<SEC-DOCUMENT>0001157523-20-000840.txt : 20200601
<SEC-HEADER>0001157523-20-000840.hdr.sgml : 20200601
<ACCEPTANCE-DATETIME>20200601121325
ACCESSION NUMBER:		0001157523-20-000840
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		1
<RULE>
<RULE-NAME>13p-1
<ITEM>
<ITEM-NUMBER>1.01
<ITEM-PERIOD>20191231
</ITEM>
</RULE>
FILED AS OF DATE:		20200601
DATE AS OF CHANGE:		20200601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0503

	FILING VALUES:
		FORM TYPE:		SD
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12597
		FILM NUMBER:		20932131

	BUSINESS ADDRESS:	
		STREET 1:		1823 EASTCHESTER DRIVE
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2686
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
</SEC-HEADER>
<DOCUMENT>
<TYPE>SD
<SEQUENCE>1
<FILENAME>a52228079.htm
<DESCRIPTION>CULP, INC. FORM SD
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    <div style="text-align: center;">UNITED STATES</div>
    <div style="text-align: center;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center;">Washington, D.C. 20549</div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">FORM SD</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">SPECIALIZED DISCLOSURE REPORT</div>
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      <div>&#160;</div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">CULP, INC.</div>
    <div style="text-align: center; font-weight: bold;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;">(</font><font style="font-size: 12pt;">Exact name of registrant as specified in its charter)</font></div>
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            <div style="text-align: center; font-weight: bold;">North Carolina</div>
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            <div style="text-align: center; font-weight: bold;">1-12597</div>
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            <div style="text-align: center; font-weight: bold;">56-1001967</div>
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            <div style="text-align: center;">(State or other jurisdiction of</div>
            <div style="text-align: center;">incorporation or organization)</div>
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            <div style="text-align: center;">(Commission File Number)</div>
            <div>&#160;</div>
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            <div style="text-align: center;">(I.R.S. Employer</div>
            <div style="text-align: center;">Identification No.)</div>
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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">1823 Eastchester Drive</font></div>
            <div style="text-align: center; font-weight: bold;">High Point, North Carolina</div>
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          <td style="width: 33%; vertical-align: top;">&#160;</td>
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            <div>&#160;</div>
            <div style="text-align: center; font-weight: bold;">27265</div>
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            <div style="text-align: center;">(Address of principal executive offices)</div>
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            <div style="text-align: center;">(Zip Code)</div>
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    <div style="text-align: center; font-weight: bold;">(336)&#160;889-5161</div>
    <div style="text-align: center;">(Name and telephone number, including area code, of the person to contact in connection with this report)</div>
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    <div>Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:</div>
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            <div>&#9746;</div>
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          <td style="width: 95.38%; vertical-align: top;">
            <div>Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2019.</div>
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    <div style="font-weight: bold;">Section 1 &#8211; Conflict Minerals Disclosure</div>
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              <td style="width: 72pt; vertical-align: top; align: right; font-weight: bold;">Item 1.01</td>
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                <div style="font-weight: bold;">CONFLICT MINERALS DISCLOSURE AND REPORT</div>
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    <div style="text-align: justify;">Culp, Inc. (the &#8220;Company&#8221;) manufactures, sources, develops, and sells mattress fabrics and sewn covers used for covering mattresses, foundations, and other bedding products; and upholstery fabrics, including cut and
      sewn kits, primarily used in the production of upholstered furniture.&#160; During the 2019 calendar year and through March 31, 2020, the Company, through its majority ownership interest in eLuxury, LLC (&#8220;eLuxury&#8221;), also manufactured, sourced, developed,
      and sold finished bedding accessories and home good products directly to consumers and businesses through global e-commerce and business-to-business sales channels.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The Company had three operating segments during the 2019 calendar year: mattress fabrics, upholstery fabrics, and home accessories.</div>
    <div><br>
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    <div style="text-align: justify; font-style: italic;">Mattress Fabrics</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The mattress fabric segment markets primarily knitted and woven fabrics, as well as sewn covers made from such fabrics, to bedding manufacturers who use these fabrics and covers in the production of various bedding
      products, including mattresses, foundations, and mattress sets.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic;">Upholstery Fabrics</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The upholstery fabrics segment markets a variety of fabric products primarily to residential and commercial furniture manufacturers who use these fabrics in the production of upholstered furniture, including sofas,
      recliners, chairs, loveseats, sectionals, sofa-beds, and office seating.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Additionally, through the Company&#8217;s wholly-owned subsidiary Read Window Products, LLC (&#8220;Read&#8221;), this segment also provides window treatments and sourcing of upholstery fabrics and other products, measuring, and
      installation services of their own products to customers in the hospitality and commercial industries. Read&#8217;s custom product line includes motorization, shades, upholstered drapery, upholstered headboards, and shower curtains.&#160; Read also supplies
      soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-style: italic;">Home Accessories</div>
    <div><br>
    </div>
    <div style="text-align: justify;">During the 2019 calendar year, the Company&#8217;s home accessories segment, through the Company&#8217;s majority ownership interest in eLuxury, marketed bedding accessories and home good products directly to consumers and
      businesses through global e-commerce and business-to-business sales channels.&#160; The primary products for this segment during this period included mattress pads and protectors, handmade platform beds, cotton bed sheets, dog beds, and other bedding and
      home good items.&#160; Effective March 31, 2020, the Company sold its entire ownership interest in eLuxury, resulting in the elimination of the home accessories segment at such time.</div>
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    <div style="text-align: justify;">Because the Company manufactures and contracts to manufacture products from materials and components acquired from third parties, it must rely on its direct suppliers (and they in turn rely upon their suppliers) to
      determine whether any of the materials and components included in our products include any &#8220;conflict minerals&#8221; (as defined in Section 1, Item 1.01(d)(3) of Form SD) (collectively, the &#8220;Subject Minerals&#8221;) and, if any of the Subject Minerals are
      included in any product, the source of the Subject Mineral.</div>
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    <div style="text-align: justify;">The Company supports efforts to end the human suffering associated with the mining of Subject Minerals in the Democratic Republic of the Congo and adjoining countries (the &#8220;Covered Countries&#8221;) that directly or
      indirectly finance or benefit armed groups that have been identified as perpetrators of serious human rights abuses.</div>
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    <div style="text-align: justify; font-weight: bold;">Conflict Minerals Disclosure</div>
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    <div style="text-align: justify;">We have concluded in good faith that during 2019:</div>
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              <div style="margin-left: 18pt;">&#8226;</div>
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              <div style="text-align: justify;">We have manufactured and contracted to manufacture products as to which Subject Minerals are necessary to the functionality or production of our products.</div>
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      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3d4bf49c2b7e4489997f7455789914d9">

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              <div style="margin-left: 18pt;">&#8226;</div>
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              <div style="text-align: justify;">Based on a &#8220;reasonable country of origin inquiry&#8221; we know or have reason to believe that the necessary Subject Minerals did not originate in the Covered Countries.</div>
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    <div style="text-align: justify;">To determine whether any of the Subject Minerals existed in any of our products, our due diligence employed a combination of procedures.&#160; These procedures primarily included (i) obtaining written certifications from
      direct suppliers that were either identified as significant (inventory purchases greater than $500,000) or that provided products that had a higher risk of containing Subject Minerals regardless of the dollar amount of inventory purchases, in each
      case as determined by the Company&#8217;s management; and (ii) a review of the chemical composition of yarns and other raw materials. We performed our due diligence procedures on direct suppliers that represented 89% of our procurement activities.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In conjunction with or as a follow up after determining whether any of our products included any of the Subject Minerals, we conducted a reasonable country of origin inquiry (&#8220;RCOI&#8221;) to determine whether the Subject
      Minerals in our products originated from the Covered Countries.&#160; We conducted this RCOI by obtaining written certifications from direct suppliers that were identified as significant (inventory purchases greater than $500,000) by the Company&#8217;s
      management, and also by obtaining written certifications from the direct suppliers that were identified through the due diligence process described above as having products that contained Subject Minerals. We sent and obtained written certifications
      for this RCOI that represented 88% of our procurement activities.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">As a result of our RCOI conducted as described above, all of our suppliers who contribute necessary Subject Minerals have provided a response to our request for written certifications. Based on the written
      certifications that were obtained, we know or have reason to believe that the necessary Subject Minerals included in our products did not originate from the Covered Countries.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">In accordance with Rule 13p-1 under the Securities Exchange Act of 1934, we filed the Specialized Disclosure Form. A copy of this form is publicly available at www.culp.com.</div>
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    <div style="text-align: justify; font-weight: bold;">Section 2 &#8211; EXHIBITS</div>
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    <div style="text-align: justify; font-weight: bold;">None</div>
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    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div>&#160;</div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</div>
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            <div>June 1, 2020</div>
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            <div>&#160;</div>
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          <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div><font style="font-style: italic;">/s/ </font>Thomas B. Gallagher, Jr.</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>Corporate Controller</div>
            <div>(principal accounting officer)</div>
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