<SEC-DOCUMENT>0001157523-21-000714.txt : 20210525
<SEC-HEADER>0001157523-21-000714.hdr.sgml : 20210525
<ACCEPTANCE-DATETIME>20210525110955
ACCESSION NUMBER:		0001157523-21-000714
CONFORMED SUBMISSION TYPE:	SD
PUBLIC DOCUMENT COUNT:		1
<RULE>
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FILED AS OF DATE:		20210525
DATE AS OF CHANGE:		20210525

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:		21958746

	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
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<DESCRIPTION>CULP, INC. FORM SD
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      COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman';">Washington, D.C. 20549</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">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', serif; font-weight: bold;"><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">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; font-family: 'Times New Roman';">(State or other jurisdiction of</div>
            <div style="text-align: center; font-family: 'Times New Roman';">incorporation or organization)</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">(Commission File Number)</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
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            <div style="text-align: center; font-family: 'Times New Roman';">(I.R.S. Employer</div>
            <div style="text-align: center; font-family: 'Times New Roman';">Identification No.)</div>
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            <div style="text-align: center; font-family: 'Times New Roman';"><font style="font-weight: bold;">1823 Eastchester Drive</font></div>
            <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">High Point, North Carolina</div>
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            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="text-align: center; font-family: 'Times New Roman'; 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; font-family: 'Times New Roman'; font-weight: bold;">(336)&#160;889-5161</div>
    <div style="text-align: center; font-family: 'Times New Roman';">(Name and telephone number, including area code, of the person to contact in connection with this report)</div>
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    <div style="font-family: 'Times New Roman';">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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            <div>Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2020.</div>
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    <div style="font-family: 'Times New Roman'; font-weight: bold;">Section 1 &#8211; Conflict Minerals Disclosure</div>
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          <td style="width: 72pt; vertical-align: top; font-family: 'Times New Roman'; font-weight: bold;">Item 1.01</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman';">
            <div style="font-weight: bold;">CONFLICT MINERALS DISCLOSURE AND REPORT</div>
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    <div style="text-indent: -72pt; margin-left: 72pt; font-family: 'Times New Roman'; font-weight: bold;">Company Background</div>
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    <div style="text-align: justify; font-family: 'Times New Roman';">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; From January 1, 2020 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. 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>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">The Company had three operating segments during the 2020 calendar year: mattress fabrics, upholstery fabrics, and home accessories.</div>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-style: italic;">Mattress Fabrics</div>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">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 style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-style: italic;">Upholstery Fabrics</div>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">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 style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">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, as well as measuring and installation services of Read&#8217;s 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 style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-style: italic;">Home Accessories</div>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">From January 1, 2020 through March 31, 2020, 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; font-family: 'Times New Roman';">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>
    <div style="text-align: justify; font-family: 'Times New Roman';">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-family: 'Times New Roman'; font-weight: bold;">Conflict Minerals Disclosure</div>
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    <div style="text-align: justify; font-family: 'Times New Roman';">We have concluded in good faith that for the reporting period of January 1, 2020 to December 31, 2020:</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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              <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="font-family: 'Times New Roman';"><br>
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    <div style="text-align: justify; font-family: 'Times New Roman';">To determine whether any of the Subject Minerals existed in any of our products, our due diligence included obtaining written certifications from direct suppliers (i) that were either
      identified as significant (inventory purchases greater than $500,000), or (ii) 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. We performed our due diligence procedures on direct suppliers that represented 88% of our procurement activities.</div>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">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;), as
      the term is used in Item 1.01 of Form SD, 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 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 written certifications to direct suppliers for this RCOI that represented 88% of our procurement activities, and all of these suppliers provided responses to our request for written certifications.</div>
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    <div style="font-family: 'Times New Roman';"><br>
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    <div style="text-align: justify; font-family: 'Times New Roman';">As a result of our RCOI conducted as described above, all of our applicable 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 style="font-family: 'Times New Roman';"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman';">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>
    <div style="font-family: 'Times New Roman';"><br>
    </div>
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">Section 2 &#8211; EXHIBITS</div>
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    <div style="text-align: justify; font-family: 'Times New Roman'; font-weight: bold;">None</div>
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    <br>
    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">SIGNATURE</div>
    <div style="font-family: 'Times New Roman';">&#160;</div>
    <div style="font-family: 'Times New Roman';">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>
    <div style="font-family: 'Times New Roman';">&#160;</div>
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            <div>May 25, 2021</div>
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            <div style="font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Thomas B.
                Gallagher, Jr.</font></div>
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            <div>&#160;</div>
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            <div style="font-family: 'Times New Roman';">Corporate Controller</div>
            <div style="font-family: 'Times New Roman';">(principal accounting officer)</div>
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