outside Directors [Member] | Immediate Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, granted		16,616			19,753
Price Per Share		$ 5.04			$ 4.24
Common Stock Awards [Member] | Selling, General and Administrative Expenses [Member] | Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								$ 84,000	$ 84,000
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized for issuance										1,200,000
Number of shares available for future equity based grants								207,650
[1] Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. Performance-based restricted stock units awarded to senior executives. Performance-based restricted stock units vested by senior executives. Price per share represents the fair market value per share ($ 1.14 per $1, or an increase of $ 0.71 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 5.06 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 10, 2022. Price per share represents the fair market value per share ($ 1.08 per $1, or an increase of $ 1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 14.75 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. Performance-based restricted stock units awarded to key employees. Performance-based restricted stock units vested by key employees. Price per share represents the closing price of our common stock on the date of grant. Time-based restricted stock units vested by senior executives. Time-based restricted stock units vested by key employees.

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Grants of Performance-Based Restricted Stock Units Associated with Senior Executives and Key Employees (Detail) - Performance Based Restricted Stock Units [Member] - $ / shares						3 Months Ended
		Aug. 10, 2022		Jul. 22, 2021		Jul. 30, 2023	Jul. 31, 2022
Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-Based Restricted Stock Units Awarded		178,714	[1],[2]	122,476	[1],[2]	0	0
Price Per Share	[2]	$ 5.77	[3]	$ 15.93	[4]
Vesting Period	[2]	3 years		3 years
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-Based Restricted Stock Units Awarded				20,500	[1],[5]	0	0
Price Per Share	[5],[6]			$ 14.75
Vesting Period	[5]			3 years
[1] Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. Performance-based restricted stock units awarded to senior executives. Price per share represents the fair market value per share ($ 1.14 per $1, or an increase of $ 0.71 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 5.06 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 10, 2022. Price per share represents the fair market value per share ($ 1.08 per $1, or an increase of $ 1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($ 14.75 ) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. Performance-based restricted stock units awarded to key employees. Price per share represents the closing price of our common stock on the date of grant.

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Grants of Performance-Based Restricted Stock Units Associated with Senior Executives and Key Employees (Parenthetical) (Detail) - Performance Based Restricted Stock Units [Member] - Senior Executives [Member] - $ / shares	Aug. 10, 2022	Jul. 22, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value multiple to closing price per share	$ 1.14	$ 1.08
Fair value adjustment to closing price of common stock, per share	0.71	1.18
Closing price of common stock	$ 5.06	$ 14.75

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Vested Performance-Based Restricted Stock Units (Detail) - Performance Based Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Jul. 30, 2023	Jul. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested		0
Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[1]		545
Fair Value	[1],[2]		$ 3
Price Per Share	[1],[3]		$ 5.1
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[4]		437
Fair Value	[2],[4]		$ 2
Price Per Share	[3],[4]		$ 5.1
[1] Performance-based restricted stock units vested by senior executives. Dollar amounts are in thousands. Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested. Performance-based restricted stock units vested by key employees.

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Grants of Time-Based Restricted Stock Unit Awards Associated with Senior Executives and Key Employees (Detail) - Time-Based Restricted Stock Units [Member] - Senior Executives and Key Employees [Member] - $ / shares		Sep. 06, 2022	Aug. 10, 2022	Jul. 22, 2021	Aug. 06, 2020	Aug. 02, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-Based Restricted Stock Units Awarded		37,671	78,225	30,835	129,095	10,000
Price Per Share	[1]	$ 4.58	$ 5.06	$ 14.75	$ 11.01	$ 24.35
Vesting Period			3 years	3 years	3 years	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period		1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period		3 years
[1] Price per share represents closing price of common stock on the date the respective award was granted.

Stock-Based Compensation - Su_5

Stock-Based Compensation - Summary of Vested Time-Based Restricted Stock Units (Detail) - Time-Based Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Jul. 30, 2023	Jul. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested		0
Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[1]		19,786
Fair Value	[1],[2]		$ 101
Price Per Share	[1],[3]		$ 5.1
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[4]		13,013
Fair Value	[2],[4]		$ 66
Price Per Share	[3],[4]		$ 5.1
[1] Time-based restricted stock units vested by senior executives. Dollar amounts are in thousands. Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested. Time-based restricted stock units vested by key employees.

Leases - Narrative (Detail)

Leases - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Lessee, operating lease, option to extend	renewal options for additional periods ranging up to twelve years
Operating lease expenses	$ 774,000	$ 1,100,000
Minimum [Member]
Operating lease remaining lease terms	1 year
Maximum [Member]
Operating lease remaining lease terms	8 years

Leases - Lessee Operating Lease

Leases - Lessee Operating Lease Right of Use Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jul. 30, 2023	Apr. 30, 2023	[1]	Jul. 31, 2022
Assets and Liabilities, Lessee [Abstract]
Right of use assets	$ 7,466	$ 8,191		$ 14,556
Operating lease liability - current	2,558	2,640		3,126
Operating lease liability - noncurrent	$ 2,994	$ 3,612		$ 6,160
[1] Derived from audited consolidated financial statements.

Leases - Operating Leases of Le

Leases - Operating Leases of Lessee Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Lessee Disclosure [Abstract]
Operating lease liability payments	$ 656	$ 920

Leases - Lessee Operating Lea_2

Leases - Lessee Operating Lease Liability Maturity (Details) $ in Thousands	Jul. 30, 2023 USD ($)
Lessee Disclosure [Abstract]
2024	$ 1,962
2025	1,871
2026	609
2027	344
2028	225
Thereafter	804
Total	5,815
Less: interest	(263)
Present value of lease liabilities	$ 5,552

Leases - Weighted Average Lease

Leases - Weighted Average Lease Term and Discount Rate (Detail)	Jul. 30, 2023
Lessee Disclosure [Abstract]
Weighted average lease term (in years)	3 years 9 months 29 days
Weighted average discount rate	3.49%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Detail) - USD ($)	Jul. 30, 2023	Apr. 30, 2023	[1]	Jul. 31, 2022
Commitments and Contingencies Disclosure [Line Items]
Accounts payable for capital expenditures	$ 257,000	$ 56,000		$ 346,000
Mattress Fabrics [Member] | Capital Addition Purchase Commitments [Member]
Commitments and Contingencies Disclosure [Line Items]
Open purchase commitments for equipment	$ 2,000,000
[1] Derived from audited consolidated financial statements.

Statutory Reserves - Narrative

Statutory Reserves - Narrative (Detail) - Subisidiary [Member] - China [Member] $ in Millions	3 Months Ended
	Jul. 30, 2023 USD ($)
Statutory Reserves [Line Items]
Percentage of net income required to be transferred to a statutory surplus reserve fund	10%
Maximum required percentage of statutory surplus reserve fund to registered capital	50%
Percentage of statutory surplus reserve fund to registered capital	50%
Statutory surplus reserve fund balance	$ 4.1
Minimum threshold percentage for statutory surplus reserve fund as percentage of registered capital, below which certain capital transactions are prohibited	25%

Common Stock Repurchase Progr_2

Common Stock Repurchase Program (Detail) - Common Stock [Member] - USD ($)	3 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Mar. 31, 2020
Stockholders Equity Note [Line Items]
Common stock repurchased	0	0
Remaining authorized repurchase amount	$ 3,200,000
Stock Repurchase Program March 2020 [Member]
Stockholders Equity Note [Line Items]
Authorization amount for repurchase of common stock			$ 5,000,000