Culp (CULP) 10-Q 9 Sep 22 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 31, 2022	Sep. 07, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	CULP INC
Entity Central Index Key	0000723603
Current Fiscal Year End Date	--04-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	CULP
Entity Common Stock, Shares Outstanding		12,274,786
Entity File Number	1-12597
Entity Tax Identification Number	56-1001967
Entity Address, Address Line One	1823 Eastchester Drive
Entity Address, City or Town	High Point
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27265-1402
City Area Code	336
Local Phone Number	889-5161
Entity Incorporation State Country Code	NC
Title of 12(b) Security	Common Stock, par value $.05/ Share
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME - USD ($) shares in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Income Statement [Abstract]
Net sales	$ 62,604,000	$ 83,047,000
Cost of sales	(58,476,000)	(70,548,000)
Gross profit	4,128,000	12,499,000
Selling, general and administrative expenses	(8,866,000)	(9,181,000)
(Loss) income from operations	(4,738,000)	3,318,000
Interest income	17,000	74,000
Other expense	(82,000)	(237,000)
(Loss) income before income taxes	(4,803,000)	3,155,000
Income tax expense	(896,000)	(905,000)
Net (loss) income	$ (5,699,000)	$ 2,250,000
Net (loss) income per share - basic	$ (0.47)	$ 0.18
Net (loss) income per share - diluted	$ (0.47)	$ 0.18
Average shares outstanding, basic	12,238	12,313
Average shares outstanding, diluted	12,238	12,415

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Consolidated Statements of Comprehensive (Loss) Income
Net (loss) income	$ (5,699)	$ 2,250
Unrealized holding (loss) gain on investments, net of tax	(7)	148
Comprehensive (loss) income	$ (5,706)	$ 2,398

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2022	May 01, 2022	[1]	Aug. 01, 2021
Current assets:
Cash and cash equivalents	$ 18,874,000	$ 14,550,000		$ 26,061,000
Short-term investments - held-to-maturity				1,661,000
Short-term investments - available for sale				9,698,000
Accounts receivable, net	24,812,000	22,226,000		35,008,000
Inventories	63,749,000	66,557,000		58,613,000
Current income taxes receivable	798,000	857,000		524,000
Other current assets	3,840,000	2,986,000		3,889,000
Total current assets	112,073,000	107,176,000		135,454,000
Property, plant and equipment, net	40,490,000	41,702,000		43,930,000
Right of use assets	14,556,000	15,577,000		11,447,000
Long-term investments - rabbi trust	9,567,000	9,357,000		8,841,000
Long-term investments - held-to-maturity				6,629,000
Intangible assets	2,534,000	2,628,000		2,910,000
Deferred income taxes	546,000	528,000		455,000
Other assets	724,000	595,000		2,582,000
Total assets	180,490,000	177,563,000		212,248,000
Current liabilities:
Accounts payable - trade	29,097,000	20,099,000		45,285,000
Accounts payable - capital expenditures	346,000	473,000		48,000
Operating lease liability - current	3,126,000	3,219,000		2,727,000
Deferred revenue	1,368,000	520,000		694,000
Accrued expenses	7,158,000	7,832,000		9,950,000
Income taxes payable - current	587,000	413,000		253,000
Total current liabilities	41,682,000	32,556,000		58,957,000
Operating lease liability - long-term	6,160,000	7,062,000		6,665,000
Income taxes payable - long-term	3,118,000	3,097,000		3,365,000
Deferred income taxes	6,007,000	6,004,000		4,917,000
Deferred compensation	9,528,000	9,343,000		8,795,000
Total liabilities	66,495,000	58,062,000		82,699,000
Commitments and Contingencies (Notes 8, 14, and 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 12,274,786 at July 31, 2022; 12,276,286 at August 1, 2021; and 12,228,629 at May 1, 2022	614,000	611,000		614,000
Capital contributed in excess of par value	43,340,000	43,143,000		43,310,000
Accumulated earnings	70,016,000	75,715,000		85,331,000
Accumulated other comprehensive income	25,000	32,000		294,000
Total shareholders' equity	113,995,000	119,501,000		129,549,000
Total liabilities and shareholders' equity	$ 180,490,000	$ 177,563,000		$ 212,248,000
[1]Derived from audited financial statements.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2022	May 01, 2022	[1]	Aug. 01, 2021
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	12,274,786	12,228,629		12,276,286
Common stock, outstanding	12,274,786	12,228,629		12,276,286
[1]Derived from audited financial statements.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Cash flows from operating activities:
Net (loss) income	$ (5,699)	$ 2,250
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	1,770	1,726
Amortization	105	121
Stock-based compensation	252	274
Deferred income taxes	(15)	(323)
Gain sale of equipment	(64)
Foreign currency exchange (gain) loss	(161)	3
Changes in assets and liabilities:
Accounts receivable	(2,643)	2,715
Inventories	2,644	(2,676)
Other current assets	(955)	(39)
Other assets	21	(556)
Accounts payable – trade	9,338	2,723
Deferred revenue	848	154
Accrued expenses and deferred compensation	(413)	(4,336)
Income taxes	281	(465)
Net cash provided by operating activities	5,309	1,571
Cash flows from investing activities:
Capital expenditures	(711)	(1,953)
Proceeds from the sale of equipment	166
Proceeds from the maturity of short-term investments (Held to Maturity)		1,967
Purchase of short-term and long-term investments (Held to Maturity)		(5,973)
Purchase of short-term investments (Available for Sale)		(4,031)
Proceeds from the sale of long-term investments (rabbi trust)	23
Purchase of long-term investments (rabbi trust)	(236)	(403)
Net cash used in investing activities	(758)	(10,393)
Cash flows from financing activities:
Dividends paid		(1,356)
Common stock repurchased		(723)
Common stock surrendered for withholding taxes payable		(50)
Payments of debt issuance costs	(161)
Net cash used in financing activities	(161)	(2,129)
Effect of exchange rate changes on cash and cash equivalents	(66)	3
Increase (decrease) in cash and cash equivalents	4,324	(10,948)
Cash and cash equivalents at beginning of period	14,550	37,009
Cash and cash equivalents at end of period	$ 18,874	$ 26,061

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)		Total	Common Stock	Capital Contributed in Excess of Par Value	Accumulated Earnings	Accumulated Other Comprehensive (Loss) Income
Balance at May. 02, 2021	[1]	$ 129,006,000	$ 616,000	$ 43,807,000	$ 84,437,000	$ 146,000
Balance (in shares) at May. 02, 2021	[1]		12,312,822
Net income (loss)		2,250,000			2,250,000
Stock-based compensation		274,000		274,000
Unrealized gain (loss) on investments		148,000				148,000
Common stock issued in connection with vesting of performance based restricted stock units (in shares)			10,863
Common stock surrendered in connection with payroll withholding taxes		(50,000)		(50,000)
Common stock surrendered in connection with payroll withholding taxes (in shares)			(3,025)
Fully vested common stock award, (in shares)			4,312
Common stock repurchased		(723,000)	$ (2,000)	(721,000)
Common stock repurchased (in shares)			(48,686)
Dividends paid		(1,356,000)			(1,356,000)
Balance at Aug. 01, 2021		129,549,000	$ 614,000	43,310,000	85,331,000	294,000
Balance (in shares) at Aug. 01, 2021			12,276,286
Balance at May. 01, 2022	[1]	119,501,000	$ 611,000	43,143,000	75,715,000	32,000
Balance (in shares) at May. 01, 2022	[1]		12,228,629
Net income (loss)		(5,699,000)			(5,699,000)
Stock-based compensation		252,000		252,000
Unrealized gain (loss) on investments		(7,000)				(7,000)
Common stock issued in connection with vesting of performance based restricted stock units (in shares)			913
Common stock issued in connection with the vesting of time-based restricted stock units			$ 2,000	(2,000)
Common stock issued in connection with the vesting of time-based restricted stock units (in shares)			32,199
Common stock surrendered in connection with payroll withholding taxes		(52,000)		(52,000)
Common stock surrendered in connection with payroll withholding taxes (in shares)			(6,708)
Fully vested common stock award			$ 1,000	(1,000)
Fully vested common stock award, (in shares)			19,753
Common stock repurchased (in shares)			0
Balance at Jul. 31, 2022		$ 113,995,000	$ 614,000	$ 43,340,000	$ 70,016,000	$ 25,000
Balance (in shares) at Jul. 31, 2022			12,274,786
[1]Derived from audited financial statements.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jul. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Culp, Inc. and its majority-owned subsidiaries (the “company”) include all adjustments, which are, in the opinion of management, necessary for fair presentation of the results of operations and financial position. All these adjustments are of a normal recurring nature. Results of operations for interim periods may not be indicative of future results. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, which are included in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission on July 15, 2022, for the fiscal year ended May 1, 2022. The company’s three-months ended July 31, 2022, and August 1, 2021, each represent 13-week periods.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies As of July 31, 2022, 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 1, 2022. Recently Adopted Accounting Pronouncements There were not any recently adopted accounting pronouncements during the first quarter of fiscal 2023. Recently Issued Accounting Pronouncements Currently, there are no new recent accounting pronouncements that are expected to have a material effect on our consolidated financial statements.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	3 Months Ended
	Jul. 31, 2022
Receivables [Abstract]
Allowance for Doubtful Accounts	3. Allowance for Doubtful Accounts A summary of the activity in the allowance for doubtful accounts follows: Three Months Ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 292 $ 591 Provision for bad debts 57 (11 ) Ending balance $ 349 $ 580 During the three-month periods ended July 31, 2022, and August 1, 2021, we assessed the credit risk of our customers within our accounts receivable portfolio. Our risk assessment includes the respective customer’s (i) financial position; (ii) past payment history; (iii) management’s general ability; and (iv) historical loss experience; as well as (v) any other ongoing economic conditions. After our risk assessment was completed, we assigned credit grades to our customers, which in turn, were used to determine our allowance for doubtful accounts totaling $349,000 and $580,000 as of July 31, 2022 and August 1, 2021, respectively. On June 25, 2022, a customer and its affiliates associated with our mattress fabrics segment announced that they filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Subject to court approval, our customer and its affiliates entered into an asset purchase agreement for the sale of substantially all of their assets. The proposed buyer under the asset purchase agreement has also provided a commitment for debtor-in-possession financing to allow our customer and its affiliates to conduct normal business operations pending the anticipated closing of the sale. A credit loss associated with accounts receivable outstanding as of May 1, 2022, for this customer and its affiliates was not recorded as we received payment in full regarding these invoices, and based on information available to us at this time, we do not believe there is a risk of material loss on these accounts. In addition, based on the information available to us at this time, we currently do not expect to record a material credit loss associated with accounts receivable for this customer and its affiliates for outstanding invoices after May 1, 2022 relating to products sold prior to bankruptcy filing.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Jul. 31, 2022
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	4 . Nature of Performance Obligations Our operations are classified into two business segments: mattress fabrics and upholstery fabrics. The mattress fabrics segment manufactures, sources, and sells fabrics and mattress covers primarily to bedding manufacturers. The upholstery fabrics segment develops, manufactures, sources, and sells fabrics primarily to residential and commercial furniture manufacturers. In addition, the upholstery fabrics segment includes Read Window Products LLC (“Read”), which provides window treatments and sourcing of upholstery fabrics and other products, as well as measuring and installation services for Read’s products, to customers in the hospitality and commercial industries. Read also supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Our primary performance obligations include the sale of mattress fabrics and upholstery fabrics, as well as the performance of customized fabrication and installation services for Read’s products associated with window treatments. Contract Assets & Liabilities Certain contracts, primarily those for customized fabrication and installation services associated with Read, require upfront customer deposits that result in a contract liability which is recorded on the Consolidated Balance Sheets as deferred revenue. If upfront deposits or prepayments are not required, customers may be granted credit terms which generally range from 15–60 days. Our terms are customary within the industries in which we operate and are not considered financing arrangements. There were no contract assets recognized as of July 31, 2022, August 1, 2021, and May 1, 2022. A summary of the activity associated with deferred revenue follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 520 $ 540 Revenue recognized on contract liabilities (821 ) (611 ) Payments received for services not yet rendered 1,669 765 Ending balance $ 1,368 $ 694 Disaggregation of Revenue The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 31, 2022: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,371 $ 31,523 $ 60,894 Services transferred over time — 1,710 1,710 Total Net Sales $ 29,371 $ 33,233 $ 62,604 The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending August 1, 2021: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 43,058 $ 38,290 $ 81,348 Services transferred over time — 1,699 1,699 Total Net Sales $ 43,058 $ 39,989 $ 83,047

Inventories

Inventories	3 Months Ended
	Jul. 31, 2022
Inventory Disclosure [Abstract]
Inventories	5. Inventories Inventories are carried at the lower of cost or net realizable value. Cost is determined using the FIFO (first-in, first-out) method. A summary of inventories follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Raw materials $ 12,690 $ 9,443 $ 13,477 Work-in-process 4,985 3,637 4,237 Finished goods 46,074 45,533 48,843 $ 63,749 $ 58,613 $ 66,557

Intangible Assets

Intangible Assets	3 Months Ended
	Jul. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets A summary of intangible assets follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Tradename $ 540 $ 540 $ 540 Customer relationships, net 1,561 1,862 1,636 Non-compete agreement, net 433 508 452 $ 2,534 $ 2,910 $ 2,628 Tradename Our tradename as of July 31, 2022, August 1, 2021, and May 1, 2022, pertained to Read, a separate reporting unit within the upholstery fabrics segment. This tradename was determined to have an indefinite useful life at the time of its acquisition, and therefore is not being amortized. However, we are required to assess this tradename annually or between annual tests if we believe indicators of impairment exist. Based on our assessment as of July 31, 2022, no indicators of impairment existed, and therefore we did not record any asset impairment charges associated with our tradename during the first quarter of fiscal 2023. Customer Relationships A summary of the change in the carrying amount of our customer relationships follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 1,636 $ 1,937 Amortization expense (75 ) (75 ) Ending balance $ 1,561 $ 1,862 Our customer relationships are amortized on a straight-line basis over useful lives ranging from nine to seventeen years. The gross carrying amount of our customer relationships was $3.1 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. Accumulated amortization for these customer relationships was $1.6 million, $1.3 million, and $1.5 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2023 - $226,000; FY 2024 - $301,000; FY 2025 - $301,000; FY 2026 - $301,000; FY 2027 - $278,000; and thereafter - $154,000. The weighted average amortization period for our customer relationships was 5.5 years as of July 31, 2022. Non-Compete Agreement A summary of the change in the carrying amount of our non-compete agreement follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 452 $ 527 Amortization expense (19 ) (19 ) Ending balance $ 433 $ 508 Our non-compete agreement is associated with a prior acquisition by our mattress fabrics segment and is amortized on a straight-line basis over the fifteen-year The gross carrying amount of our non-compete agreement was $2.0 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. Accumulated amortization for our non-compete agreement was $1.6 million as of July 31, 2022, August 1, 2021, and May 1, 2022. The remaining amortization expense for the next five years and thereafter follows: FY 2023 - $56,000; FY 2024 - $76,000; FY 2025 - $76,000; FY 2026 - $76,000; FY 2027 - $76,000, and thereafter - $73,000. The weighted average amortization period for the non-compete agreement was 5.8 years as of July 31, 2022.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Jul. 31, 2022
Text Block [Abstract]
Accrued Expenses	7. Accrued Expenses A summary of accrued expenses follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Compensation, commissions and related benefits $ 3,890 $ 5,006 $ 4,248 Other accrued expenses 3,268 4,944 3,584 $ 7,158 $ 9,950 $ 7,832

Lines of Credit

Lines of Credit	3 Months Ended
	Jul. 31, 2022
Debt Disclosure [Abstract]
Lines of Credit	8. Lines of Credit Revolving Credit Agreement – United States Existing Credit Agreement As of May 1, 2022, we had a Credit Agreement (the “Existing Credit Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”) that provided a revolving loan commitment of $30 million, was set to expire on August 15, 2022, and allowed us to issue letters of credit not to exceed $1 million. Amended Agreement Effective June 24, 2022, we entered into an Amended and Restated Credit Agreement (“the Amended Agreement”) with Wells Fargo. The Amended Agreement amends, restates, supersedes, and serves as a replacement for the Existing Credit Agreement. The Amended Agreement provides a revolving credit facility of up to $40 million, is secured by a lien on the company’s assets, and expires in June 2025. The proceeds of borrowings under the Amended Agreement are to be used for working capital and other general corporate purposes. The company’s available borrowings under the Amended Agreement are based on a borrowing base calculation using certain accounts receivable and inventory of the company, subject to certain sub-limits as defined in the Amended Agreement, to be calculated on a monthly basis. Similar to the Existing Credit Agreement, the Amended Agreement contains a sub-facility that allows the company to issue letters of credit in an aggregate amount not to exceed $1 million. Borrowings under the Amended Agreement bear interest at a rate calculated using a margin (the “Applicable Margin”) over the Federal Reserve Bank of New York’s secured overnight funding rate (SOFR). The Applicable Margin is set initially at 1.35% and may vary under the terms of the Amended Agreement from 1.35% to 2.50%, depending on the ratio of the company’s consolidated debt to consolidated EBITDA, as defined in the Amended Agreement, determined on a quarterly basis. The Amended Agreement contains customary affirmative and negative covenants and requires compliance by the company with certain financial covenants, including minimum tangible net worth of $100 million plus 50% of annual net income, and a minimum ratio of consolidated EBITDA to consolidated net interest expense of 3.0 to 1.0 as defined in the Amended Agreement. The EBITDA to interest expense covenant does not apply under the Amended Agreement during the first three quarters of the company’s fiscal 2023, but during that period, the company must maintain “access to liquidity” of $15 million, which is defined as unencumbered liquid assets plus available and unused credit under the revolving credit facility as calculated using the borrowing base, as defined in the Amended Agreement. First Amendment On August 19, 2022, we entered into a First Amendment to the Amended Agreement (“the First Amendment”) with Wells Fargo. The terms of the First Amendment amend the time period in which the financial covenant for the minimum ratio of consolidated EBITDA to consolidated net interest expense applies, such that this EBITDA to interest expense covenant does not apply during any of the four quarters of the Company’s fiscal 2023. During that time period, we are still required to maintain minimum “access to liquidity” of $15 million as mentioned in the above Amended Agreement section. Overall Effective June 24, 2022, interest was charged under the Amended Agreement at a rate (applicable interest rate of 2.88% as of July 31, 2022) calculated using the Applicable Margin over SOFR based on the ratio of the company’s consolidated debt to consolidated EBITDA, as defined in the Amended Agreement. Under the Existing Credit Agreement interest was charged at a rate (applicable interest rate of 1.69% and 2.40% as of August 1, 2021, and May 1, 2022, respectively) as a variable spread over LIBOR based on a ratio of debt to EBITDA, as defined in the Existing Credit Agreement. There were $275,000 of outstanding letters of credit provided by the Amended Agreement and Existing Credit Agreement as of July 31, 2022, August 1, 2021, and May 1, 2022. As of July 31, 2022, we had $725,000 remaining for the issuance of additional letters of credit. There were no borrowings outstanding under either the Amended Agreement or the Existing Credit Agreement, as applicable, as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. Revolving Credit Agreements – China Operations Denominated in Chinese Yuan Renminbi (“RMB”) We have an unsecured credit agreement denominated in RMB with a bank located in China that provides for a line of credit of up to 40 million RMB ($5.9 million USD as of July 31, 2022). Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing and is set to expire on November 15, 2022. There were no borrowings outstanding under this agreement as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. Denominated in United States Dollar (“USD”) We had an unsecured credit agreement denominated in USD with another bank located in China that provided for a line of credit of up to $2 million USD, which expired on August 30, 2022. Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing. Currently, the company does not plan to renew or replace this agreement. There were no borrowings outstanding under this agreement as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. Overall Our loan agreements require, among other things, that we maintain compliance with certain financial covenants. As of July 31, 2022, we complied with our financial covenants. Interest paid during the first quarter of fiscal 2023 totaled $8,000. No interest payments were made during the first quarter of fiscal 2022.

Fair Value

Fair Value	3 Months Ended
	Jul. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value	9. Fair Value ASC Topic 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the company’s assumptions (unobservable inputs). Determining where an asset or liability falls within that hierarchy depends on the lowest level input that is significant to the fair value measurement as a whole. An adjustment to the pricing method used within either level 1 or level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy. The hierarchy consists of three broad levels as follows: Level 1 – Quoted market prices in active markets for identical assets or liabilities. Level 2 – Inputs other than level 1 inputs that are either directly or indirectly observable, and Level 3 – Unobservable inputs developed using the company’s estimates and assumptions, which reflect those that market participants would use. The determination of where an asset or liability falls in the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter based on various factors, and it is possible that an asset or liability may be classified differently from quarter to quarter. However, we expect that changes in classifications between different levels will be rare. Recurring Basis The following tables present information about assets measured at fair value on a recurring basis: Fair value measurements as of July 31, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,853 N/A N/A $ 8,853 Growth Allocation Mutual Funds 464 N/A N/A 464 Moderate Allocation Mutual Fund 82 N/A N/A 82 Other 168 N/A N/A 168 Fair value measurements as of August 1, 2021, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,205 N/A N/A $ 8,205 Bond Mutual Funds 4,656 N/A N/A 4,656 Inflation Protected Bond Mutual Funds 2,979 N/A N/A 2,979 Mortgage Securities Mutual Funds 1,124 N/A N/A 1,124 Large Cap Equity Mutual Funds 708 N/A N/A 708 Growth Allocation Mutual Funds 419 N/A N/A 419 U.S. Event Driven Equity Mutual Fund 194 N/A N/A 194 Moderate Allocation Mutual Fund 91 N/A N/A 91 Other 163 N/A N/A 163 Fair value measurements as of May 1, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,683 N/A N/A $ 8,683 Growth Allocation Mutual Funds 435 N/A N/A 435 Moderate Allocation Mutual Fund 81 N/A N/A 81 Other 158 N/A N/A 158 Short-Term Investments – Available for Sale During the fourth quarter of fiscal 2022, we sold all of our remaining short-term investments classified as available-for-sale, and therefore we did not report short-term investments classified as available-for-sale in the accompanying Consolidated Balance Sheets as of July 31, 2022, and May 1, 2022. As of August 1, 2021, our short-term investments classified as available-for-sale (i) consisted of various types of bond and equity mutual funds, (ii) were recorded at their fair value totaling $9.7 million, (iii) had an unrealized gain of $143,000, (iv) approximated their cost basis, and (v) resided with our U.S. operations. Short-Term and Long-Term Investments - Held-To-Maturity During the fourth quarter of fiscal 2022, we sold all of our remaining investments classified as held-to-maturity, and therefore we did not report short-term or long-term investments classified as held-to-maturity in the accompanying Consolidated Balance Sheets as of July 31, 2022, and May 1, 2022. As of August 1, 2021, our investments classified as held-to-maturity consisted of investment grade U.S. corporate bonds, foreign bonds, and government bonds. These investments were classified as held-to-maturity as we had the positive intent and ability to hold these investments until maturity. Our held-to-maturity investments were recorded as either current or noncurrent in our Consolidated Balance Sheets, based on the maturity date in relation to the respective reporting period and were recorded at amortized cost. As of August 1, 2021, our held-to-maturity investments had an amortized cost and fair value totaling $8.3 million and resided with our U.S. operations. Our held-to-maturity investments were classified as level 2 within the fair value hierarchy as they were traded over the counter within a broker network and not on an active market. The fair values of our held-to-maturity investments were determined based on a published source that provided an average bid price. The average bid price was based on various broker prices that were determined based on market conditions, interest rates, and the rating of the respective bond investment. Long-Term Investments - Rabbi Trust We have a rabbi trust for the participants of our deferred compensation plan (the “Plan”), that enables participants to credit their contributions to various investment options under the Plan. The investments associated with the rabbi trust consist of a U.S. Government money market fund and various equity related mutual funds that are classified as available-for-sale. Our long-term investments associated with our rabbi trust are classified as available-for-sale and recorded at their fair values of $9.6 million, $8.8 million, and $9.4 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. The long-term investments associated with our rabbi trust had an accumulated unrealized gain of $25,000, $151,000, and $32,000, as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively. The fair value of our long-term investments associated with our rabbi trust approximates their cost basis. Other The carrying amount of our cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued expenses approximated their fair value because of the short maturity of these financial instruments.

Net (Loss) Income Per Share

Net (Loss) Income Per Share	3 Months Ended
	Jul. 31, 2022
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	10. Net (Loss) Income Per Share Basic net (loss) income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net (loss) 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 (loss) income per share are as follows: Three months ended (amounts in thousands) July 31, 2022 August 1, 2021 Weighted average common shares outstanding, basic 12,238 12,313 Dilutive effect of stock-based compensation — 102 Weighted average common shares outstanding, diluted 12,238 12,415 During the first quarter of fiscal 2023, 38,779 shares of unvested common stock were not included in the computation of diluted net loss per share as their effect would be antidilutive due to the decrease in the price per share of our common stock during the reporting period compared with the price per share of our common stock as of the respective grant dates of the related stock-based compensation awards. In addition, during the first quarter of fiscal 2023, 42,489 shares of unvested common stock were not included in the computation of diluted net loss per share as we incurred a net loss during the reporting period. During the first quarter of fiscal 2022, all unvested shares of common stock were included in the computation of diluted net income per share.

Segment Information

Segment Information	3 Months Ended
	Jul. 31, 2022
Segment Reporting [Abstract]
Segment Information	11. Segment Information Overall Our operations are classified into two business segments: mattress fabrics and upholstery fabrics. The mattress fabrics segment manufactures, sources, and sells fabrics and mattress covers primarily to bedding manufacturers. The upholstery fabrics segment develops, manufactures, sources, and sells fabrics primarily to residential and commercial furniture manufacturers. In addition, this segment includes Read, which provides window treatments and sourcing of upholstery fabrics and other products, as well as measuring and installation services for Read’s products, to customers in the hospitality and commercial industries. Read also supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Financial Information We evaluate the operating performance of our business segments based upon (loss) income from operations before certain unallocated corporate expenses and other items that are not expected to occur on a regular basis. Cost of sales for each segment includes costs to develop, manufacture, or source our products, including costs such as raw material and finished goods purchases, direct and indirect labor, overhead, and incoming freight charges. Unallocated corporate expenses primarily represent compensation and benefits for certain executives and their support staff, all costs associated with being a public company, amortization of intangible assets, and other miscellaneous expenses. Segment assets include assets used in the operations of each segment and consist of accounts receivable, inventories, property, plant, and equipment, and right of use assets. Intangible assets are not included in segment assets as these assets are not used by the Chief Operating Decision Maker to evaluate the respective segment’s operating performance, allocate resources to individual segments, or determine executive compensation. Statements of operations for our operating segments are as follows: Three months ended July 31, 2022 August 1, 2021 net sales by segment: mattress fabrics $ 29,371 $ 43,058 upholstery fabrics 33,233 39,989 net sales $ 62,604 $ 83,047 gross (loss) profit: mattress fabrics $ (37 ) $ 6,795 upholstery fabrics 4,165 5,704 gross profit $ 4,128 $ 12,499 selling, general, and administrative expenses by segment: mattress fabrics $ 2,885 $ 3,184 upholstery fabrics 3,622 3,437 unallocated corporate expenses 2,359 2,560 selling, general, and administrative expenses $ 8,866 $ 9,181 (loss) income from operations by segment: mattress fabrics $ (2,921 ) $ 3,611 upholstery fabrics 542 2,267 unallocated corporate expenses (2,359 ) (2,560 ) (loss) income from operations (4,738 ) 3,318 interest income 17 74 other expense (82 ) (237 ) (loss) income before income taxes $ (4,803 ) $ 3,155 Balance sheet information for our operating segments follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Segment assets: Mattress Fabrics: Accounts receivable $ 12,382 $ 18,016 $ 9,865 Inventory 36,471 31,778 39,028 Property, plant and equipment (1) 37,354 41,311 38,731 Right of use assets (2) 3,232 4,058 3,469 Total mattress fabrics assets 89,439 95,163 91,093 Upholstery Fabrics: Accounts receivable 12,430 16,992 12,361 Inventory 27,278 26,835 27,529 Property, plant and equipment (3) 2,271 1,650 2,030 Right of use assets (4) 7,520 5,984 8,124 Total upholstery fabrics assets 49,499 51,461 50,044 Total segment assets 138,938 146,624 141,137 Non-segment assets: Cash and cash equivalents 18,874 26,061 14,550 Short-term investments - available for sale — 9,698 — Short-term investments - held-to-maturity — 1,661 — Current income taxes receivable 798 524 857 Other current assets 3,840 3,889 2,986 Deferred income taxes 546 455 528 Property, plant and equipment (5) 865 969 941 Right of use assets (6) 3,804 1,405 3,984 Intangible assets 2,534 2,910 2,628 Long-term investments - rabbi trust 9,567 8,841 9,357 Long-term investments - held-to-maturity — 6,629 — Other assets 724 2,582 595 Total assets $ 180,490 $ 212,248 $ 177,563 Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Capital expenditures (7): Mattress Fabrics $ 197 $ 1,117 Upholstery Fabrics 360 262 Unallocated Corporate 26 274 Total capital expenditures $ 583 $ 1,653 Depreciation expense: Mattress Fabrics $ 1,568 $ 1,521 Upholstery Fabrics 202 205 Total depreciation expense $ 1,770 $ 1,726 (1) The $37.4 million as of July 31, 2022, represents property, plant, and equipment of $24.7 million, $11.9 million, and $718,000 located in the U.S., Canada, and Haiti, respectively. The $41.3 million as of August 1, 2021, represents property, plant, and equipment of $28.0 million, $12.4 million, and $875,000 located in the U.S., Canada, and Haiti, respectively. The $38.7 million as of May 1, 2022, represents property, plant, and equipment of $25.6 million, $12.4 million, and $757,000 located in the U.S., Canada, and Haiti, respectively. (2) The $3.2 million as of July 31, 2022, represents right of use assets of $1.9 million, $1.1 million, and $228,000 located in Haiti, the U.S., and Canada, respectively. The $4.1 million as of August 1, 2021, represents right of use assets of $2.3 million, $1.4 million, and $355,000 located in Haiti, the U.S., and Canada, respectively. The $3.5 million as of May 1, 2022, represents right of use assets of $2.0 million, $1.2 million, and $291,000 located in Haiti, the U.S., and Canada, respectively. (3) The $2.3 million as of July 31, 2022, represents property, plant, and equipment of $1.1 million, $988,000, and $232,000 located in the U.S., Haiti, and China, respectively. The $1.7 million as of August 1, 2021, represents property, plant, and equipment of $1.1 million, $400,000, and $130,000 located in the U.S., China, and Haiti, respectively. The $2.0 million as of May 1, 2022, represents property, plant, and equipment of $1.0 million, $756,000, and $255,000 located in the U.S., Haiti, and China, respectively. (4) The $7.5 million as of July 31, 2022, represents right of use assets of $3.4 million, $2.5 million and $1.6 million located in China, Haiti, and the U.S., respectively. The $6.0 million as of August 1, 2021, represents right of use assets of $4.6 million and $1.4 million located in China and the U.S., respectively. The $8.1 million as of May 1, 2022, represents right of use assets of $3.7 million, $2.6 million, and $1.8 million located in China, Haiti, and the U.S., respectively. (5) The $865,000, $969,000, and $941,000 as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. (6) The $3.8 million, $1.4 million, and $4.0 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent right of use assets located in the U.S. (7) Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Effective Income Tax Rate We recorded income tax expense of $896,000, or (18.7%) of loss before income taxes, for the three-month period ending July 31, 2022, compared with income tax expense of $905,000, or 28.7% of income before income taxes, for the three-month period ending August 1, 2021. Our effective income tax rates for the three-month periods ended July 31, 2022, and August 1, 2021, were based upon the estimated effective income tax rate applicable for the full year after giving effect to any significant items related specifically to interim periods. When calculating the annual estimated effective income tax rate for the three-month periods ended July 31, 2022, and August 1, 2021, we were subject to loss limitation rules. These loss limitation rules require any taxable loss associated with our U.S. or foreign operations to be excluded from the annual estimated effective income tax rate calculation if it was determined that no income tax benefit could be recognized during the current fiscal year. The effective income tax rate can be affected over the fiscal year by the mix and timing of actual earnings from our U.S. operations and foreign subsidiaries located in China, Canada, and Haiti versus annual projections, as well as changes in foreign currency exchange rates in relation to the U.S. dollar. The following schedule summarizes the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements for the three-month periods ending July 31, 2022, and August 1, 2021: July 31, August 1, 2022 2021 U.S. federal income tax rate 21.0 % 21.0 % U.S. valuation allowance (35.4 ) (3.9 ) Withholding taxes associated with foreign jurisdictions (5.0 ) 4.7 Foreign income tax rate differential 2.7 2.8 Stock-based compensation (2.1 ) 0.2 Global Intangible Low Taxed Income Tax ("GILTI") — 3.4 Other 0.1 0.5 (18.7%) 28.7 % Our consolidated effective income tax rate during the first quarter of fiscal 2023 was much more negatively affected by the mix of earnings between our U.S. operations and our foreign subsidiaries, in comparison with the first quarter of fiscal 2022. During the first quarter of fiscal 2023, we incurred a significant pre-tax loss from our U.S. operations, and therefore, a significant income tax benefit was not recognized due to a full valuation allowance being applied against our U.S. net deferred income tax assets. In addition, all of our taxable income in the first quarter of fiscal 2023 was earned by our foreign operations located in China and Canada, which have higher income tax rates than the U.S. In comparison, our U.S. operations earned a level of pre-tax income during the first quarter of fiscal 2022 that did not have a significant effect on our full valuation allowance or our consolidated effective income tax rate. U.S. Valuation Allowance We evaluate the realizability of our U.S. net deferred income tax assets to determine if a valuation allowance is required. We assess whether a valuation allowance should be established based on the consideration of all available evidence using a “more-likely-than-not” standard, with significant weight being given to evidence that can be objectively verified. Since the company operates in multiple jurisdictions, we assess the need for a valuation allowance on a jurisdiction-by-jurisdiction basis, considering the effects of local tax law. As of July 31, 2022, we evaluated the realizability of our U.S. net deferred income tax assets to determine if a full valuation allowance was required. Based on our assessment, we determined we still have a recent history of significant cumulative U.S. taxable losses, in that we experienced U.S. taxable losses during each of the last three fiscal years from 2020 through 2022, and we are currently expecting significant U.S. pre-tax losses to continue during fiscal 2023. As a result of the significant weight of this negative evidence, we believe it is more likely than not that our U.S. deferred income tax assets will not be fully realizable, and therefore we provided for a full valuation allowance against our U.S. net deferred income tax assets. Based on our assessments as of July 31, 2022, August 1, 2021, and May 1, 2022, valuation allowances against our net deferred income tax assets pertain to the following: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 U.S. federal and state net deferred income tax assets $ 11,006 9,221 9,527 U.S. capital loss carryforward 2,330 2,330 2,330 $ 13,336 11,551 11,857 Undistributed Earnings We assess whether the undistributed earnings from our foreign subsidiaries will be reinvested indefinitely or eventually distributed to our U.S. parent company and whether we are required to record a deferred income tax liability for those undistributed earnings from foreign subsidiaries that will not be reinvested indefinitely. As of July 31, 2022, we assessed the liquidity requirements of our U.S. parent company and determined that our undistributed earnings and profits from our foreign subsidiaries would not be reinvested indefinitely and would eventually be distributed to our U.S. parent company. The conclusion reached from this assessment was consistent with prior reporting periods. As a result of the 2017 Tax Cuts and Jobs Act, a U.S. corporation is allowed a 100% dividend received deduction for earnings and profits received from a 10% owned foreign corporation. Therefore, a deferred income tax liability will be required only for unremitted withholding taxes associated with earnings and profits generated by our foreign subsidiaries that will ultimately be repatriated to the U.S. parent company. As a result, as of July 31, 2022, August 1, 2021, and May 1, 2022, we recorded a deferred income tax liability of $3.8 million, $3.2 million, and $3.5 million, respectively. Uncertain Income Tax Positions An unrecognized income tax benefit for an uncertain income tax position can be recognized in the first interim period if the more-likely-than-not recognition threshold is met by the end of the reporting period, or is effectively settled through examination, or negotiation, or litigation, or the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired. If it is determined that any of the above conditions occur regarding our uncertain income tax positions, an adjustment to our unrecognized income tax benefit will be recorded at that time. As of July 31, 2022, and May 1, 2022, we had a $1.1 million total gross unrecognized income tax benefit, of which the entire amount was classified as income taxes payable – long-term in the accompanying Consolidated Balance Sheets. As of August 1, 2021, we had a $1.4 million total gross unrecognized income tax benefit, of which $1.1 million and $380,000 were recorded to income taxes payable – long-term and noncurrent deferred income taxes, respectively in the accompanying Consolidated Balance Sheets. As of July 31, 2022, and May 1, 2022, we had a $1.1 million total gross unrecognized income tax benefit, of which the entire $1.1 million would favorably affect the income tax rate in future periods. As of August 1, 2021, we had a $1.4 million total gross unrecognized income tax benefit, of which $1.1 million would favorably affect the income tax rate in future periods. Our gross unrecognized income tax benefit of $1.1 million as of July 31, 2022, relates to income tax positions for which significant change is currently not expected within the next year. This amount primarily relates to double taxation under applicable income tax treaties with foreign tax jurisdictions. Income Taxes Paid The following table sets forth taxes paid by jurisdiction: Three Months Ended July 31, August 1, (dollars in thousands) 2022 2021 China - Income Taxes $ 548 $ 921 China - Withholding Taxes Associated With Earnings and Profits Distributed to the U.S. — 487 Canada - Income Taxes 82 280 $ 630 $ 1,688

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jul. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	13. Stock-Based Compensation Equity Incentive Plan Description On September 16, 2015, our shareholders approved an equity incentive plan titled the Culp, Inc. 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan authorizes the grant of stock options intended to qualify as incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based units, and other equity and cash related awards as determined by our Compensation Committee. An aggregate of 1,200,000 shares of common stock were authorized for issuance under the 2015 Plan, with certain sub-limits that would apply with respect to specific types of awards that may be issued as defined in the 2015 Plan. As of July 31, 2022, there were 558,375 shares available for future equity-based grants under the 2015 Plan. Performance-Based Restricted Stock Units Senior Executives We grant performance-based restricted stock units to senior executives which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit award agreements. The number of shares of common stock that are earned based on performance targets that have been achieved may be adjusted based on a market-based total shareholder return component as defined in the related restricted stock unit award agreements. Our performance-based restricted stock units granted to senior executives were measured based on their fair market value on the date of grant. The fair market value per share was determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock for the performance-based component. The following table provides assumptions used to determine the fair market value of the market-based total shareholder return component using the Monte Carlo simulation model on our outstanding performance-based restricted stock units granted to senior executives on July 22, 2021: July 22, 2021 Closing price of our common stock $ 14.75 Expected volatility of our common stock 54.2 % Expected volatility of peer companies (1) 45.7% - 101.5% Risk-free interest rate 0.33 % Dividend yield 3.00 % Correlation coefficient of peer companies (1) 0.03 - 0.35 (1) The expected volatility and correlation coefficient of our peer companies for the July 22, 2021, grant date was based on peer companies that were approved by the Compensation Committee of our board of directors as an aggregate benchmark for determining the market-based total shareholder return component. Therefore, we disclosed ranges of the expected volatility and correlation coefficient for the companies that represented this peer group. Key Employees We grant performance-based restricted stock units to key employees which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit award agreements. Our performance-based restricted stock units granted to key employees were measured based on the fair market value (the closing price of our common stock) on the date of grant. No market-based total shareholder return component was included in these awards. Overall No performance-based restricted stock units were granted during the first quarter of fiscal 2023. The following table summarizes information related to our grants of performance-based restricted stock units associated with senior executives and key employees that were unvested as of July 31, 2022: (3) (4) Performance-Based Restricted Stock Restricted Stock Units Expected Date of Grant Units Awarded to Vest Price Per Share Vesting Period July 22, 2021 (1) 122,476 — $ 15.93 (5) 3 years July 22, 2021 (2) 20,500 — $ 14.75 (6) 3 years (1) Performance-based restricted stock units awarded to senior executives. (2) Performance-based restricted stock units awarded to key employees. (3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. (4) Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance goals will be met and how many shares are expected to be earned as of the end of the vesting period. These amounts represent the number of shares that were expected to vest as of July 31, 2022. (5) Price per share represents the fair market value per share ($1.08 per $1, or an increase of $1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($14.75) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. (6) Price per share represents the closing price of our common stock on the date of grant. The following table summarizes information related to our performance-based restricted stock units that vested during the three-month periods ending July 31, 2022, and August 1, 2021: Performance-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 545 $ 3 $ 5.10 Fiscal 2023 (2) 437 $ 2 $ 5.10 Fiscal 2022 (1) 5,051 $ 87 $ 17.14 Fiscal 2022 (2) 5,812 $ 100 $ 17.14 (1) Performance-based restricted stock units vested by senior executives. (2) Performance-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested. We recorded compensation expense of $2,000 and $20,000 within selling, general, and administrative expenses for the three-month periods ending July 31, 2022, and August 1, 2021, respectively. Compensation expense is recorded based on an assessment each reporting period to determine the probability of whether or not certain performance targets will be met and how many shares are expected to be earned as of the end of the vesting period. If certain performance goals are not expected to be achieved, compensation expense would not be recorded, and any previously recognized compensation expense would be reversed. Time-Based Restricted Stock Units No time-based restricted stock units were granted during the first quarter of fiscal 2023. The following table summarizes information Time-Based Restricted Stock (1) Date of Grant Units Awarded Price Per Share Vesting Period July 22, 2021 37,591 $ 14.75 3 years August 6, 2020 129,095 $ 11.01 3 years August 2, 2018 10,000 $ 24.35 5 years (1) Price per share represents closing price of common stock on the date the respective award was granted. The following table summarizes information related to our time-based restricted stock units that vested during the three-month periods ending July 31, 2022: Time-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 19,786 $ 101 $ 5.10 Fiscal 2023 (2) 13,013 $ 66 $ 5.10 (1) Time-based restricted stock units vested by senior executives. (2) Time-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested. Overall We recorded compensation expense of $166,000 and $184,000 within selling, general, and administrative expenses associated with our time-based restricted stock unit awards for the three-month periods ending July 31, 2022, and August 1, 2021, respectively. As of July 31, 2022, the remaining unrecognized compensation expense related to our time-based restricted stock units was $895,000, which is expected to be recognized over a weighted average vesting period of 1.4 years. As of July 31, 2022, the time-based restricted stock units that are expected to vest had a fair value totaling $887,000. Common Stock Awards We granted a total of 19,753 shares of common stock to our outside directors on July 1, 2022. These shares of common stock vested immediately and were measured at their fair value on the date of grant. The fair value of these awards was $4.24 per share on July 1, 2022, which represents the closing price of our common stock on the date of grant. We granted a total of 4,312 shares of common stock to our outside directors on July 1, 2021. These shares of common stock vested immediately and were measured at their fair value on the date of grant. The fair value of these awards was $16.24 per share on July 1, 2021, which represents the closing price of our common stock on the date of grant. We recorded $84,000 and $70,000 of compensation expense within selling, general, and administrative expenses for common stock awards to our outside directors for each of the three-month periods ending July 31, 2022, and August 1, 2021, respectively.

Leases

Leases	3 Months Ended
	Jul. 31, 2022
Assets And Liabilities Lessee [Abstract]
Leases	14. Leases Overview We lease manufacturing facilities, showroom and office space, distribution centers, and equipment under operating lease arrangements. Our operating leases have remaining lease terms of one to nine years, with renewal options for additional periods ranging up to twelve years. Balance Sheet The right of use assets and lease liabilities associated with our operating leases as of July 31, 2022, August 1, 2021, and May 1, 2022, are as follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Right of use assets $ 14,556 $ 11,447 $ 15,577 Operating lease liability - current 3,126 2,727 3,219 Operating lease liability – noncurrent 6,160 6,665 7,062 Supplemental Cash Flow Information Three Months Ended Three Months Ended (dollars in thousands) July 31, 2022 August 1, 2021 Operating lease liability payments $ 920 $ 717 Right of use assets exchanged for lease liabilities — 547 Operating lease expense for the three-month periods ended July 31, 2022, and August 1, 2021, was $1.1 million and $876,000, respectively. Short-term lease and variable lease expenses were immaterial for the three-month periods ended July 31, 2022, and August 1, 2021. Other Information Maturity of our operating lease liabilities for the remainder of fiscal 2023, the subsequent next four fiscal years, and thereafter follows: (dollars in thousands) 2023 $ 2,376 2024 2,956 2025 1,925 2026 493 2027 457 Thereafter 1,410 $ 9,617 Less: interest (331 ) Present value of lease liabilities $ 9,286 As of July 31, 2022, the weighted average remaining lease term and discount rate for our operating leases follows: July 31, 2022 Weighted average lease term 4.4 years Weighted average discount rate 1.76 %

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2022
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. Accounts Payable – Capital Expenditures As of July 31, 2022, August 1, 2021, and May 1, 2022, we had total amounts due regarding capital expenditures totaling $346,000, $48,000, and $473,000, respectively, which pertained to outstanding vendor invoices, none of which were financed. Purchase Commitments – Capital Expenditures As of July 31, 2022, we had open purchase commitments to acquire equipment for our mattress fabrics segment totaling $240,000.

Statutory Reserves

Statutory Reserves	3 Months Ended
	Jul. 31, 2022
Text Block [Abstract]
Statutory Reserves	16. Statutory Reserves Our subsidiary located in China was required to transfer 10% of its net income, as determined in accordance with the People’s Republic of China (PRC) accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reached 50% of the company’s registered capital. As of July 31, 2022, the statutory surplus reserve fund represents the 50% registered capital requirement, and therefore, our subsidiary located in China is no longer required to transfer 10% of its net income in accordance with PRC accounting rules and regulations. The transfer to this reserve must be made before distributions of any dividend to shareholders. As of July 31, 2022, the company’s statutory surplus reserve was $4.3 million. The statutory surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any. The statutory surplus reserve fund may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them provided that the remaining reserve balance after such issue is not less than 25% of the registered capital. The company’s subsidiary located in China can transfer funds to the parent company, except for the statutory surplus reserve of $4.3 million, to assist with debt repayment, capital expenditures, and other expenses of the company’s business.

Common Stock Repurchase Program

Common Stock Repurchase Program	3 Months Ended
	Jul. 31, 2022
Text Block [Abstract]
Common Stock Repurchase Program	17. Common Stock Repurchase Program In March 2020, our board of directors approved an authorization for us to acquire up to $5.0 million of our common stock. Under the common stock repurchase program, shares may be purchased from time to time in open market transactions, block trades, through plans established under the Securities Exchange Act Rule 10b5-1, or otherwise. The number of shares purchased and the timing of such purchases will be based on working capital requirements, market and general business conditions, and other factors, including alternative investment opportunities. During the first quarter of fiscal 2023, we did not repurchase any shares of our common stock. During the first quarter of fiscal 2022, we repurchased 48,686 shares of our common stock at a cost of $723,000. As of July 31, 2022, we had $3.2 million available for additional repurchases of our common stock.

Dividend Program

Dividend Program	3 Months Ended
	Jul. 31, 2022
Text Block [Abstract]
Dividend Program	18. Dividend Program On June 29, 2022, our board of directors announced the decision to suspend the company’s quarterly cash dividend. Considering the current and expected macroeconomic conditions, we believe that preserving capital and managing our liquidity is in the company’s best interest to support future growth and the long-term interests of our shareholders. Accordingly, we did not make any dividend payments during first quarter of fiscal 2023. During the first quarter of fiscal 2022, dividend payments totaled $1.4 million, which represented a quarterly dividend payment of $0.11 per share.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements There were not any recently adopted accounting pronouncements during the first quarter of fiscal 2023. Recently Issued Accounting Pronouncements Currently, there are no new recent accounting pronouncements that are expected to have a material effect on our consolidated financial statements.

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Tables)	3 Months Ended
	Jul. 31, 2022
Receivables [Abstract]
Summary of the Activity in the Allowance for Doubtful Accounts	A summary of the activity in the allowance for doubtful accounts follows: Three Months Ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 292 $ 591 Provision for bad debts 57 (11 ) Ending balance $ 349 $ 580

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Jul. 31, 2022
Revenue From Contract With Customer [Abstract]
Summary of Activity Associated with Deferred Revenue	A summary of the activity associated with deferred revenue follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 520 $ 540 Revenue recognized on contract liabilities (821 ) (611 ) Payments received for services not yet rendered 1,669 765 Ending balance $ 1,368 $ 694
Summary of Disaggregation of Revenue	The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending July 31, 2022: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 29,371 $ 31,523 $ 60,894 Services transferred over time — 1,710 1,710 Total Net Sales $ 29,371 $ 33,233 $ 62,604 The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending August 1, 2021: Mattress Upholstery (dollars in thousands) Fabrics Fabrics Total Products transferred at a point in time $ 43,058 $ 38,290 $ 81,348 Services transferred over time — 1,699 1,699 Total Net Sales $ 43,058 $ 39,989 $ 83,047

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jul. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	A summary of inventories follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Raw materials $ 12,690 $ 9,443 $ 13,477 Work-in-process 4,985 3,637 4,237 Finished goods 46,074 45,533 48,843 $ 63,749 $ 58,613 $ 66,557

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jul. 31, 2022
Summary of Intangible Assets	A summary of intangible assets follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Tradename $ 540 $ 540 $ 540 Customer relationships, net 1,561 1,862 1,636 Non-compete agreement, net 433 508 452 $ 2,534 $ 2,910 $ 2,628
Customer Relationships [Member]
Summary of Change in Carrying Amount of Finite-Lived Intangible Assets	A summary of the change in the carrying amount of our customer relationships follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 1,636 $ 1,937 Amortization expense (75 ) (75 ) Ending balance $ 1,561 $ 1,862
Non-Compete Agreement [Member]
Summary of Change in Carrying Amount of Finite-Lived Intangible Assets	A summary of the change in the carrying amount of our non-compete agreement follows: Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Beginning balance $ 452 $ 527 Amortization expense (19 ) (19 ) Ending balance $ 433 $ 508

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Jul. 31, 2022
Text Block [Abstract]
Summary of Accrued Expenses	A summary of accrued expenses follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Compensation, commissions and related benefits $ 3,890 $ 5,006 $ 4,248 Other accrued expenses 3,268 4,944 3,584 $ 7,158 $ 9,950 $ 7,832

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Jul. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	The following tables present information about assets measured at fair value on a recurring basis: Fair value measurements as of July 31, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,853 N/A N/A $ 8,853 Growth Allocation Mutual Funds 464 N/A N/A 464 Moderate Allocation Mutual Fund 82 N/A N/A 82 Other 168 N/A N/A 168 Fair value measurements as of August 1, 2021, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,205 N/A N/A $ 8,205 Bond Mutual Funds 4,656 N/A N/A 4,656 Inflation Protected Bond Mutual Funds 2,979 N/A N/A 2,979 Mortgage Securities Mutual Funds 1,124 N/A N/A 1,124 Large Cap Equity Mutual Funds 708 N/A N/A 708 Growth Allocation Mutual Funds 419 N/A N/A 419 U.S. Event Driven Equity Mutual Fund 194 N/A N/A 194 Moderate Allocation Mutual Fund 91 N/A N/A 91 Other 163 N/A N/A 163 Fair value measurements as of May 1, 2022, using: Quoted prices Significant in active other Significant markets for observable unobservable identical assets inputs inputs (amounts in thousands) Level 1 Level 2 Level 3 Total Assets: U.S. Government Money Market Fund $ 8,683 N/A N/A $ 8,683 Growth Allocation Mutual Funds 435 N/A N/A 435 Moderate Allocation Mutual Fund 81 N/A N/A 81 Other 158 N/A N/A 158

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	3 Months Ended
	Jul. 31, 2022
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Used in the Computation of Basic and Diluted Net (Loss) Income Per Share	Weighted average shares used in the computation of basic and diluted net (loss) income per share are as follows: Three months ended (amounts in thousands) July 31, 2022 August 1, 2021 Weighted average common shares outstanding, basic 12,238 12,313 Dilutive effect of stock-based compensation — 102 Weighted average common shares outstanding, diluted 12,238 12,415

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jul. 31, 2022
Segment Reporting [Abstract]
Schedule of Operating Segments Information	Statements of operations for our operating segments are as follows: Three months ended July 31, 2022 August 1, 2021 net sales by segment: mattress fabrics $ 29,371 $ 43,058 upholstery fabrics 33,233 39,989 net sales $ 62,604 $ 83,047 gross (loss) profit: mattress fabrics $ (37 ) $ 6,795 upholstery fabrics 4,165 5,704 gross profit $ 4,128 $ 12,499 selling, general, and administrative expenses by segment: mattress fabrics $ 2,885 $ 3,184 upholstery fabrics 3,622 3,437 unallocated corporate expenses 2,359 2,560 selling, general, and administrative expenses $ 8,866 $ 9,181 (loss) income from operations by segment: mattress fabrics $ (2,921 ) $ 3,611 upholstery fabrics 542 2,267 unallocated corporate expenses (2,359 ) (2,560 ) (loss) income from operations (4,738 ) 3,318 interest income 17 74 other expense (82 ) (237 ) (loss) income before income taxes $ (4,803 ) $ 3,155 Balance sheet information for our operating segments follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Segment assets: Mattress Fabrics: Accounts receivable $ 12,382 $ 18,016 $ 9,865 Inventory 36,471 31,778 39,028 Property, plant and equipment (1) 37,354 41,311 38,731 Right of use assets (2) 3,232 4,058 3,469 Total mattress fabrics assets 89,439 95,163 91,093 Upholstery Fabrics: Accounts receivable 12,430 16,992 12,361 Inventory 27,278 26,835 27,529 Property, plant and equipment (3) 2,271 1,650 2,030 Right of use assets (4) 7,520 5,984 8,124 Total upholstery fabrics assets 49,499 51,461 50,044 Total segment assets 138,938 146,624 141,137 Non-segment assets: Cash and cash equivalents 18,874 26,061 14,550 Short-term investments - available for sale — 9,698 — Short-term investments - held-to-maturity — 1,661 — Current income taxes receivable 798 524 857 Other current assets 3,840 3,889 2,986 Deferred income taxes 546 455 528 Property, plant and equipment (5) 865 969 941 Right of use assets (6) 3,804 1,405 3,984 Intangible assets 2,534 2,910 2,628 Long-term investments - rabbi trust 9,567 8,841 9,357 Long-term investments - held-to-maturity — 6,629 — Other assets 724 2,582 595 Total assets $ 180,490 $ 212,248 $ 177,563 Three months ended (dollars in thousands) July 31, 2022 August 1, 2021 Capital expenditures (7): Mattress Fabrics $ 197 $ 1,117 Upholstery Fabrics 360 262 Unallocated Corporate 26 274 Total capital expenditures $ 583 $ 1,653 Depreciation expense: Mattress Fabrics $ 1,568 $ 1,521 Upholstery Fabrics 202 205 Total depreciation expense $ 1,770 $ 1,726 (1) The $37.4 million as of July 31, 2022, represents property, plant, and equipment of $24.7 million, $11.9 million, and $718,000 located in the U.S., Canada, and Haiti, respectively. The $41.3 million as of August 1, 2021, represents property, plant, and equipment of $28.0 million, $12.4 million, and $875,000 located in the U.S., Canada, and Haiti, respectively. The $38.7 million as of May 1, 2022, represents property, plant, and equipment of $25.6 million, $12.4 million, and $757,000 located in the U.S., Canada, and Haiti, respectively. (2) The $3.2 million as of July 31, 2022, represents right of use assets of $1.9 million, $1.1 million, and $228,000 located in Haiti, the U.S., and Canada, respectively. The $4.1 million as of August 1, 2021, represents right of use assets of $2.3 million, $1.4 million, and $355,000 located in Haiti, the U.S., and Canada, respectively. The $3.5 million as of May 1, 2022, represents right of use assets of $2.0 million, $1.2 million, and $291,000 located in Haiti, the U.S., and Canada, respectively. (3) The $2.3 million as of July 31, 2022, represents property, plant, and equipment of $1.1 million, $988,000, and $232,000 located in the U.S., Haiti, and China, respectively. The $1.7 million as of August 1, 2021, represents property, plant, and equipment of $1.1 million, $400,000, and $130,000 located in the U.S., China, and Haiti, respectively. The $2.0 million as of May 1, 2022, represents property, plant, and equipment of $1.0 million, $756,000, and $255,000 located in the U.S., Haiti, and China, respectively. (4) The $7.5 million as of July 31, 2022, represents right of use assets of $3.4 million, $2.5 million and $1.6 million located in China, Haiti, and the U.S., respectively. The $6.0 million as of August 1, 2021, represents right of use assets of $4.6 million and $1.4 million located in China and the U.S., respectively. The $8.1 million as of May 1, 2022, represents right of use assets of $3.7 million, $2.6 million, and $1.8 million located in China, Haiti, and the U.S., respectively. (5) The $865,000, $969,000, and $941,000 as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S. (6) The $3.8 million, $1.4 million, and $4.0 million as of July 31, 2022, August 1, 2021, and May 1, 2022, respectively, represent right of use assets located in the U.S. (7) Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Summary of Differences in Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate	The following schedule summarizes the principal differences between income tax expense at the U.S. federal income tax rate and the effective income tax rate reflected in the consolidated financial statements for the three-month periods ending July 31, 2022, and August 1, 2021: July 31, August 1, 2022 2021 U.S. federal income tax rate 21.0 % 21.0 % U.S. valuation allowance (35.4 ) (3.9 ) Withholding taxes associated with foreign jurisdictions (5.0 ) 4.7 Foreign income tax rate differential 2.7 2.8 Stock-based compensation (2.1 ) 0.2 Global Intangible Low Taxed Income Tax ("GILTI") — 3.4 Other 0.1 0.5 (18.7%) 28.7 %
Summary of Valuation Allowances Against Net Deferred Income Tax Assets	Based on our assessments as of July 31, 2022, August 1, 2021, and May 1, 2022, valuation allowances against our net deferred income tax assets pertain to the following: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 U.S. federal and state net deferred income tax assets $ 11,006 9,221 9,527 U.S. capital loss carryforward 2,330 2,330 2,330 $ 13,336 11,551 11,857
Summary of Taxes Paid	The following table sets forth taxes paid by jurisdiction: Three Months Ended July 31, August 1, (dollars in thousands) 2022 2021 China - Income Taxes $ 548 $ 921 China - Withholding Taxes Associated With Earnings and Profits Distributed to the U.S. — 487 Canada - Income Taxes 82 280 $ 630 $ 1,688

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jul. 31, 2022
Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units	The following table provides assumptions used to determine the fair market value of the market-based total shareholder return component using the Monte Carlo simulation model on our outstanding performance-based restricted stock units granted to senior executives on July 22, 2021: July 22, 2021 Closing price of our common stock $ 14.75 Expected volatility of our common stock 54.2 % Expected volatility of peer companies (1) 45.7% - 101.5% Risk-free interest rate 0.33 % Dividend yield 3.00 % Correlation coefficient of peer companies (1) 0.03 - 0.35 (1) The expected volatility and correlation coefficient of our peer companies for the July 22, 2021, grant date was based on peer companies that were approved by the Compensation Committee of our board of directors as an aggregate benchmark for determining the market-based total shareholder return component. Therefore, we disclosed ranges of the expected volatility and correlation coefficient for the companies that represented this peer group.
Performance Based Restricted Stock Units [Member]
Summary of Vested Restricted Stock Units	The following table summarizes information related to our performance-based restricted stock units that vested during the three-month periods ending July 31, 2022, and August 1, 2021: Performance-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 545 $ 3 $ 5.10 Fiscal 2023 (2) 437 $ 2 $ 5.10 Fiscal 2022 (1) 5,051 $ 87 $ 17.14 Fiscal 2022 (2) 5,812 $ 100 $ 17.14 (1) Performance-based restricted stock units vested by senior executives. (2) Performance-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested.
Time-Based Restricted Stock Units [Member]
Summary of Vested Restricted Stock Units	The following table summarizes information related to our time-based restricted stock units that vested during the three-month periods ending July 31, 2022: Time-Based (4) Restricted Stock (3) Price Fiscal Year Units Vested Fair Value Per Share Fiscal 2023 (1) 19,786 $ 101 $ 5.10 Fiscal 2023 (2) 13,013 $ 66 $ 5.10 (1) Time-based restricted stock units vested by senior executives. (2) Time-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested.
Executive officers and key employees [Member]
Summary of Grants of Performance Based Restricted Stock Units	The following table summarizes information related to our grants of performance-based restricted stock units associated with senior executives and key employees that were unvested as of July 31, 2022: (3) (4) Performance-Based Restricted Stock Restricted Stock Units Expected Date of Grant Units Awarded to Vest Price Per Share Vesting Period July 22, 2021 (1) 122,476 — $ 15.93 (5) 3 years July 22, 2021 (2) 20,500 — $ 14.75 (6) 3 years (1) Performance-based restricted stock units awarded to senior executives. (2) Performance-based restricted stock units awarded to key employees. (3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. (4) Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance goals will be met and how many shares are expected to be earned as of the end of the vesting period. These amounts represent the number of shares that were expected to vest as of July 31, 2022. (5) Price per share represents the fair market value per share ($1.08 per $1, or an increase of $1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($14.75) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. (6) Price per share represents the closing price of our common stock on the date of grant.
Senior Executives and Management [Member] | Time-Based Restricted Stock Units [Member]
Summary of Grants of Time-Based Restricted Stock Unit Awards	The following table summarizes information Time-Based Restricted Stock (1) Date of Grant Units Awarded Price Per Share Vesting Period July 22, 2021 37,591 $ 14.75 3 years August 6, 2020 129,095 $ 11.01 3 years August 2, 2018 10,000 $ 24.35 5 years (1) Price per share represents closing price of common stock on the date the respective award was granted.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2022
Assets And Liabilities Lessee [Abstract]
Summary of right of use assets and lease liabilities	The right of use assets and lease liabilities associated with our operating leases as of July 31, 2022, August 1, 2021, and May 1, 2022, are as follows: (dollars in thousands) July 31, 2022 August 1, 2021 May 1, 2022 Right of use assets $ 14,556 $ 11,447 $ 15,577 Operating lease liability - current 3,126 2,727 3,219 Operating lease liability – noncurrent 6,160 6,665 7,062
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Months Ended Three Months Ended (dollars in thousands) July 31, 2022 August 1, 2021 Operating lease liability payments $ 920 $ 717 Right of use assets exchanged for lease liabilities — 547
Leases-Other Information	Other Information Maturity of our operating lease liabilities for the remainder of fiscal 2023, the subsequent next four fiscal years, and thereafter follows: (dollars in thousands) 2023 $ 2,376 2024 2,956 2025 1,925 2026 493 2027 457 Thereafter 1,410 $ 9,617 Less: interest (331 ) Present value of lease liabilities $ 9,286
Summary of weighted average remaining lease term and discount rate	As of July 31, 2022, the weighted average remaining lease term and discount rate for our operating leases follows: July 31, 2022 Weighted average lease term 4.4 years Weighted average discount rate 1.76 %

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts - Summary of the Activity in the Allowance for Doubtful Accounts (Detail) - Allowance for doubtful accounts [Member] - USD ($)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 292,000	$ 591,000
Provision for bad debts	57,000	(11,000)
Ending balance	$ 349,000	$ 580,000

Allowance for Doubtful Accoun_4

Allowance for Doubtful Accounts - Narrative (Detail) - USD ($)	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021	May 02, 2021
Allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowance for doubtful accounts	$ 349,000	$ 292,000	$ 580,000	$ 591,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Detail)	3 Months Ended
	Jul. 31, 2022 USD ($) Segment	May 01, 2022 USD ($)	Aug. 01, 2021 USD ($)
Contract Assets and Liabilities [Line Items]
Number of operating segments | Segment	2
Contract assets recognized | $	$ 0	$ 0	$ 0
Minimum [Member]
Contract Assets and Liabilities [Line Items]
Contract with customers credit period	15 days
Maximum [Member]
Contract Assets and Liabilities [Line Items]
Contract with customers credit period	60 days

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of the activity associated with deferred revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022		Aug. 01, 2021
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 520	[1]	$ 540
Revenue recognized on contract liabilities	(821)		(611)
Payments received for services not yet rendered	1,669		765
Ending balance	$ 1,368		$ 694
[1]Derived from audited financial statements.

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 62,604	$ 83,047
Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	60,894	81,348
Transferred over Time [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	1,710	1,699
Mattress Fabrics [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	29,371	43,058
Mattress Fabrics [Member] | Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	29,371	43,058
Upholstery Fabrics [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	33,233	39,989
Upholstery Fabrics [Member] | Transferred at Point in Time [Member] | Product [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	31,523	38,290
Upholstery Fabrics [Member] | Transferred over Time [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 1,710	$ 1,699

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022		Aug. 01, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 12,690	$ 13,477		$ 9,443
Work-in-process	4,985	4,237		3,637
Finished goods	46,074	48,843		45,533
Inventories	$ 63,749	$ 66,557	[1]	$ 58,613
[1]Derived from audited financial statements.

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022		Aug. 01, 2021	May 02, 2021
Intangible Assets [Line Items]
Tradename	$ 540	$ 540		$ 540
Intangible assets	2,534	2,628	[1]	2,910
Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	1,561	1,636		1,862	$ 1,937
Non-Compete Agreement [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 433	$ 452		$ 508	$ 527
[1]Derived from audited financial statements.

Intangible Assets - Narrative (

Intangible Assets - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
Intangible Assets [Line Items]
Asset impairment charges	$ 0
Gross carrying amount of customer relationships	3,100,000	$ 3,100,000	$ 3,100,000
Gross carrying amount of non-compete agreement	2,000,000	2,000,000	2,000,000
Customer Relationships [Member]
Intangible Assets [Line Items]
Accumulated amortization	1,600,000	1,500,000	1,300,000
Remaining amortization expense for the fiscal year	226,000
Remaining amortization expense for the first fiscal year	301,000
Remaining amortization expense for the second fiscal year	301,000
Remaining amortization expense for the third fiscal year	301,000
Remaining amortization expense for the fourth fiscal year	278,000
Remaining amortization expense for the fiscal year thereafter	$ 154,000
Weighted average remaining amortization period	5 years 6 months
Customer Relationships [Member] | Minimum [Member]
Intangible Assets [Line Items]
Useful life	9 years
Customer Relationships [Member] | Maximum [Member]
Intangible Assets [Line Items]
Useful life	17 years
Non-Compete Agreement [Member]
Intangible Assets [Line Items]
Useful life	15 years
Accumulated amortization	$ 1,600,000	$ 1,600,000	$ 1,600,000
Remaining amortization expense for the fiscal year	56,000
Remaining amortization expense for the first fiscal year	76,000
Remaining amortization expense for the second fiscal year	76,000
Remaining amortization expense for the third fiscal year	76,000
Remaining amortization expense for the fourth fiscal year	76,000
Remaining amortization expense for the fiscal year thereafter	$ 73,000
Weighted average remaining amortization period	5 years 9 months 18 days

Intangible Assets - Summary o_2

Intangible Assets - Summary of Change in Carrying Amount of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Beginning balance	$ 1,636	$ 1,937
Amortization expense	(75)	(75)
Ending balance	1,561	1,862
Non-Compete Agreement [Member]
Finite Lived Intangible Assets [Line Items]
Beginning balance	452	527
Amortization expense	(19)	(19)
Ending balance	$ 433	$ 508

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
Payables And Accruals [Abstract]
Compensation, commissions and related benefits	$ 3,890	$ 4,248	$ 5,006
Other accrued expenses	3,268	3,584	4,944
Accrued expenses	$ 7,158	$ 7,832	$ 9,950

Lines of Credit - Narrative (De

Lines of Credit - Narrative (Detail)			3 Months Ended		12 Months Ended
	Aug. 19, 2022 USD ($)	Jun. 24, 2022 USD ($)	Jul. 31, 2022 USD ($)	Aug. 01, 2021 USD ($)	May 01, 2022 USD ($)	Jul. 31, 2022 CNY (¥)
Revolving Credit Facility [Member] | United States [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity		$ 40,000,000			$ 30,000,000
Expiration date					Aug. 15, 2022
Maximum amount of letters of credit		$ 1,000,000			$ 1,000,000
Expiration month year		2025-06
Minimum tangible net worth		$ 100,000,000
Percentage of minimum annual net income		50%
EBITDA to net interest expense ratio		3
Minimum access to liquidity amount		$ 15,000,000
Applicable interest rate at end of period			2.88%	1.69%	2.40%	2.88%
Interest rate description			Interest was charged under the Amended Agreement at a rate calculated using the Applicable Margin over SOFR based on the ratio of the company’s consolidated debt to consolidated EBITDA		Interest was charged at a rate as a variable spread over LIBOR based on a ratio of debt to EBITDA
Reference rate on which the interest rate is based			SOFR		LIBOR
Letters of credit, outstanding amount			$ 275,000	$ 275,000	$ 275,000
Outstanding amount			0	0	0
Interest paid during the year			8,000	0
Revolving Credit Facility [Member] | United States [Member] | Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Remaining letters of credit			725,000
Revolving Credit Facility [Member] | United States [Member] | Subsequent Event [Member]
Line Of Credit Facility [Line Items]
Minimum access to liquidity amount	$ 15,000,000
Revolving Credit Facility [Member] | United States [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate		1.35%
Revolving Credit Facility [Member] | United States [Member] | Minimum [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate		1.35%
Revolving Credit Facility [Member] | United States [Member] | Maximum [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on interest rate		2.50%
Revolving credit agreements [Member] | China [Member] | Chinese Yuan Renminbi [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity			$ 5,900,000			¥ 40,000,000
Expiration date			Nov. 15, 2022
Interest rate description			Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing
Outstanding amount			$ 0	0	0
Revolving credit agreements [Member] | China [Member] | United States Dollar [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity			$ 2,000,000
Expiration date			Aug. 30, 2022
Interest rate description			Interest charged under this agreement is based on an interest rate determined by the Chinese government at the time of borrowing.
Outstanding amount			$ 0	$ 0	$ 0

Fair Value - Recurring Basis (D

Fair Value - Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
U.S. Government Money Market Fund [Member]
Assets:
Investments at fair value	$ 8,853	$ 8,683	$ 8,205
Large Cap Equity Mutual Funds [Member]
Assets:
Investments at fair value			708
U.S. Event Driven Equity Mutual Fund [Member]
Assets:
Investments at fair value			194
Moderate Allocation Mutual Fund [Member]
Assets:
Investments at fair value	82	81	91
Other [Member]
Assets:
Investments at fair value	168	158	163
Growth Allocation Mutual Funds [Member]
Assets:
Investments at fair value	464	435	419
Bond Mutual Funds [Member]
Assets:
Investments at fair value			4,656
Inflation Protected Bond Mutual Funds [Member]
Assets:
Investments at fair value			2,979
Mortgage Securities Mutual Funds [Member]
Assets:
Investments at fair value			1,124
Quoted prices in active markets for identical assets - Level 1 [Member] | U.S. Government Money Market Fund [Member]
Assets:
Investments at fair value	8,853	8,683	8,205
Quoted prices in active markets for identical assets - Level 1 [Member] | Large Cap Equity Mutual Funds [Member]
Assets:
Investments at fair value			708
Quoted prices in active markets for identical assets - Level 1 [Member] | U.S. Event Driven Equity Mutual Fund [Member]
Assets:
Investments at fair value			194
Quoted prices in active markets for identical assets - Level 1 [Member] | Moderate Allocation Mutual Fund [Member]
Assets:
Investments at fair value	82	81	91
Quoted prices in active markets for identical assets - Level 1 [Member] | Other [Member]
Assets:
Investments at fair value	168	158	163
Quoted prices in active markets for identical assets - Level 1 [Member] | Growth Allocation Mutual Funds [Member]
Assets:
Investments at fair value	$ 464	$ 435	419
Quoted prices in active markets for identical assets - Level 1 [Member] | Bond Mutual Funds [Member]
Assets:
Investments at fair value			4,656
Quoted prices in active markets for identical assets - Level 1 [Member] | Inflation Protected Bond Mutual Funds [Member]
Assets:
Investments at fair value			2,979
Quoted prices in active markets for identical assets - Level 1 [Member] | Mortgage Securities Mutual Funds [Member]
Assets:
Investments at fair value			$ 1,124

Fair Value - Narrative (Detail)

Fair Value - Narrative (Detail) - USD ($)	Jul. 31, 2022	May 01, 2022		Aug. 01, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Short-term investments - available for sale	$ 0	$ 0		$ 9,700,000
Amortized cost of held-to-maturity investments				8,300,000
Fair value of held-to-maturity investments				8,300,000
Long-term investments (Rabbi Trust) - available for sale	9,567,000	9,357,000	[1]	8,841,000
Short-term Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Accumulated unrealized gain on investments				143,000
Long-term Investments (Rabbi Trust) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Accumulated unrealized gain on investments	$ 25,000	$ 32,000		$ 151,000
[1]Derived from audited financial statements.

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Schedule of Weighted Average Shares Used in the Computation of Basic and Diluted Net (Loss) Income Per Share (Detail) - shares shares in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Earnings Per Share [Abstract]
Weighted average common shares outstanding, basic	12,238	12,313
Dilutive effect of stock-based compensation		102
Weighted average common shares outstanding, diluted	12,238	12,415

Net (Loss) Income Per Share - N

Net (Loss) Income Per Share - Narrative (Detail) - Common Stock Awards [Member]	3 Months Ended
	Jul. 31, 2022 shares
Antidilutive securities due to decrease in stock price excluded from computation of loss per share	38,779
Antidilutive securities due to net loss recorded during the reporting period	42,489

Segment Information - Narrative

Segment Information - Narrative (Detail)	3 Months Ended
	Jul. 31, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Description of changes in reporting intangible assets in segment assets	Intangible assets are not included in segment assets as these assets are not used by the Chief Operating Decision Maker to evaluate the respective segment’s operating performance, allocate resources to individual segments, or determine executive compensation.

Segment Information - Statement

Segment Information - Statement of Operations for Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Segment Reporting Information [Line Items]
net sales	$ 62,604	$ 83,047
gross (loss) profit	4,128	12,499
selling, general, and administrative expenses	8,866	9,181
(loss) income from operations	(4,738)	3,318
interest income	17	74
other expense	(82)	(237)
(Loss) income before income taxes	(4,803)	3,155
Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
net sales	29,371	43,058
Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
net sales	33,233	39,989
Operating Segments [Member]
Segment Reporting Information [Line Items]
net sales	62,604	83,047
selling, general, and administrative expenses	8,866	9,181
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
net sales	29,371	43,058
gross (loss) profit	(37)	6,795
selling, general, and administrative expenses	2,885	3,184
(loss) income from operations	(2,921)	3,611
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
net sales	33,233	39,989
gross (loss) profit	4,165	5,704
selling, general, and administrative expenses	3,622	3,437
(loss) income from operations	542	2,267
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
selling, general, and administrative expenses	2,359	2,560
(loss) income from operations	$ (2,359)	$ (2,560)

Segment Information - Balance S

Segment Information - Balance Sheet Information by Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	May 01, 2022
Segment Reporting Information [Line Items]
Accounts receivable	$ 24,812	$ 35,008	$ 22,226	[1]
Inventory	63,749	58,613	66,557	[1]
Cash and cash equivalents	18,874	26,061	14,550	[1]
Short-term investments - available for sale		9,698
Short-term investments - held-to-maturity		1,661
Current income taxes receivable	798	524	857	[1]
Other current assets	3,840	3,889	2,986	[1]
Deferred income taxes	546	455	528	[1]
Property, plant and equipment	40,490	43,930	41,702	[1]
Right of use assets	14,556	11,447	15,577	[1]
Intangible assets	2,534	2,910	2,628	[1]
Long-term investments - rabbi trust	9,567	8,841	9,357	[1]
Long-term investments - held-to-maturity		6,629
Other assets	724	2,582	595	[1]
Total assets	180,490	212,248	177,563	[1]
Capital expenditures	583	1,653
Depreciation expense	1,770	1,726
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	138,938	146,624	141,137
Depreciation expense	1,770	1,726
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Accounts receivable	12,382	18,016	9,865
Inventory	36,471	31,778	39,028
Property, plant and equipment	37,354	41,311	38,731
Right of use assets	3,232	4,058	3,469
Total assets	89,439	95,163	91,093
Capital expenditures	197	1,117
Depreciation expense	1,568	1,521
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Accounts receivable	12,430	16,992	12,361
Inventory	27,278	26,835	27,529
Property, plant and equipment	2,271	1,650	2,030
Right of use assets	7,520	5,984	8,124
Total assets	49,499	51,461	50,044
Capital expenditures	360	262
Depreciation expense	202	205
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	18,874	26,061	14,550
Short-term investments - available for sale		9,698
Short-term investments - held-to-maturity		1,661
Current income taxes receivable	798	524	857
Other current assets	3,840	3,889	2,986
Deferred income taxes	546	455	528
Property, plant and equipment	865	969	941
Right of use assets	3,804	1,405	3,984
Intangible assets	2,534	2,910	2,628
Long-term investments - rabbi trust	9,567	8,841	9,357
Long-term investments - held-to-maturity		6,629
Other assets	724	2,582	595
Total assets	180,490	212,248	$ 177,563
Capital expenditures	$ 26	$ 274
[1]Derived from audited financial statements.

Segment Information - Balance_2

Segment Information - Balance Sheet Information by Operating Segments (Parenthetical) (Detail) - USD ($)	Jul. 31, 2022	May 01, 2022		Aug. 01, 2021
Segment Reporting Information [Line Items]
property, plant, and equipment	$ 40,490,000	$ 41,702,000	[1]	$ 43,930,000
Right of use assets	14,556,000	15,577,000	[1]	11,447,000
Operating Segments [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	37,354,000	38,731,000		41,311,000
Right of use assets	3,232,000	3,469,000		4,058,000
Operating Segments [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	2,271,000	2,030,000		1,650,000
Right of use assets	7,520,000	8,124,000		5,984,000
Operating Segments [Member] | United States [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	24,700,000	25,600,000		28,000,000
Right of use assets	1,100,000	1,200,000		1,400,000
Operating Segments [Member] | United States [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	1,100,000	1,000,000		1,100,000
Right of use assets	1,600,000	1,800,000		1,400,000
Operating Segments [Member] | Canada [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	11,900,000	12,400,000		12,400,000
Right of use assets	228,000	291,000		355,000
Operating Segments [Member] | Haiti [Member] | Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	718,000	757,000		875,000
Right of use assets	1,900,000	2,000,000		2,300,000
Operating Segments [Member] | Haiti [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	988,000	756,000		130,000
Right of use assets	2,500,000	2,600,000
Operating Segments [Member] | China [Member] | Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	232,000	255,000		400,000
Right of use assets	3,400,000	3,700,000		4,600,000
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	865,000	941,000		969,000
Right of use assets	3,804,000	3,984,000		1,405,000
Unallocated Corporate [Member] | United States [Member]
Segment Reporting Information [Line Items]
property, plant, and equipment	865,000	941,000		969,000
Right of use assets	$ 3,800,000	$ 4,000,000		$ 1,400,000
[1]Derived from audited financial statements.

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Income Tax Disclosure [Abstract]
Income taxes	$ 896,000	$ 905,000
Effective income tax rate	(18.70%)	28.70%

Income Taxes - Differences Betw

Income Taxes - Differences Between Income Tax Expense from Continuing Operations at Federal Income Tax Rate and Effective Income Tax Rate (Detail)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Income Tax Disclosure [Abstract]
U.S. federal income tax rate	21%	21%
U.S. valuation allowance	(35.40%)	(3.90%)
Withholding taxes associated with foreign jurisdictions	(5.00%)	4.70%
Foreign income tax rate differential	2.70%	2.80%
Stock-based compensation	(2.10%)	0.20%
Global Intangible Low Taxed Income Tax ("GILTI")		3.40%
Other	0.10%	0.50%
Effective income tax rate	(18.70%)	28.70%

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowances Against Net Deferred Income Tax Assets (Detail) - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
Valuation Allowance [Line Items]
Valuation allowance	$ 13,336	$ 11,857	$ 11,551
Capital Loss Carryforward [Member]
Valuation Allowance [Line Items]
Valuation allowance	2,330	2,330	2,330
U.S. Federal and State [Member] | Deferred Income Tax Assets [Member]
Valuation Allowance [Line Items]
Valuation allowance	$ 11,006	$ 9,527	$ 9,221

Income Taxes - Undistributed Ea

Income Taxes - Undistributed Earnings - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
Income Tax Disclosure [Abstract]
Dividends received deduction percentage for earnings and profits received from foreign corporation	100%
Dividends received deduction, foreign corporation ownership percentage	10%
Deferred tax liability, undistributed earnings from foreign subsidiaries	$ 3.8	$ 3.5	$ 3.2

Income Taxes - Uncertain Income

Income Taxes - Uncertain Income Tax Positions - Narrative (Detail) - USD ($)	Jul. 31, 2022	May 01, 2022	Aug. 01, 2021
Income Taxes [Line Items]
Unrecognized tax benefits	$ 1,100,000	$ 1,100,000	$ 1,400,000
Unrecognized tax benefits that would favorably impact effective income tax rate if recognized	1,100,000	1,100,000	1,100,000
Non-current Deferred Income Taxes [Member]
Income Taxes [Line Items]
Unrecognized tax benefits			380,000
Income Taxes Payable - Long-Term [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	$ 1,100,000	$ 1,100,000	$ 1,100,000

Income Taxes - Summary of Taxes

Income Taxes - Summary of Taxes Paid (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Income Taxes [Line Items]
Total income taxes paid	$ 630	$ 1,688
Foreign Tax Authority [Member] | China [Member]
Income Taxes [Line Items]
Total income taxes paid	548	921
China - Withholding Taxes Associated With Earnings and Profits Distributed to the U.S.		487
Foreign Tax Authority [Member] | Canada [Member]
Income Taxes [Line Items]
Total income taxes paid	$ 82	$ 280

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) - USD ($)			3 Months Ended
	Jul. 01, 2022	Jul. 01, 2021	Jul. 31, 2022	Aug. 01, 2021	Sep. 16, 2015
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock awarded			0
Performance Based Restricted Stock Units [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 2,000	$ 20,000
Time-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock awarded			0
Remaining unrecognized compensation expense			$ 895,000
Weighted average period over which unrecognized compensation expense is expected to be recognized			1 year 4 months 24 days
Fair value of units expected to vest			$ 887,000
Time-Based Restricted Stock Units [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			166,000	184,000
Common Stock Awards [Member] | Outside Directors [Member] | Immediate Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock awarded	19,753	4,312
Price Per Share	$ 4.24	$ 16.24
Common Stock Awards [Member] | Selling, General and Administrative Expenses [Member] | Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 84,000	$ 70,000
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized for issuance					1,200,000
Number of shares available for future equity based grants			558,375

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units (Detail) - Performance Based Restricted Stock Units [Member] - Senior Executives [Member]	Jul. 22, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of our common stock	$ 14.75
Expected volatility of our common stock	54.20%
Risk-free interest rate	0.33%
Dividend yield	3%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility of peer companies	45.70%	[1]
Correlation coefficient of peer companies	0.03%	[1]
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility of peer companies	101.50%	[1]
Correlation coefficient of peer companies	0.35%	[1]
[1]The expected volatility and correlation coefficient of our peer companies for the July 22, 2021, grant date was based on peer companies that were approved by the Compensation Committee of our board of directors as an aggregate benchmark for determining the market-based total shareholder return component. Therefore, we disclosed ranges of the expected volatility and correlation coefficient for the companies that represented this peer group.

Stock-Based Compensation - Su_2

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

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Grants of Performance-Based Restricted Stock Units Associated with Senior Executives and Key Employees (Parenthetical) (Detail) - Performance Based Restricted Stock Units [Member] - Senior Executives [Member]	Jul. 22, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value adjustment to closing price of common stock, percentage	108%
Fair value adjustment to closing price of common stock, per share	$ 1.18
Closing price of common stock	$ 14.75

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Vested Performance-Based Restricted Stock Units (Detail) - Performance Based Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Jul. 31, 2022	Aug. 01, 2021
Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[1]	545	5,051
Fair Value	[1],[2]	$ 3	$ 87
Price Per Share	[1],[3]	$ 5.10	$ 17.14
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested	[4]	437	5,812
Fair Value	[2],[4]	$ 2	$ 100
Price Per Share	[3],[4]	$ 5.10	$ 17.14
[1]Performance-based restricted stock units vested by senior executives.[2]Dollar amounts are in thousands.[3]Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested.[4]Performance-based restricted stock units vested by key employees.

Stock-Based Compensation - Su_5

Stock-Based Compensation - Summary of Grants of Time-Based Restricted Stock Unit Awards Associated with Key Member of Management (Detail) - Time-Based Restricted Stock Units [Member] - $ / shares					3 Months Ended
		Jul. 22, 2021	Aug. 06, 2020	Aug. 02, 2018	Jul. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-Based Restricted Stock Units Awarded					0
Senior Executives and Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-Based Restricted Stock Units Awarded		37,591	129,095	10,000
Price Per Share	[1]	$ 14.75	$ 11.01	$ 24.35
Vesting Period		3 years	3 years	5 years
[1] Price per share represents closing price of common stock on the date the respective award was granted.

Stock-Based Compensation - Su_6

Stock-Based Compensation - Summary of Time-based Restricted Stock Units (Detail) - Time-Based Restricted Stock Units [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 31, 2022 USD ($) $ / shares shares
Senior Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested | shares	19,786	[1]
Fair Value | $	$ 101	[1],[2]
Price Per Share | $ / shares	$ 5.10	[1],[3]
Key Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Vested | shares	13,013	[4]
Fair Value | $	$ 66	[2],[4]
Price Per Share | $ / shares	$ 5.10	[3],[4]
[1]Time-based restricted stock units vested by senior executives.[2]Dollar amounts are in thousands.[3]Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested.[4]Time-based restricted stock units vested by key employees.

Leases - Narrative (Detail)

Leases - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Lessee, operating lease, option to extend	renewal options for additional periods ranging up to twelve years
Operating lease expenses	$ 1,100,000	$ 876,000
Minimum [Member]
Operating lease remaining lease terms	1 year
Maximum [Member]
Operating lease remaining lease terms	9 years

Leases - Lessee Operating Lease

Leases - Lessee Operating Lease Right of Use Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jul. 31, 2022	May 01, 2022	[1]	Aug. 01, 2021
Assets And Liabilities Lessee [Abstract]
Right of use assets	$ 14,556	$ 15,577		$ 11,447
Operating lease liability - current	3,126	3,219		2,727
Operating lease liability – noncurrent	$ 6,160	$ 7,062		$ 6,665
[1]Derived from audited financial statements.

Leases - Operating Leases of Le

Leases - Operating Leases of Lessee Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Lessee Disclosure [Abstract]
Operating lease liability payments	$ 920	$ 717
Right of use assets exchanged for lease liabilities		$ 547

Leases - Lessee Operating Lea_2

Leases - Lessee Operating Lease Liability Maturity (Details) $ in Thousands	Jul. 31, 2022 USD ($)
Lessee Disclosure [Abstract]
2023	$ 2,376
2024	2,956
2025	1,925
2026	493
2027	457
Thereafter	1,410
Total	9,617
Less: interest	(331)
Present value of lease liabilities	$ 9,286

Leases - Weighted Average Lease

Leases - Weighted Average Lease Term and Discount Rate (Detail)	Jul. 31, 2022
Lessee Disclosure [Abstract]
Weighted average lease term	4 years 4 months 24 days
Weighted average discount rate	1.76%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Detail) - USD ($)	Jul. 31, 2022	May 01, 2022	[1]	Aug. 01, 2021
Commitments and Contingencies Disclosure [Line Items]
Accounts payable for capital expenditures	$ 346,000	$ 473,000		$ 48,000
Mattress Fabrics [Member] | Capital Addition Purchase Commitments [Member]
Commitments and Contingencies Disclosure [Line Items]
Open purchase commitments for equipment	$ 240,000
[1]Derived from audited financial statements.

Statutory Reserves - Narrative

Statutory Reserves - Narrative (Detail) - Subisidiary [Member] - China [Member] $ in Millions	3 Months Ended
	Jul. 31, 2022 USD ($)
Statutory Reserves [Line Items]
Percentage of net income required to be transferred to a statutory surplus reserve fund	10%
Maximum required percentage of statutory surplus reserve fund to registered capital	50%
Percentage of statutory surplus reserve fund to registered capital	50%
Statutory surplus reserve fund balance	$ 4.3
Minimum threshold percentage for statutory surplus reserve fund as percentage of registered capital, below which certain capital transactions are prohibited	25%

Common Stock Repurchase Progr_2

Common Stock Repurchase Program (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021	Mar. 31, 2020
Stockholders Equity Note [Line Items]
Cost of common stock repurchase		$ 723,000
Common Stock [Member]
Stockholders Equity Note [Line Items]
Common stock repurchased	0	48,686
Cost of common stock repurchase		$ 2,000
Remaining authorized repurchase amount	$ 3,200,000
Stock Repurchase Program March 2020 [Member] | Common Stock [Member]
Stockholders Equity Note [Line Items]
Authorization amount for repurchase of common stock			$ 5,000,000

Dividend Program - Narrative (D

Dividend Program - Narrative (Detail) - USD ($)	3 Months Ended
	Jul. 31, 2022	Aug. 01, 2021
Dividends [Line Items]
Cash dividends paid		$ 1,356,000
Quarterly Dividend [Member]
Dividends [Line Items]
Cash dividends paid	$ 0	$ 1,400,000
Cash dividend payment, per share		$ 0.11