Culp (CULP) 10-Q11 Sep 152016 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - Aug. 02, 2015 - shares	Total
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 2, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	CFI
Entity Registrant Name	CULP INC
Entity Central Index Key	723,603
Current Fiscal Year End Date	--05-01
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	12,338,765

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Income Statement [Abstract]
Net sales	$ 80,185	$ 76,060
Cost of sales	63,983	63,345
Gross profit	16,202	12,715
Selling, general and administrative expenses	8,741	7,419
Income from operations	7,461	5,296
Interest expense	24	68
Interest income	(66)	(142)
Other expense (income)	95	(89)
Income before income taxes	7,408	5,459
Income taxes	2,707	2,115
Net income	$ 4,701	$ 3,344
Net income per share, basic	$ 0.38	$ 0.27
Net income per share, diluted	$ 0.38	$ 0.27
Average shares outstanding, basic	12,277	12,212
Average shares outstanding, diluted	12,456	12,404

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 4,701	$ 3,344
Other comprehensive loss
Unrealized loss on investments	(89)	(10)
Total other comprehensive loss	(89)	(10)
Comprehensive income	$ 4,612	$ 3,334

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015	[1]	Aug. 03, 2014
Current assets:
Cash and cash equivalents	$ 25,933	$ 29,725		$ 24,665
Short-term investments	6,336	10,004		6,311
Accounts receivable, net	25,707	28,749		24,239
Inventories	46,544	42,484		41,688
Deferred income taxes	6,986	4,790		6,203
Income taxes receivable	142	229		136
Other current assets	3,502	2,440		2,308
Total current assets	115,150	118,421		105,550
Property, plant and equipment, net	37,480	36,078		31,891
Goodwill	11,462	11,462		11,462
Deferred income taxes	412	447		973
Long-term investments	2,893	2,415		1,749
Other assets	2,475	2,545		2,587
Total assets	169,872	171,368		154,212
Current liabilities:
Current maturities of long-term debt	2,200	2,200		2,200
Accounts payable-trade	28,233	28,414		24,458
Accounts payable - capital expenditures	613	990		204
Accrued expenses	7,731	11,129		6,365
Income taxes payable - current	392	325		387
Total current liabilities	39,169	43,058		33,614
Income taxes payable - long-term	3,634	3,792		4,037
Deferred income taxes	4,064	1,050		1,013
Line of credit				569
Deferred compensation	4,280	4,041		3,632
Long-term debt, less current maturities				2,200
Total liabilities	$ 51,147	$ 51,941		$ 45,065
Commitments and Contingencies (Note 15)
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 12,338,765 at August 2, 2015; 12,216,766 at August 3, 2014; and 12,219,121 at May 3, 2015	$ 617	$ 611		$ 610
Capital contributed in excess of par value	43,515	43,159		42,505
Accumulated earnings	74,777	75,752		66,102
Accumulated other comprehensive loss	(184)	(95)		(70)
Total shareholders' equity	118,725	119,427		109,147
Total liabilities and shareholders' equity	$ 169,872	$ 171,368		$ 154,212

[1]	Derived from audited financial statements.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 02, 2015	May. 03, 2015	[1]	Aug. 03, 2014
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	12,338,765	12,219,121		12,216,766
Common stock, outstanding	12,338,765	12,219,121		12,216,766

[1]	Derived from audited financial statements.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015		Aug. 03, 2014
Cash flows from operating activities:
Net income	$ 4,701		$ 3,344
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,555		1,399
Amortization of other assets	47		47
Stock-based compensation	265		46
Excess tax benefit related to stock-based compensation	(788)		(99)
Deferred income taxes	1,641		1,193
Gain on sale of equipment	(46)		(45)
Foreign currency gains	(57)		(201)
Changes in assets and liabilities:
Accounts receivable	2,774		3,168
Inventories	(4,068)		(1,021)
Other current assets	(1,149)		40
Other assets	23		283
Accounts payable - trade	(132)		(2,224)
Accrued expenses and deferred compensation	(3,870)		(1,855)
Income taxes	159		(24)
Net cash provided by operating activities	1,055		4,051
Cash flows from investing activities:
Capital expenditures	(3,336)		(2,333)
Proceeds from the sale of equipment	104		391
Proceeds from the sale of short-term investments	3,612
Purchase of short-term investments	(33)		(27)
Purchase of long-term investments	(478)		(984)
Net cash used in investing activities	(131)		(2,953)
Cash flows from financing activities:
Excess tax benefit related to stock-based compensation	788		99
Common stock repurchased			(556)
Dividends paid	(5,676)		(5,502)
Proceeds from common stock issued	56
Net cash used in financing activities	(4,832)		(5,959)
Effect of exchange rate changes on cash and cash equivalents	116		223
Decrease in cash and cash equivalents	(3,792)		(4,638)
Cash and cash equivalents at beginning of period	29,725	[1]	29,303
Cash and cash equivalents at end of period	$ 25,933		$ 24,665

[1]	Derived from audited financial statements.

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 Loss
Balance at Apr. 27, 2014		$ 111,744	$ 612	$ 42,932	$ 68,260	$ (60)
Balance (in shares) at Apr. 27, 2014			12,250,030
Net income		3,344
Unrealized loss on investments		(10)
Balance at Aug. 03, 2014		109,147
Balance at Apr. 27, 2014		111,744	$ 612	42,932	68,260	(60)
Balance (in shares) at Apr. 27, 2014			12,250,030
Net income		15,071			15,071
Stock-based compensation		786		786
Unrealized loss on investments		(35)				(35)
Excess tax benefit related to stock based compensation		109		109
common stock repurchased		(745)	$ (2)	(743)
common stock repurchased (in shares)			(43,014)
Fully vested common stock award			3,000
Common stock issued in connection with exercise of stock options (in shares)			10,100
Common stock issued in connection with exercise of stock options		94	$ 1	93
Common stock surrendered for withholding taxes payable		(18)		(18)
Common stock surrendered for withholding taxes payable (in shares)			(995)
Dividends paid		(7,579)			(7,579)
Balance at May. 03, 2015	[1]	119,427	$ 611	43,159	75,752	(95)
Balance (in shares) at May. 03, 2015	[1]		12,219,121
Net income		4,701			4,701
Stock-based compensation		265		265
Unrealized loss on investments		(89)				(89)
Excess tax benefit related to stock based compensation		788		788
Common stock issued in connection with performance based units (in shares)			115,855
Common stock issued in connection with performance based units			$ 6	(6)
Common stock issued in connection with exercise of stock options (in shares)			30,000
Common stock issued in connection with exercise of stock options		56	$ 1	55
Common stock surrendered for withholding taxes payable		(747)	$ (1)	(746)
Common stock surrendered for withholding taxes payable (in shares)			(26,211)
Dividends paid		(5,676)			(5,676)
Balance at Aug. 02, 2015		$ 118,725	$ 617	$ 43,515	$ 74,777	$ (184)
Balance (in shares) at Aug. 02, 2015			12,338,765

[1]	Derived from audited financial statements.

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Aug. 02, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited consolidated financial statements of Culp, Inc. and subsidiaries (the “company”) include all adjustments, which are, in the opinion of management, necessary for fair presentation of the results of operations and financial position. All of these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, which are included in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on July 17, 2015 for the fiscal year ended May 3, 2015. The company’s three months ended August 2, 2015 and August 3, 2014, represent 13 and 14 week periods, respectively.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Aug. 02, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies As of August 2, 2015, 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 May 3, 2015. Recently Adopted Accounting Pronouncements None Recently Issued Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (“FASB”) amended its authoritative guidance on accounting for certain share-based payment awards. The amended guidance requires that share-based compensation awards with terms of a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award and compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. The guidance will be effective in our fiscal 2017 first quarter. The guidance will permit an entity to apply the amendments in the update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the consolidated financial statements and to all new or modified awards thereafter. Currently, we do not have any share-based payment awards with terms of a performance target that affects vesting and could be achieved after the requisite service period. We are currently assessing the impact that this guidance will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, which amends ASC Topic 606, Revenue from Contracts with Customers. Revenue from Contracts with Customers: Deferral of the Effective Date In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Aug. 02, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	3. Stock-Based Compensation Incentive Stock Option Awards We did not grant any incentive stock option awards through the first quarter of fiscal 2016. At August 2, 2015, options to purchase 110,100 shares of common stock were outstanding and exercisable, had a weighted average exercise price of $7.75 per share, and a weighted average contractual term of 2.2 years. At August 2, 2015, the aggregate intrinsic value for options outstanding and exercisable was $2.5 million. The aggregate intrinsic value for options exercised for the three months ending August 2, 2015 was $814,000. No options were exercised during the three months ending August 3, 2014. At August 2, 2015, there were no unvested incentive stock option awards. Therefore, there was no unrecognized compensation cost related to incentive stock option awards at August 2, 2015. No compensation expense was recorded on incentive stock options for the three months ended August 2, 2015 and August 3, 2014, respectively. Common Stock Awards We did not grant any common stock awards during the first quarter of fiscal 2016. Time Vested Restricted Stock Awards We did not grant any time vested restricted stock awards through the first quarter of fiscal 2016. At August 2, 2015, there were no outstanding and unvested shares of time vested restricted stock. Therefore, there was no unrecognized compensation cost related to time vested restricted stock awards at August 2, 2015. No compensation expense was recorded on time vested restricted stock awards for the three months ended August 2, 2015. We recorded $4,000 within selling, general, and administrative expense for time vested restricted stock awards for the three month period ending August 3, 2014. During the three month period ending August 3, 2014, 61,667 shares of time vested restricted stock vested and had a weighted average fair value of $257,000 or $4.17 per share. Performance Based Restricted Stock Units Fiscal 2016 Grant On July 15, 2015, certain key members of management were granted performance based restricted stock units which could earn up to 107,554 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. These awards were valued based on the fair market value on the date of grant. The fair value of these awards was $32.23 per share, which represents the closing price of our common stock on the date of grant. The vesting of these awards is over the requisite service period of three years. On July 15, 2015, a non-employee was granted performance based restricted stock units which could earn up to 10,364 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. The fair value of this award is measured at the earlier date of when the performance criteria are met or the end of the reporting period. At August 2, 2015, this grant was unvested and was measured at $30.25 per share, which represents the closing price of the company’s common stock at the end of the reporting period. The vesting of these awards is over the requisite service period of three years. Fiscal 2015 Grant On June 24, 2014, certain key members of management were granted performance based restricted stock units which could earn up to 102,845 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. These awards were valued based on the fair market value on the date of grant. The fair value of these awards was $17.70 per share, which represents the closing price of our common stock on the date of grant. The vesting of these awards is over the requisite service period of three years. On March 3, 2015, a non-employee was granted performance based restricted stock units which could earn up to 28,000 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. The fair value of this award is measured at the earlier date of when the performance criteria are met or the end of the reporting period. At August 2, 2015, this grant was unvested and was measured at $30.25 per share, which represents the closing price of the company’s common stock at the end of the reporting period. The vesting of these awards is over the requisite service period of 16 months and 28 months for performance based restricted stock units which could earn up to 12,000 and 16,000 shares of common stock, respectively. Fiscal 2014 Grant On June 25, 2013, certain key members of management were granted performance based restricted stock units which could earn up to 72,380 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. These awards were valued based on the fair market value on the date of grant. The fair value of these awards was $17.12 per share, which represents the closing price of our common stock on the date of grant. The vesting of these awards is over the requisite service period of three years. Fiscal 2013 Grant On July 11, 2012, certain key members of management were granted performance based restricted stock units which could earn up to 120,000 shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. These awards were valued based on the fair market value on the date of grant. The fair value of these awards was $10.21 per share, which represents the closing price of our common stock on the date of grant. The vesting of these awards is over the requisite service period of three years. During the three month period ending August 2, 2015, 115,855 shares of common stock associated with our fiscal 2013 grant vested and had a weighted average fair value of $1.2 million or $10.21 per share. As of August 2, 2015, our fiscal 2013 grant was fully vested. Overall The company recorded compensation expense of $265,000 and $42,000 within selling, general, and administrative expense for performance based restricted stock units for the three month periods ending August 2, 2015 and August 3, 2014, respectively. Compensation cost is recorded based on an assessment each reporting period of the probability if certain performance goals will be met during the vesting period. If performance goals are not probable of occurrence, no compensation cost will be recognized and any recognized compensation cost would be reversed. As of August 2, 2015, the remaining unrecognized compensation cost related to the performance based restricted stock units was $2.9 million, which is expected to be recognized over a weighted average vesting period of 2.5 years.

Accounts Receivable

Accounts Receivable	3 Months Ended
Accounts Receivable	Aug. 02, 2015
Receivables [Abstract]
Accounts Receivable	4. Accounts Receivable A summary of accounts receivable follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Customers $ 27,428 $ 25,212 $ 30,338 Allowance for doubtful accounts (935 ) (438 ) (851 ) Reserve for returns and allowances and discounts (786 ) (535 ) (738 ) $ 25,707 $ 24,239 $ 28,749 A summary of the activity in the allowance for doubtful accounts follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Beginning balance $ (851 ) $ (573 ) Provision for bad debts (96 ) 69 Net write-offs, net of recoveries 12 66 Ending balance $ (935 ) $ (438 ) A summary of the activity in the allowance for returns and allowances and discounts accounts follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Beginning balance $ (738 ) $ (479 ) Provision for returns, allowances and discounts (709 ) (658 ) Credits issued 661 602 Ending balance $ (786 ) $ (535 )

Inventories

Inventories	3 Months Ended
Inventories	Aug. 02, 2015
Inventory Disclosure [Abstract]
Inventories	5. Inventories Inventories are carried at the lower of cost or market. Cost is determined using the FIFO (first-in, first-out) method. A summary of inventories follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Raw materials $ 6,944 $ 6,145 $ 5,374 Work-in-process 3,018 2,174 2,766 Finished goods 36,582 33,369 34,344 $ 46,544 $ 41,688 $ 42,484

Other Assets

Other Assets	3 Months Ended
Other Assets	Aug. 02, 2015
Text Block [Abstract]
Other Assets	6. Other Assets A summary of other assets follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Cash surrender value – life insurance $ 339 $ 320 $ 339 Non-compete agreement, net 960 1,035 979 Customer relationships, net 753 804 766 Other 423 428 461 $ 2,475 $ 2,587 $ 2,545 Non-Compete Agreement We recorded our non-compete agreement at its fair value based on a discounted cash flow valuation model. Our non-compete agreement is amortized on a straight-line basis over the fifteen year life of the respective agreement. The gross carrying amount of our non-compete agreement was $2.0 million at August 2, 2015, August 3, 2014 and May 3, 2015, respectively. At August 2, 2015 and May 3, 2015 accumulated amortization for our non-compete agreement was $1.1 million. At August 3, 2014 accumulated amortization for our non-compete agreement was $1.0 million. Amortization expense for our non-compete agreement was $19,000 for the three month periods ended August 2, 2015 and August 3, 2014. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2016 - $56,000; FY 2017 - $75,000; FY 2018- $75,000; FY 2019 - $75,000; FY 2020 - $75,000 and Thereafter - $604,000. The weighted average amortization period for our non-compete agreement is 12.8 years as of August 2, 2015. Customer Relationships We recorded our customer relationships at their fair value based on a multi-period excess earnings valuation model. Our customer relationships are amortized on a straight-line basis over its seventeen year useful life. The gross carrying amount of our customer relationships was $868,000 at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. Accumulated amortization for our customer relationships was $115,000, $64,000, and $102,000 at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. Amortization expense for our customer relationships was $13,000 for the three months ending August 2, 2015 and August 3, 2014. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2016 - $38,000; FY 2017 - $51,000; FY 2018 - $51,000; FY 2019 - $51,000; FY 2020 - $51,000; and Thereafter - $511,000. The weighted average amortization period for our customer relationships is 14.8 years as of August 2, 2015. Cash Surrender Value – Life Insurance At August 2, 2015 and May 3, 2015 we had one life insurance contract with a death benefit of $1.4 million. At August 3, 2014, we had two life insurance contracts with death benefits to the respective insured totaling $3.9 million. Our cash surrender value – life insurance balances totaling $339,000, $640,000 and $339,000 at August 2, 2015, August 3, 2014, and May 3, 2015, respectively, are collectible upon death of the respective insured. On May 16, 2014, we entered into an agreement with a former employee and his irrevocable trust (the “Trust”) dated September 7, 1995. As a result of this agreement, a previous split dollar life insurance agreement in which we purchased a policy on the life of this former employee and his spouse, in which we retained ownership of the policy, paid premiums to support the policy, had the right to receive cash surrender value of the policy upon the second to die of the former employee and his spouse, with the Trust receiving the remainder of the policy’s death benefit ($2.5 million), was terminated. In connection with the termination of the previous split dollar life insurance agreement, we transferred the life insurance policy to the Trust. Also, we received cash proceeds in the amount of the cash surrender value policy totaling $320,000 during the second quarter of fiscal 2015. This amount was recorded in other current assets on our Consolidated Balance Sheet dated August 3, 2014. After the settlement of the above life insurance agreement, we currently had one life insurance contract with a death benefit of $1.4 million and a cash surrender value balance of $320,000. This amount was recorded in other non-current assets on our Consolidated Balance Sheet dated August 3, 2014.

Accrued Expenses

Accrued Expenses	3 Months Ended
Accrued Expenses	Aug. 02, 2015
Text Block [Abstract]
Accrued Expenses	7. Accrued Expenses A summary of accrued expenses follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Compensation, commissions and related benefits $ 4,946 $ 4,053 $ 9,081 Interest 81 168 37 Other accrued expenses 2,704 2,144 2,011 $ 7,731 $ 6,365 $ 11,129

Long-Term Debt and Lines of Cre

Long-Term Debt and Lines of Credit	3 Months Ended
Long-Term Debt and Lines of Credit	Aug. 02, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Lines of Credit	8. Long-Term Debt and Lines of Credit A summary of long-term debt follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Unsecured senior term notes $ 2,200 $ 4,400 $ 2,200 Current maturities of long-term debt (2,200 ) (2,200 ) (2,200 ) Long-term debt, less current maturities of long-term debt $ - $ 2,200 $ - Unsecured Senior Term Notes We entered into a note agreement dated August 11, 2008 that provided for the issuance of $11.0 million of unsecured senior term notes with a fixed interest rate of 8.01% and a term of seven years. Principal payments of $2.2 million per year are due on the notes beginning August 11, 2011. Any principal pre-payments would be assessed a penalty as defined in the agreement. The agreement contains customary financial and other covenants as defined in the agreement. On August 11, 2015, we paid our one remaining annual payment of $2.2 million. Revolving Credit Agreement – United States As of May 3, 2015, we had an unsecured credit agreement with Wells Fargo Bank, N.A. (“Wells Fargo”) that provided for an unsecured revolving loan commitment of $10.0 million to be used to finance working capital and general corporate purposes. The amount of borrowings that were outstanding under the credit agreement with Culp Europe at August 3, 2014, noted below decreased the $10.0 million available. Interest is charged at a rate (applicable interest rate of 1.69%, 1.76%, and 1.78% at August 2, 2015, August 3, 2014, and May 3, 2015, respectively) equal to the one-month LIBOR rate plus a spread based on our ratio of debt to EBITDA as defined in the agreement. The Credit Agreement contained customary financial and other covenants as defined in the agreement and was set to expire on August 31, 2015. Effective July 10, 2015, we amended the Credit Agreement to extend the expiration date to August 31, 2017, and maintain an annual capital expenditure limit of $12 million. At August 2, 2015 and May 3, 2015 there was a $250,000 outstanding letter of credit (all of which related to workers compensation). At August 3, 2014, there was a $195,000 outstanding letter of credit (all of which related to workers compensation). At August 2, 2015, August 3, 2014, and May 3, 2015, there were no borrowings outstanding under the Credit Agreement. Revolving Credit Agreement – China We have an unsecured credit agreement associated with our operations in China that provides for a line of credit of up to 40 million RMB (approximately $6.4 million USD at August 2, 2015), expiring on February 9, 2016. This agreement has an interest rate determined by the Chinese government. There were no borrowings outstanding under the agreement as of August 2, 2015, August 3, 2014, and May 3, 2015. Revolving Credit Agreement – Europe At August 3, 2014, we had EURO denominated borrowings totaling €424,000 ($569,000 USD) that incurred interest at the EURO LIBOR plus 2%. In connection with the Wells Fargo credit agreement noted above, the outstanding borrowings totaling $569,000 at August 3, 2014, decreased the $10.0 million available under the credit agreement. At August 2, 2015, no borrowings were outstanding under this agreement, as the outstanding balance was paid in full during the second quarter of fiscal 2015. Overall Our loan agreements require, among other things, that we maintain compliance with certain financial covenants. At August 2, 2015, the company was in compliance with these financial covenants. The fair value of the company’s long-term debt is estimated by discounting the future cash flows at rates currently offered to the company for similar debt instruments of comparable maturities. At August 2, 2015, the carrying value of our long-term debt was $2.2 million and the fair value was $2.3 million. At August 3, 2014, the carrying value of the company’s long-term debt was $4.4 million and the fair value was $4.6 million. At May 3, 2015, the carrying value of the company’s long-term debt was $2.2 million and the fair value was $2.3 million.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Aug. 02, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments 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. Recurring Basis The following table presents information about assets and liabilities measured at fair value on a recurring basis: Fair value measurements at August 2, 2015 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Premier Money Market Fund $ 2,705 N/A N/A $ 2,705 Intermediate Term Bond Fund 2,149 N/A N/A 2,149 Low Duration Bond Fund 2,100 N/A N/A 2,100 Limited Term Bond Fund 1,092 N/A N/A 1,092 Strategic Income Fund 995 N/A N/A 995 Growth Allocation Fund 109 N/A N/A 109 Other 79 N/A N/A 79 Fair value measurements at August 3, 2014 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Limited Term Bond Fund $ 2,578 N/A N/A $ 2,578 Low Duration Bond Fund 2,078 N/A N/A 2,078 Premier Money Market Fund 1,712 N/A N/A 1,712 Intermediate Term Bond Fund 1,655 N/A N/A 1,655 Other 37 N/A N/A 37 Fair value measurements at May 3, 2015 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Limited Term Bond Fund $ 3,107 N/A N/A $ 3,107 Premier Money Market Fund 2,285 N/A N/A 2,285 Intermediate Term Bond Fund 2,181 N/A N/A 2,181 Low Duration Bond Fund 2,096 N/A N/A 2,096 Strategic Income Fund 1,008 N/A N/A 1,008 Growth Allocation Fund 85 N/A N/A 85 Other 45 N/A N/A 45 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. Our short-term investments include short-term bond funds and deposit accounts that have a maturity of more than three months, are classified as available-for-sale, and their unrealized gains or losses are included in other comprehensive loss. Our short-term bond funds were recorded at their fair value of $6.3 million, $6.3 million and $10.0 million at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. Our short-term bond funds had an accumulated unrealized loss totaling $184,000, $70,000, and $95,000 at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. At August 2, 2015, August 3, 2014, and May 3, 2015, the fair value of our short-term bond funds approximated its cost basis. Effective, January 1, 2014, we established a Rabbi Trust to set aside funds for participants of our deferred compensation plan (the “Plan”) and enable the participants to credit their contributions to various investment options of the Plan. The investments associated with the Rabbi Trust consist of investments in a money market fund and various mutual funds that are classified as available for sale. Our long-term investments are recorded at its fair value of $2.9 million, $1.7 million, and $2.4 million at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. The fair value of our long-term investments approximates its cost basis. The carrying amount of cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued expenses approximates fair value because of the short maturity of these financial instruments.

Cash Flow Information

Cash Flow Information	3 Months Ended
Cash Flow Information	Aug. 02, 2015
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	10. Cash Flow Information Payments for interest and income taxes follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Interest $ - $ - Net income tax payments 900 959 Interest costs of $20,000 and $30,000 for the construction of qualifying fixed assets were capitalized and are being amortized over the related assets’ useful lives for the three months ended August 2, 2015 and August 3, 2014, respectively.

Net Income Per Share

Net Income Per Share	3 Months Ended
Net Income Per Share	Aug. 02, 2015
Earnings Per Share [Abstract]
Net Income Per Share	11. Net Income Per Share Basic net income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income 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 income per share follows: Three months ended (amounts in thousands) August 2, 2015 August 3, 2014 Weighted average common shares outstanding, basic 12,277 12,212 Dilutive effect of stock-based compensation 179 192 Weighted average common shares outstanding, diluted 12,456 12,404 All options to purchase shares of common stock were included in the computation of diluted net income for the three months ended August 2, 2015 and August 3, 2014, as the exercise price of the options was less than the average market price of the common shares.

Segment Information

Segment Information	3 Months Ended
Segment Information	Aug. 02, 2015
Segment Reporting [Abstract]
Segment Information	12. Segment Information 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 to bedding manufacturers. The upholstery fabrics segment sources, manufactures, and sells fabrics primarily to residential furniture manufacturers. We evaluate the operating performance of our segments based upon income from operations before certain unallocated corporate expenses and other non-recurring items. Cost of sales in both segments include costs to 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 executive officers, all costs related to being a public company, and other miscellaneous expenses. Segment assets include assets used in the operations of each segment and primarily consist of accounts receivable, inventories, and property, plant and equipment. The mattress fabrics segment also includes in segment assets, goodwill, a non-compete agreement, and customer relationships associated with an acquisition. Financial information for the company’s operating segments follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Net sales: Mattress Fabrics $ 47,808 $ 42,822 Upholstery Fabrics 32,377 33,238 $ 80,185 $ 76,060 Gross profit: Mattress Fabrics $ 9,925 $ 7,202 Upholstery Fabrics 6,277 5,513 $ 16,202 $ 12,715 Selling, general, and administrative expenses: Mattress Fabrics $ 2,923 $ 2,574 Upholstery Fabrics 3,595 3,452 Total segment selling, general, and 6,518 6,026 Unallocated corporate expenses 2,223 1,393 $ 8,741 $ 7,419 Income from operations: Mattress Fabrics $ 7,003 $ 4,629 Upholstery Fabrics 2,681 2,060 Total segment income from operations 9,684 6,689 Unallocated corporate expenses (2,223 ) (1,393 ) Total income from operations 7,461 5,296 Interest expense (24 ) (68 ) Interest income 66 142 Other (expense) income (95 ) 89 Income before income taxes $ 7,408 $ 5,459 Balance sheet information for the company’s operating segments follow: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Segment assets: Mattress Fabrics Current assets (1) $ 42,530 $ 37,970 $ 41,328 Non-compete agreement 960 1,035 979 Customer relationships 753 804 766 Goodwill 11,462 11,462 11,462 Property, plant and equipment (2) 35,116 29,604 33,773 Total mattress fabrics assets 90,821 80,875 88,308 Upholstery Fabrics Current assets (1) 29,721 27,957 29,905 Property, plant and equipment (3) 1,518 1,580 1,467 Total upholstery fabrics assets 31,239 29,537 31,372 Total segment assets 122,060 110,412 119,680 Non-segment assets: Cash and cash equivalents 25,933 24,665 29,725 Short-term investments 6,336 6,311 10,004 Deferred income taxes 7,398 7,176 5,237 Income taxes receivable 142 136 229 Other current assets 3,502 2,308 2,440 Property, plant and equipment (4) 846 707 838 Long-term investments 2,893 1,749 2,415 Other assets 762 748 800 Total assets $ 169,872 $ 154,212 $ 171,368 Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Capital expenditures (5): Mattress Fabrics $ 2,704 $ 2,129 Upholstery Fabrics 183 112 Unallocated Corporate 73 19 Total capital expenditures $ 2,960 $ 2,260 Depreciation expense: Mattress Fabrics $ 1,359 $ 1,219 Upholstery Fabrics 196 180 Total depreciation expense $ 1,555 $ 1,399 (1) Current assets represent accounts receivable and inventory for the respective segment. (2) The $35.1 million at August 2, 2015, represents property, plant, and equipment of $23.6 million and $11.5 million located in the U.S. and Canada, respectively. The $29.6 million at August 3, 2014, represents property, plant, and equipment of $21.2 million and $8.4 million located in the U.S. and Canada, respectively. The $33.8 million at May 3, 2015, represents property, plant, and equipment of $23.8 million and $10.0 million located in the U.S. and Canada, respectively. (3) The $1.5 million at August 2, 2015, represents property, plant, and equipment of $818 and $700 located in the U.S. and China, respectively. The $1.6 million at August 3, 2014, represents property, plant, and equipment located in the U.S. of $911, located in China of $627, and located in Poland of $42. The $1.5 million at May 3, 2015, represents property, plant, and equipment located in the U.S. of $848 and located in China of $619. (4) The $846, $707, and $838 at August 2, 2015, August 3, 2014 and May 3, 2015, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments. Property, plant, and equipment associated with corporate are located in the U.S. (5) 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
Income Taxes	Aug. 02, 2015
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Effective Income Tax Rate We recorded income tax expense of $2.7 million, or 36.5% of income before income tax expense, for the three month period ended August 2, 2015, compared to income tax expense of $2.1 million or 38.7% of income before income tax expense, for the three month period ended August 3, 2014. Our effective income tax rates for the three month periods ended August 2, 2015 and August 3, 2014, 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. 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 sources versus annual projections and changes in foreign currencies in relation to the U.S. dollar. The income tax expense for the three month period ended August 2, 2015 is different from the amount obtained by applying our statutory rate of 34% to income before income taxes for the following reasons: · The income tax rate decreased by 6% for taxable income subject to lower statutory income tax rates in foreign jurisdictions (Canada and China) compared with the statutory income tax rate of 34% for the United States. · The income tax rate increased by 5% to record the income tax effects of the undistributed earnings from our foreign subsidiaries located in Canada and China. · The income tax rate increased by 3% for an increase in unrecognized tax benefits. · The income tax rate increased by 0.5% for other miscellaneous items. The income tax expense for three month period ended August 3, 2014 is different from the amount obtained by applying our statutory rate of 34% to income before income taxes for the following reasons: · The income tax rate decreased by 6% for taxable income subject to lower statutory income tax rates in foreign jurisdictions (Canada and China) compared with the statutory income tax rate of 34% for the United States. · The income tax rate increased 5% for an increase in unrecognized tax benefits. · The income tax rate increased by 3% to record the income tax effects of the undistributed earnings from our foreign subsidiaries located in Canada and China. · The income tax rate was increased by 2.7% for other miscellaneous items. Deferred Income Taxes Valuation Allowance In accordance with ASC Topic 740, we evaluate our deferred income taxes to determine if a valuation allowance is required. ASC Topic 740 requires that companies 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, taking into account the effects of local tax law. Based on our assessment at August 2, 2015, we recorded a partial valuation allowance of $926,000, of which $561,000 pertained to certain U.S. state net operating loss carryforwards and credits and $365,000 pertained to loss carryfowards associated with our Culp Europe operation located in Poland. Based on our assessment at August 3, 2014, we recorded a partial valuation allowance of $1.1 million, of which $666,000 pertained to certain U.S. state net operating loss carryforwards and credits and $419,000 pertained to loss carryfowards associated with our Culp Europe operation located in Poland. Based on our assessment at May 3, 2015, we recorded a partial valuation allowance of $922,000, of which $561,000 pertained to certain U.S. state net operating loss carryforwards and credits and $361,000 pertained to loss carryfowards associated with our Culp Europe operation located in Poland. No valuation allowance was recorded against our net deferred tax assets associated with our operations located in China and Canada at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. The recorded valuation allowance of $926,000 at August 2, 2015, has no effect on our operations, loan covenant compliance, or the possible realization of certain U.S. state net operating loss carryforwards and credits and our loss carryforwards associated with our Culp Europe operation located in Poland. If it is determined that it is more-likely-than-not that we will realize any of these deferred tax assets, an income tax benefit will be recognized at that time. Undistributed Earnings In accordance with ASC Topic 740, we assess whether the undistributed earnings from our foreign subsidiaries will be reinvested indefinitely or eventually distributed to our U.S. parent company. ASC Topic 740 requires that a deferred tax liability should be recorded for undistributed earnings from foreign subsidiaries that will not be reinvested indefinitely. Based on our assessment as of August 2, 2015, it is our intention not to permanently invest our undistributed earnings from our foreign subsidiaries. Also, we assess the recognition of U.S. foreign income tax credits associated with foreign withholding and income tax payments and whether it is more-likely-than-not that our foreign income tax credits will not be realized. If it is determined that any foreign income tax credits need to be recognized or it is more-likely-than-not our foreign income tax credits will not be realized, an adjustment to our provision for income taxes will be recognized at that time. At August 2, 2015, the net deferred tax liability associated with our undistributed earnings from our foreign subsidiaries totaled $2.0 million, which included U.S. income and foreign withholding taxes totaling $33.8 million, offset by U.S. foreign income tax credits of $31.8 million. At August 3, 2014, the net deferred tax liability associated with our undistributed earnings from our foreign subsidiaries totaled $2.1 million, which included U.S. income and foreign withholding taxes totaling $29.4 million, offset by U.S. foreign income tax credits of $27.3 million. At May 3, 2015, the net deferred tax liability associated with our undistributed earnings from our foreign subsidiaries totaled $1.7 million, which included U.S. income and foreign withholding taxes totaling $32.4 million, offset by U.S. foreign income tax credits of $30.7 million. We had accumulated earnings from our foreign subsidiaries totaling $88.6 million, $75.8 million, and $85.2 million at August 2, 2015, August 3, 2014, and May 3, 2015, respectively. Overall At August 2, 2015, the current deferred tax asset of $7.0 million represents $6.5 million and $502,000 from our operations located in the U.S. and China, respectively. At August 2, 2015, the non-current deferred tax asset of $412,000 pertains to our operations located in China. At August 2, 2015, the non-current deferred tax liability of $4.1 million represents $3.0 million and $1.1 million from our operations located in the U.S. and Canada, respectively. At August 3, 2014, the current deferred tax asset of $6.2 million represents $5.8 million and $405,000 from our operations located in the U.S. and China, respectively. At August 3, 2014, the non-current deferred tax asset of $973,000 represents $440,000 and $533,000 from our operations located in the U.S. and China, respectively. At August 3, 2014, the non-current deferred tax liability of $1.0 million pertains to our operations located in Canada. At May 3, 2015, the current deferred tax asset of $4.8 million represents $4.4 million and $421,000 from our operations located in the U.S. and China, respectively. At May 3, 2015, the non-current deferred tax asset of $447,000 pertained to our operations located in China. At May 3, 2015, the non-current deferred tax liability of $1.1 million represents $896,000 and $154,000 from our operations located in Canada and the U.S., respectively. Uncertainty In Income Taxes At August 2, 2015, we had a $14.2 million total gross unrecognized tax benefit, of which $3.6 million represents the amount of gross unrecognized tax benefits that, if recognized, would favorably affect the income tax rate in future periods. At August 3, 2014, we had a $14.0 million total gross unrecognized tax benefit, of which $4.0 million represents the amount of gross unrecognized tax benefits that, if recognized, would favorably affect the income tax rate in future periods. At May 3, 2015, we had a $14.1 million total gross unrecognized tax benefit, of which $3.8 million represents the amount of gross unrecognized tax benefits that, if recognized, would favorably affect the income tax rate in future periods. At August 2, 2015, we had a $14.2 million total gross unrecognized tax benefit, of which $10.6 million and $3.6 million were classified as net non-current deferred income taxes and income taxes payable – long-term, respectively, in the accompanying consolidated balance sheets. At August 3, 2014, we had a $14.0 million total gross unrecognized tax benefit, of which $10.0 million and $4.0 million were classified as net non-current deferred income taxes and income taxes payable – long-term, respectively, in the accompanying consolidated balance sheets. At May 3, 2015, we had $14.1 million of total gross unrecognized tax benefit, of which $10.3 million and $3.8 million were classified as net non-current deferred income taxes and income taxes payable – long-term, respectively, in the accompanying consolidated balance sheets. We estimate that the amount of gross unrecognized tax benefits will increase by approximately $867,000 for fiscal 2016. This increase primarily relates to double taxation under applicable tax treaties with foreign tax jurisdictions.

Statutory Reserves

Statutory Reserves	3 Months Ended
Statutory Reserves	Aug. 02, 2015
Text Block [Abstract]
Statutory Reserves	14. Statutory Reserves Our subsidiaries located in China are required to transfer 10% of their 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 reaches 50% of the company’s registered capital. The transfer to this reserve must be made before distributions of any dividend to shareholders. As of August 2, 2015, the company’s statutory surplus reserve was $5.0 million, representing 10% of accumulated earnings and profits determined in accordance with PRC accounting rules and regulations. The surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and 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. Our subsidiaries located in China can transfer funds to the parent company with the exception of the statutory surplus reserve of $5.0 million to assist with debt repayment, capital expenditures, and other expenses of the company’s business.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Aug. 02, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. 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 financial position, results of operations, or cash flows of the company. Purchase Commitments At August 2, 2015, August 3, 2014, and May 3, 2015, we had open purchase commitments to acquire equipment for our mattress fabrics segment totaling $2.6 million, $3.5 million, and $2.3 million, respectively.

Common Stock Repurchase Program

Common Stock Repurchase Program	3 Months Ended
Common Stock Repurchase Program	Aug. 02, 2015
Text Block [Abstract]
Common Stock Repurchase Program	16. Common Stock Repurchase Program On February 25, 2014, we announced that 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 amount of shares purchased and the timing of such purchases will be based on working capital requirements, market and general business conditions, and other factors including alternative investment opportunities. During fiscal 2015, we purchased 43,014 shares of our common stock at a cost of $745,000, all of which were purchased in the first and second quarters. During the three months ended August 2, 2015, we did not purchase any shares of our common stock. At August 2, 2015, we had $4.3 million available for additional repurchases of our common stock.

Dividend Program

Dividend Program	3 Months Ended
Dividend Program	Aug. 02, 2015
Text Block [Abstract]
Dividend Program	17. Dividend Program On June 18, 2015, we announced that our board of directors approved the payment of a special cash dividend of $0.40 per share and a regular cash dividend payment of $0.06 per share. These dividends were paid on July 15, 2015, to shareholders of record as of July 1, 2015. During the first quarter of fiscal 2016, dividend payments totaled $5.7 million, of which $5.0 million represented the special cash dividend of $0.40 per share, and $740,000 represented the quarterly dividend payment of $0.06 per share. During the first quarter of fiscal 2015, dividend payments totaled $5.5 million, of which $4.9 million represented a special cash dividend payment of $0.40 per share, and $611,000 represented a quarterly dividend payment of $0.05 per share. On September 2, 2015, we announced that our board of directors approved the payment of a quarterly cash dividend of $0.06 per share. The payment will be made on October 15, 2015 to shareholders of record as of October 1, 2015. Future dividend payments are subject to board approval and may be adjusted at the board’s discretion as business needs or market conditions change.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Aug. 02, 2015
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements None Recently Issued Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (“FASB”) amended its authoritative guidance on accounting for certain share-based payment awards. The amended guidance requires that share-based compensation awards with terms of a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award and compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. The guidance will be effective in our fiscal 2017 first quarter. The guidance will permit an entity to apply the amendments in the update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the consolidated financial statements and to all new or modified awards thereafter. Currently, we do not have any share-based payment awards with terms of a performance target that affects vesting and could be achieved after the requisite service period. We are currently assessing the impact that this guidance will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, which amends ASC Topic 606, Revenue from Contracts with Customers. Revenue from Contracts with Customers: Deferral of the Effective Date In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
Accounts Receivable (Tables)	Aug. 02, 2015
Receivables [Abstract]
Summary of Accounts Receivable	A summary of accounts receivable follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Customers $ 27,428 $ 25,212 $ 30,338 Allowance for doubtful accounts (935 ) (438 ) (851 ) Reserve for returns and allowances and discounts (786 ) (535 ) (738 ) $ 25,707 $ 24,239 $ 28,749
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) August 2, 2015 August 3, 2014 Beginning balance $ (851 ) $ (573 ) Provision for bad debts (96 ) 69 Net write-offs, net of recoveries 12 66 Ending balance $ (935 ) $ (438 )
Summary of the Activity in the Allowance for Returns and Allowances and Discounts Accounts	A summary of the activity in the allowance for returns and allowances and discounts accounts follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Beginning balance $ (738 ) $ (479 ) Provision for returns, allowances and discounts (709 ) (658 ) Credits issued 661 602 Ending balance $ (786 ) $ (535 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Aug. 02, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	A summary of inventories follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Raw materials $ 6,944 $ 6,145 $ 5,374 Work-in-process 3,018 2,174 2,766 Finished goods 36,582 33,369 34,344 $ 46,544 $ 41,688 $ 42,484

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Aug. 02, 2015
Text Block [Abstract]
Summary of Other Assets	A summary of other assets follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Cash surrender value – life insurance $ 339 $ 320 $ 339 Non-compete agreement, net 960 1,035 979 Customer relationships, net 753 804 766 Other 423 428 461 $ 2,475 $ 2,587 $ 2,545

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
Accrued Expenses (Tables)	Aug. 02, 2015
Text Block [Abstract]
Summary of Accrued Expenses	A summary of accrued expenses follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Compensation, commissions and related benefits $ 4,946 $ 4,053 $ 9,081 Interest 81 168 37 Other accrued expenses 2,704 2,144 2,011 $ 7,731 $ 6,365 $ 11,129

Long-Term Debt and Lines of C30

Long-Term Debt and Lines of Credit (Tables)	3 Months Ended
Long-Term Debt and Lines of Credit (Tables)	Aug. 02, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	A summary of long-term debt follows: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Unsecured senior term notes $ 2,200 $ 4,400 $ 2,200 Current maturities of long-term debt (2,200 ) (2,200 ) (2,200 ) Long-term debt, less current maturities of long-term debt $ - $ 2,200 $ -

Fair Value of Financial Instr31

Fair Value of Financial Instruments (Tables)	3 Months Ended
Fair Value of Financial Instruments (Tables)	Aug. 02, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents information about assets and liabilities measured at fair value on a recurring basis: Fair value measurements at August 2, 2015 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Premier Money Market Fund $ 2,705 N/A N/A $ 2,705 Intermediate Term Bond Fund 2,149 N/A N/A 2,149 Low Duration Bond Fund 2,100 N/A N/A 2,100 Limited Term Bond Fund 1,092 N/A N/A 1,092 Strategic Income Fund 995 N/A N/A 995 Growth Allocation Fund 109 N/A N/A 109 Other 79 N/A N/A 79 Fair value measurements at August 3, 2014 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Limited Term Bond Fund $ 2,578 N/A N/A $ 2,578 Low Duration Bond Fund 2,078 N/A N/A 2,078 Premier Money Market Fund 1,712 N/A N/A 1,712 Intermediate Term Bond Fund 1,655 N/A N/A 1,655 Other 37 N/A N/A 37 Fair value measurements at May 3, 2015 using: Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: Limited Term Bond Fund $ 3,107 N/A N/A $ 3,107 Premier Money Market Fund 2,285 N/A N/A 2,285 Intermediate Term Bond Fund 2,181 N/A N/A 2,181 Low Duration Bond Fund 2,096 N/A N/A 2,096 Strategic Income Fund 1,008 N/A N/A 1,008 Growth Allocation Fund 85 N/A N/A 85 Other 45 N/A N/A 45

Cash Flow Information (Tables)

Cash Flow Information (Tables)	3 Months Ended
Cash Flow Information (Tables)	Aug. 02, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Payments for Interest and Income Taxes	Payments for interest and income taxes follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Interest $ - $ - Net income tax payments 900 959

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
Net Income Per Share (Tables)	Aug. 02, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Used in the Computation of Basic and Diluted Net Income Per Share	Weighted average shares used in the computation of basic and diluted net income per share follows: Three months ended (amounts in thousands) August 2, 2015 August 3, 2014 Weighted average common shares outstanding, basic 12,277 12,212 Dilutive effect of stock-based compensation 179 192 Weighted average common shares outstanding, diluted 12,456 12,404

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Aug. 02, 2015
Segment Reporting [Abstract]
Schedule of Operating Segments Information	Financial information for the company’s operating segments follows: Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Net sales: Mattress Fabrics $ 47,808 $ 42,822 Upholstery Fabrics 32,377 33,238 $ 80,185 $ 76,060 Gross profit: Mattress Fabrics $ 9,925 $ 7,202 Upholstery Fabrics 6,277 5,513 $ 16,202 $ 12,715 Selling, general, and administrative expenses: Mattress Fabrics $ 2,923 $ 2,574 Upholstery Fabrics 3,595 3,452 Total segment selling, general, and 6,518 6,026 Unallocated corporate expenses 2,223 1,393 $ 8,741 $ 7,419 Income from operations: Mattress Fabrics $ 7,003 $ 4,629 Upholstery Fabrics 2,681 2,060 Total segment income from operations 9,684 6,689 Unallocated corporate expenses (2,223 ) (1,393 ) Total income from operations 7,461 5,296 Interest expense (24 ) (68 ) Interest income 66 142 Other (expense) income (95 ) 89 Income before income taxes $ 7,408 $ 5,459 Balance sheet information for the company’s operating segments follow: (dollars in thousands) August 2, 2015 August 3, 2014 May 3, 2015 Segment assets: Mattress Fabrics Current assets (1) $ 42,530 $ 37,970 $ 41,328 Non-compete agreement 960 1,035 979 Customer relationships 753 804 766 Goodwill 11,462 11,462 11,462 Property, plant and equipment (2) 35,116 29,604 33,773 Total mattress fabrics assets 90,821 80,875 88,308 Upholstery Fabrics Current assets (1) 29,721 27,957 29,905 Property, plant and equipment (3) 1,518 1,580 1,467 Total upholstery fabrics assets 31,239 29,537 31,372 Total segment assets 122,060 110,412 119,680 Non-segment assets: Cash and cash equivalents 25,933 24,665 29,725 Short-term investments 6,336 6,311 10,004 Deferred income taxes 7,398 7,176 5,237 Income taxes receivable 142 136 229 Other current assets 3,502 2,308 2,440 Property, plant and equipment (4) 846 707 838 Long-term investments 2,893 1,749 2,415 Other assets 762 748 800 Total assets $ 169,872 $ 154,212 $ 171,368 Three months ended (dollars in thousands) August 2, 2015 August 3, 2014 Capital expenditures (5): Mattress Fabrics $ 2,704 $ 2,129 Upholstery Fabrics 183 112 Unallocated Corporate 73 19 Total capital expenditures $ 2,960 $ 2,260 Depreciation expense: Mattress Fabrics $ 1,359 $ 1,219 Upholstery Fabrics 196 180 Total depreciation expense $ 1,555 $ 1,399 (1) Current assets represent accounts receivable and inventory for the respective segment. (2) The $35.1 million at August 2, 2015, represents property, plant, and equipment of $23.6 million and $11.5 million located in the U.S. and Canada, respectively. The $29.6 million at August 3, 2014, represents property, plant, and equipment of $21.2 million and $8.4 million located in the U.S. and Canada, respectively. The $33.8 million at May 3, 2015, represents property, plant, and equipment of $23.8 million and $10.0 million located in the U.S. and Canada, respectively. (3) The $1.5 million at August 2, 2015, represents property, plant, and equipment of $818 and $700 located in the U.S. and China, respectively. The $1.6 million at August 3, 2014, represents property, plant, and equipment located in the U.S. of $911, located in China of $627, and located in Poland of $42. The $1.5 million at May 3, 2015, represents property, plant, and equipment located in the U.S. of $848 and located in China of $619. (4) The $846, $707, and $838 at August 2, 2015, August 3, 2014 and May 3, 2015, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments. Property, plant, and equipment associated with corporate are located in the U.S. (5) Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) - USD ($)	Jul. 15, 2015	Mar. 03, 2015	Jun. 24, 2014	Jun. 25, 2013	Jul. 11, 2012	Aug. 02, 2015	Aug. 03, 2014
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted						0
Number of options to purchase common stock outstanding						110,100
Number of options exercisable						110,100
Weighted average exercise price for options outstanding						$ 7.75
Weighted average exercise price for options exercisable						$ 7.75
Weighted average contractual term for options outstanding						2 years 2 months 12 days
Weighted average contractual term for options exercisable						2 years 2 months 12 days
Aggregate intrinsic value for options outstanding						$ 2,500,000
Aggregate intrinsic value for options exercisable						2,500,000
Aggregate intrinsic value for options exercised						$ 814,000
Number of options exercised							0
Number of unvested stock option						0
Unrecognized stock based compensation cost						$ 0
Share-based compensation expense						$ 0	$ 0
Common Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted						0
Time Vested Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted						0
Number of shares outstanding and unvested						0
Remaining unrecognized compensation cost						$ 0
Number of shares vested							61,667
Weighted average fair value of vested shares							$ 257,000
Weighted average fair value of vested shares, per share							$ 4.17
Time Vested Restricted Stock Awards [Member] \| Selling, general and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense						0	$ 4,000
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized compensation cost						$ 2,900,000
Number of shares vested						115,855
Weighted average fair value of vested shares						$ 1,200,000
Weighted average fair value of vested shares, per share						$ 10.21
Closing price of common stock	$ 32.23		$ 17.70	$ 17.12	$ 10.21
Vesting period	3 years		3 years	3 years	3 years
Weighted average period over which unrecognized compensation cost is expected to be recognized						2 years 6 months
Performance Based Restricted Stock Units [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of common stock						$ 30.25
Vesting period						3 years
Performance Based Restricted Stock Units [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	107,554		102,845	72,380	120,000
Performance Based Restricted Stock Units [Member] \| Maximum [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	10,364	28,000
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						$ 265,000	$ 42,000
Performance Based Restricted Stock Units [Member] \| First Requisite Service Period [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		16 months
Performance Based Restricted Stock Units [Member] \| First Requisite Service Period [Member] \| Maximum [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted		12,000
Performance Based Restricted Stock Units [Member] \| Second Requisite Service Period [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		28 months
Performance Based Restricted Stock Units [Member] \| Second Requisite Service Period [Member] \| Maximum [Member] \| Non-employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted		16,000

Accounts Receivable (Detail)

Accounts Receivable (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014	Apr. 27, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customers	$ 27,428	$ 30,338		$ 25,212
Accounts receivable, net	25,707	28,749	[1]	24,239
Allowance for doubtful accounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Valuation allowance, balance	(935)	(851)		(438)	$ (573)
Reserve for returns and allowances and discounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Valuation allowance, balance	$ (786)	$ (738)		$ (535)	$ (479)

[1]	Derived from audited financial statements.

Accounts Receivable - Allowance

Accounts Receivable - Allowance for Doubtful Accounts (Detail) - Allowance for doubtful accounts [Member] - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ (851)	$ (573)
Provision for bad debts	(96)	69
Net write-offs, net of recoveries	12	66
Ending balance	$ (935)	$ (438)

Accounts Receivable - Allowan38

Accounts Receivable - Allowance for Returns and Allowances and Discounts (Detail) - Reserve for returns and allowances and discounts [Member] - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ (738)	$ (479)
Provision for returns, allowances and discounts	(709)	(658)
Credits issued	661	602
Ending balance	$ (786)	$ (535)

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 6,944	$ 5,374		$ 6,145
Work-in-process	3,018	2,766		2,174
Finished goods	36,582	34,344		33,369
Inventories	$ 46,544	$ 42,484	[1]	$ 41,688

[1]	Derived from audited financial statements.

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Other Assets Noncurrent [Line Items]
Cash surrender value - life insurance	$ 339	$ 339		$ 640
Non-compete agreement, net	960	979		1,035
Customer relationships, net	753	766		804
Other	423	461		428
Other assets	2,475	2,545	[1]	2,587
Other Noncurrent Assets [Member]
Other Assets Noncurrent [Line Items]
Cash surrender value - life insurance	$ 339	$ 339		$ 320

[1]	Derived from audited financial statements.

Other Assets - Narrative (Detai

Other Assets - Narrative (Detail)	3 Months Ended
Other Assets - Narrative (Detail)	Aug. 02, 2015USD ($)Contract	Nov. 02, 2014USD ($)	Aug. 03, 2014USD ($)Contract	May. 03, 2015USD ($)Contract	May. 16, 2014USD ($)
Other Assets [Line Items]
Gross carrying amount of non-compete agreement	$ 2,000,000		$ 2,000,000	$ 2,000,000
Gross carrying amount of customer relationships	$ 868,000		$ 868,000	$ 868,000
Number of life insurance contracts owned \| Contract	1		2	1
Life insurance contracts, death benefits to insured	$ 1,400,000		$ 3,900,000	$ 1,400,000
Life insurance contracts, cash surrender value	$ 339,000		640,000	339,000
Death benefits to beneficiary of insured on terminated life insurance agreement					$ 2,500,000
Collection of cash surrender value from termination of split dollar life insurance agreement		$ 320,000
Non-compete Agreement [Member]
Other Assets [Line Items]
Useful life	15 years
Accumulated amortization	$ 1,100,000		1,000,000	1,100,000
Amortization expense	19,000		19,000
Remaining amortization expense for the fiscal year	56,000
Remaining amortization expense for the second fiscal year	75,000
Remaining amortization expense for the third fiscal year	75,000
Remaining amortization expense for the fourth fiscal year	75,000
Remaining amortization expense for the fifth fiscal year	75,000
Remaining amortization expense for the fiscal year thereafter	$ 604,000
Weighted average remaining amortization period	12 years 9 months 18 days
Customer Relationships [Member]
Other Assets [Line Items]
Useful life	17 years
Accumulated amortization	$ 115,000		64,000	$ 102,000
Amortization expense	13,000		$ 13,000
Remaining amortization expense for the fiscal year	38,000
Remaining amortization expense for the second fiscal year	51,000
Remaining amortization expense for the third fiscal year	51,000
Remaining amortization expense for the fourth fiscal year	51,000
Remaining amortization expense for the fifth fiscal year	51,000
Remaining amortization expense for the fiscal year thereafter	$ 511,000
Weighted average remaining amortization period	14 years 9 months 18 days

Accrued Expenses (Detail)

Accrued Expenses (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Payables and Accruals [Abstract]
Compensation, commissions and related benefits	$ 4,946	$ 9,081		$ 4,053
Interest	81	37		168
Other accrued expenses	2,704	2,011		2,144
Accrued expenses	$ 7,731	$ 11,129	[1]	$ 6,365

[1]	Derived from audited financial statements.

Long-Term Debt and Lines of C43

Long-Term Debt and Lines of Credit (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Debt Disclosure [Abstract]
Unsecured senior term notes	$ 2,200	$ 2,200		$ 4,400
Current maturities of long-term debt	$ (2,200)	$ (2,200)	[1]	(2,200)
Long-term debt, less current maturities of long-term debt				$ 2,200

[1]	Derived from audited financial statements.

Long-Term Debt and Lines of C44

Long-Term Debt and Lines of Credit - Long-Term Debt - Narrative (Detail) $ in Thousands	Aug. 11, 2015USD ($)Payment	Aug. 02, 2015USD ($)	May. 03, 2015USD ($)	Aug. 03, 2014USD ($)	Aug. 11, 2008USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 2,200	$ 2,200	$ 4,400
Unsecured senior term notes [Member]
Debt Instrument [Line Items]
Issuance of unsecured senior term notes					$ 11,000
Fixed interest rate					8.01%
Term of the note agreement		7 years
Required amount of principal payment installments		$ 2,200
Required debt payment frequency		Annual
Date of first required principal payment		Aug. 11, 2011
Long-term debt, fair value		$ 2,300	$ 2,300	$ 4,600
Unsecured senior term notes [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Remaining annual payment paid	$ 2,200
Number of remaining annual payment paid \| Payment	1

Long-Term Debt and Lines of C45

Long-Term Debt and Lines of Credit - Lines of Credit - Narrative (Detail)	Jul. 10, 2015USD ($)	Aug. 02, 2015USD ($)	Aug. 03, 2014USD ($)	May. 03, 2015USD ($)	Aug. 02, 2015CNY (¥)	Aug. 03, 2014EUR (€)
United States [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 10,000,000
Interest rate description		Interest is charged at a rate equal to the one-month LIBOR rate plus a spread based on our ratio of debt to EBITDA as defined in the agreement
Expiration date	Aug. 31, 2017			Aug. 31, 2015
Reference rate on which the interest rate is based		One-month LIBOR rate
Applicable interest rate at end of period		1.69%	1.76%	1.78%	1.69%	1.76%
Annual capital expenditures limit	$ 12,000,000
Letter of credit, outstanding amount		$ 250,000	$ 195,000	$ 250,000
Outstanding amount		0	0	0
China [Member] \| Revolving credit agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 6,400,000			¥ 40,000,000
Interest rate description		This agreement has an interest rate determined by the Chinese government.
Expiration date		Feb. 9, 2016
Outstanding amount		$ 0	0	$ 0	¥ 0
Europe [Member] \| Revolving credit agreement [Member]
Line of Credit Facility [Line Items]
Interest rate description		Incurred interest at the EURO LIBOR plus 2%
Reference rate on which the interest rate is based		EURO LIBOR
Outstanding amount		$ 0	$ 569,000			€ 424,000
Percent added to reference rate in effect from time to time to set the interest rate			2.00%

Fair Value of Financial Instr46

Fair Value of Financial Instruments - Recurring Basis (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015	Aug. 03, 2014
Limited Term Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	$ 1,092	$ 3,107	$ 2,578
Premier Money Market Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,705	2,285	1,712
Intermediate Term Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,149	2,181	1,655
Low Duration Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,100	2,096	2,078
Strategic Income Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	995	1,008
Growth Allocation Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	109	85
Other [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	79	45	37
Quoted prices in active markets for identical assets - Level 1 [Member] \| Limited Term Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	1,092	3,107	2,578
Quoted prices in active markets for identical assets - Level 1 [Member] \| Premier Money Market Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,705	2,285	1,712
Quoted prices in active markets for identical assets - Level 1 [Member] \| Intermediate Term Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,149	2,181	1,655
Quoted prices in active markets for identical assets - Level 1 [Member] \| Low Duration Bond Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	2,100	2,096	2,078
Quoted prices in active markets for identical assets - Level 1 [Member] \| Strategic Income Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	995	1,008
Quoted prices in active markets for identical assets - Level 1 [Member] \| Growth Allocation Fund [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	109	85
Quoted prices in active markets for identical assets - Level 1 [Member] \| Other [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets measured at fair value on a recurring basis	$ 79	$ 45	$ 37

Fair Value of Financial Instr47

Fair Value of Financial Instruments - Narrative (Detail) - USD ($)	3 Months Ended
	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term investments	$ 2,893,000	$ 2,415,000	[1]	$ 1,749,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments, maturity period	3 months
Short-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term bond funds	$ 6,300,000	10,000,000		6,300,000
Unrealized loss on short-term bond funds	$ (184,000)	$ (95,000)		$ (70,000)

[1]	Derived from audited financial statements.

Cash Flow Information (Detail)

Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
Cash Flow Information (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	Aug. 03, 2014
Supplemental Cash Flow Elements [Abstract]
Interest	$ 0	$ 0
Net income tax payments	$ 900	$ 959

Cash Flow Information - Narrati

Cash Flow Information - Narrative (Detail) - USD ($)	3 Months Ended
Cash Flow Information - Narrative (Detail) - USD ($)	Aug. 02, 2015	Aug. 03, 2014
Supplemental Cash Flow Elements [Abstract]
Interest cost capitalized	$ 20,000	$ 30,000

Net Income Per Share - Weighted

Net Income Per Share - Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Earnings Per Share [Abstract]
Weighted average common shares outstanding, basic	12,277	12,212
Dilutive effect of stock-based compensation	179	192
Weighted average common shares outstanding, diluted	12,456	12,404

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
Segment Information - Narrative (Detail)	Aug. 02, 2015Segment
Segment Reporting [Abstract]
Number of business segments	2

Segment Information - Financial

Segment Information - Financial Information for Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Segment Reporting Information [Line Items]
Net sales	$ 80,185	$ 76,060
Gross profit	16,202	12,715
Selling, general, and administrative expenses	8,741	7,419
Income from operations	7,461	5,296
Interest expense	(24)	(68)
Interest income	66	142
Other (expense) income	(95)	89
Income before income taxes	7,408	5,459
Operating Segments [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses	6,518	6,026
Income from operations	9,684	6,689
Operating Segments [Member] \| Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Net sales	47,808	42,822
Gross profit	9,925	7,202
Selling, general, and administrative expenses	2,923	2,574
Income from operations	7,003	4,629
Operating Segments [Member] \| Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Net sales	32,377	33,238
Gross profit	6,277	5,513
Selling, general, and administrative expenses	3,595	3,452
Income from operations	2,681	2,060
Unallocated corporate [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses	2,223	1,393
Income from operations	$ (2,223)	$ (1,393)

Segment Information - Balance S

Segment Information - Balance Sheet Information by Operating Segments (Detail) - USD ($) $ in Thousands		Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014	Apr. 27, 2014
Segment Reporting Information [Line Items]
Non-compete agreement		$ 960	$ 979		$ 1,035
Customer relationships		753	766		804
Goodwill		11,462	11,462	[1]	11,462
Property, plant and equipment		37,480	36,078	[1]	31,891
Total assets		169,872	171,368	[1]	154,212
Cash and cash equivalents		25,933	29,725	[1]	24,665	$ 29,303
Short-term investments		6,336	10,004	[1]	6,311
Income taxes receivable		142	229	[1]	136
Other current assets		3,502	2,440	[1]	2,308
Long-term investments		2,893	2,415	[1]	1,749
Other assets		2,475	2,545	[1]	2,587
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets		122,060	119,680		110,412
Unallocated corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	[2]	846	838		707
Cash and cash equivalents		25,933	29,725		24,665
Short-term investments		6,336	10,004		6,311
Deferred income taxes		7,398	5,237		7,176
Income taxes receivable		142	229		136
Other current assets		3,502	2,440		2,308
Long-term investments		2,893	2,415		1,749
Other assets		762	800		748
Mattress Fabrics [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Current assets	[3]	42,530	41,328		37,970
Non-compete agreement		960	979		1,035
Customer relationships		753	766		804
Goodwill		11,462	11,462		11,462
Property, plant and equipment	[4]	35,116	33,773		29,604
Total assets		90,821	88,308		80,875
Upholstery Fabrics [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Current assets	[3]	29,721	29,905		27,957
Property, plant and equipment	[5]	1,518	1,467		1,580
Total assets		$ 31,239	$ 31,372		$ 29,537

[1]	Derived from audited financial statements.
[2]	The $846, $707, and $838 at August 2, 2015, August 3, 2014 and May 3, 2015, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments. Property, plant, and equipment associated with corporate are located in the U.S.
[3]	Current assets represent accounts receivable and inventory for the respective segment.
[4]	The $35.1 million at August 2, 2015, represents property, plant, and equipment of $23.6 million and $11.5 million located in the U.S. and Canada, respectively. The $29.6 million at August 3, 2014, represents property, plant, and equipment of $21.2 million and $8.4 million located in the U.S. and Canada, respectively. The $33.8 million at May 3, 2015, represents property, plant, and equipment of $23.8 million and $10.0 million located in the U.S. and Canada, respectively.
[5]	The $1.5 million at August 2, 2015, represents property, plant, and equipment of $818 and $700 located in the U.S. and China, respectively. The $1.6 million at August 3, 2014, represents property, plant, and equipment located in the U.S. of $911, located in China of $627, and located in Poland of $42. The $1.5 million at May 3, 2015, represents property, plant, and equipment located in the U.S. of $848 and located in China of $619.

Segment Information - Capital E

Segment Information - Capital Expenditures and Depreciation Expense By Operating Segments (Detail) - USD ($) $ in Thousands		3 Months Ended
		Aug. 02, 2015	Aug. 03, 2014
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 2,960	$ 2,260
Depreciation expense		1,555	1,399
Operating Segments [Member] \| Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Capital expenditures		2,704	2,129
Depreciation expense		1,359	1,219
Operating Segments [Member] \| Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Capital expenditures		183	112
Depreciation expense		196	180
Unallocated corporate [Member]
Segment Reporting Information [Line Items]
Capital expenditures		$ 73	$ 19

[1]	Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Segment Information - Balance55

Segment Information - Balance Sheet Information by Operating Segments (Parenthetical) (Detail) - USD ($) $ in Thousands		Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Segment Reporting Information [Line Items]
Property, plant and equipment		$ 37,480	$ 36,078	[1]	$ 31,891
Unallocated corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	[2]	846	838		707
United States [Member] \| Unallocated corporate [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		846	838		707
Mattress Fabrics [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		23,600	23,800		21,200
Mattress Fabrics [Member] \| Canada [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		11,500	10,000		8,400
Upholstery Fabrics [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		818	848		911
Upholstery Fabrics [Member] \| China [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment		$ 700	$ 619		627
Upholstery Fabrics [Member] \| Poland [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment					$ 42

[1]	Derived from audited financial statements.
[2]	The $846, $707, and $838 at August 2, 2015, August 3, 2014 and May 3, 2015, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments. Property, plant, and equipment associated with corporate are located in the U.S.

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Income Taxes [Line Items]
Income taxes	$ 2,707	$ 2,115
Income tax rate	36.50%	38.70%
Statutory rate	34.00%	34.00%
Decrease in income tax rate from the lower statutory income tax rates in foreign jurisdictions compared with the U.S statutory income tax rate	(6.00%)	(6.00%)
Increase in income tax rate from income tax effects of undistributed earnings from foreign subsidiaries	5.00%	3.00%
Increase in income tax rate from an increase in unrecognized tax benefits	3.00%	5.00%
Increase in income tax rate for other miscellaneous items	0.50%	2.70%
Canada and China [Member]
Income Taxes [Line Items]
Decrease in income tax rate from the lower statutory income tax rates in foreign jurisdictions compared with the U.S statutory income tax rate	(6.00%)	(6.00%)
Increase in income tax rate from income tax effects of undistributed earnings from foreign subsidiaries	5.00%	3.00%

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes - Valuation Allowance - Narrative (Detail) - USD ($)	Aug. 02, 2015	May. 03, 2015	Aug. 03, 2014
U.S. Tax Authorities and Poland Tax Authorities [Member] \| Valuation Allowance, Operating Loss Carryforwards [Member]
Income Taxes [Line Items]
Valuation allowance	$ 926,000	$ 922,000	$ 1,100,000
U.S. State Tax [Member] \| Valuation Allowance, Operating Loss Carryforwards [Member]
Income Taxes [Line Items]
Valuation allowance	561,000	561,000	666,000
Poland [Member] \| Valuation Allowance, Operating Loss Carryforwards [Member] \| Culp Europe [Member]
Income Taxes [Line Items]
Valuation allowance	365,000	361,000	419,000
Canada and China [Member]
Income Taxes [Line Items]
Valuation allowance	$ 0	$ 0	$ 0

Income Taxes - Deferred Incom58

Income Taxes - Deferred Income Taxes - Undistributed Earnings - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	May. 03, 2015
Income Tax Disclosure [Abstract]
Deferred tax liability, undistributed earnings from foreign subsidiaries	$ 2	$ 2.1	$ 1.7
U.S. income and foreign withholding taxes	33.8	29.4	32.4
U.S. foreign income tax credits	31.8	27.3	30.7
Undistributed earnings from our foreign subsidiaries that will not be reinvested indefinitely	$ 88.6	$ 75.8	$ 85.2

Income Taxes - Deferred Incom59

Income Taxes - Deferred Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	May. 03, 2015		Aug. 03, 2014
Income Taxes [Line Items]
Current deferred tax asset	$ 6,986	$ 4,790	[1]	$ 6,203
Non-current deferred tax asset	412	447	[1]	973
Non-current deferred tax liability	4,064	1,050	[1]	1,013
U.S. Tax Authorities [Member]
Income Taxes [Line Items]
Current deferred tax asset	6,500	4,400		5,800
Non-current deferred tax asset				440
Non-current deferred tax liability	3,000	154
China [Member]
Income Taxes [Line Items]
Current deferred tax asset	502	421		405
Non-current deferred tax asset	412	447		533
Canada [Member]
Income Taxes [Line Items]
Non-current deferred tax liability	$ 1,100	$ 896		$ 1,000

[1]	Derived from audited financial statements.

Income Taxes - Uncertainty in I

Income Taxes - Uncertainty in Income Taxes - Narrative (Detail) - USD ($)	Aug. 02, 2015	May. 03, 2015	Aug. 03, 2014
Income Taxes [Line Items]
Unrecognized tax benefits	$ 14,200,000	$ 14,100,000	$ 14,000,000
Unrecognized tax benefits that would favorably impact effective income tax rate if recognized	3,600,000	3,800,000	4,000,000
Expected increase in unrecognized tax benefits related to double taxation under applicable tax treaties with foreign tax jurisdictions	867,000
Net Non-current Deferred Income Taxes [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	10,600,000	10,300,000	10,000,000
Income Taxes Payable - Long-Term [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	$ 3,600,000	$ 3,800,000	$ 4,000,000

Statutory Reserves (Detail)

Statutory Reserves (Detail) - Aug. 02, 2015 - Subsidiaries [Member] - China [Member] - USD ($) $ in Millions	Total
Statutory Reserve [Line Items]
Percentage of net income required to be transferred to a statutory surplus reserve fund	10.00%
Maximum required percentage of statutory surplus reserve fund to registered capital	50.00%
Statutory surplus reserve fund balance	$ 5
Percentage of accumulated earnings and profits determined in accordance with PRC accounting rules and regulations	10.00%
Minimum threshold percentage for statutory surplus reserve fund as percentage of registered capital, below which certain capital transactions are prohibited	25.00%

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($)	Aug. 02, 2015	May. 03, 2015	Aug. 03, 2014
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member]
Commitments and Contingencies Disclosure [Line Items]
Open purchase commitments	$ 2,600,000	$ 2,300,000	$ 3,500,000

Common Stock Repurchase Progr63

Common Stock Repurchase Program (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
Common Stock Repurchase Program (Detail) - USD ($)	Aug. 02, 2015	Nov. 02, 2014	May. 03, 2015	Feb. 25, 2014
Stockholders Equity Note [Line Items]
Cost of common stock repurchased			$ 745,000
Common Stock
Stockholders Equity Note [Line Items]
Common stock repurchased			43,014
Cost of common stock repurchased			$ 2,000
Common Stock Repurchase Program February 25, 2014 [Member] \| Common Stock
Stockholders Equity Note [Line Items]
Authorization amount for repurchase of common stock				$ 5,000,000
Common stock repurchased	0	43,014
Cost of common stock repurchased		$ 745,000
Remaining authorized repurchase amount	$ 4,300,000

Dividend Program (Detail)

Dividend Program (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 02, 2015	Jun. 18, 2015	Aug. 02, 2015	Aug. 03, 2014
Dividends [Line Items]
Cash dividends paid			$ 5,676	$ 5,502
Date of payment to shareholders entitled to dividends		Jul. 15, 2015
Date of record of shareholders entitled to dividends		Jul. 1, 2015
Special Dividend [Member]
Dividends [Line Items]
Cash dividend declared, per share		$ 0.40
Cash dividend payment, per share			$ 0.40	$ 0.40
Cash dividends paid			$ 5,000	$ 4,900
Quarterly Dividend [Member]
Dividends [Line Items]
Cash dividend declared, per share		$ 0.06
Cash dividend payment, per share			$ 0.06	$ 0.05
Cash dividends paid			$ 740	$ 611
Quarterly Dividend [Member] \| Subsequent Event [Member]
Dividends [Line Items]
Cash dividend declared, per share	$ 0.06
Date of payment to shareholders entitled to dividends	Oct. 15, 2015
Date of record of shareholders entitled to dividends	Oct. 1, 2015