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Segment Information (Tables) | 12 Months Ended
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Apr. 27, 2025
Segment Reporting [Abstract] |
Summary of Segment Information by Geographic Area | International sales accounted for 33%, 32%, and 29% of net sales during fiscal 2025, 2024, and 2023, respectively, and are summarized by geographic area as follows:
(dollars in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
north america (excluding USA) (1) |  | $ | 32,912 |  |  | $ | 29,357 |  |  | $ | 29,756 |
far east and asia (2) |  |  | 30,586 |  |  |  | 36,334 |  |  |  | 31,339 |
all other areas |  |  | 6,026 |  |  |  | 6,011 |  |  |  | 8,032 |
|  | $ | 69,524 |  |  | $ | 71,702 |  |  | $ | 69,127 |
(1) Of this amount, $28.8 million, $25.1 million, and $24.9 million are attributable to shipments to Mexico in fiscal 2025, 2024, and 2023, respectively. (2) Of this amount $16.0 million, $18.3 million, and $20.0 million are attributable to shipments within China in fiscal 2025, 2024, and 2023, respectively.
Schedule of Business Segments Information | Statements of operations for our business segments are as follows:
(dollars in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
net sales by segment: |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 113,906 |  |  | $ | 116,370 |  |  | $ | 110,995 |
upholstery fabrics |  |  | 99,331 |  |  |  | 108,963 |  |  |  | 123,939 |
net sales |  | $ | 213,237 |  |  | $ | 225,333 |  |  | $ | 234,934 |
cost of sales by segment: |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 105,970 |  |  | $ | 110,081 |  |  | $ | 117,734 |
upholstery fabrics |  |  | 80,579 |  |  |  | 87,273 |  |  |  | 106,206 |
total segment cost of sales |  |  | 186,549 |  |  |  | 197,354 |  |  |  | 223,940 |
restructuring related charge (1) (3) (5) |  |  | 1,621 |  |  |  | 40 |  |  |  | 98 |
cost of sales |  | $ | 188,170 |  |  | $ | 197,394 |  |  | $ | 224,038 |
gross profit: |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 7,936 |  |  | $ | 6,289 |  |  | $ | (6,739 | )
upholstery fabrics |  |  | 18,752 |  |  |  | 21,690 |  |  |  | 17,733 |
total segment gross profit |  |  | 26,688 |  |  |  | 27,979 |  |  |  | 10,994 |
restructuring related charge (1) (3) (5) |  |  | (1,621 | ) |  |  | (40 | ) |  |  | (98 | )
gross profit |  | $ | 25,067 |  |  | $ | 27,939 |  |  | $ | 10,896 |
selling, general, and administrative expenses by segment: |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 13,171 |  |  | $ | 13,134 |  |  | $ | 11,942 |
upholstery fabrics |  |  | 14,695 |  |  |  | 15,903 |  |  |  | 15,739 |
unallocated corporate |  |  | 7,839 |  |  |  | 9,574 |  |  |  | 10,297 |
selling, general, and administrative expenses |  | $ | 35,705 |  |  | $ | 38,611 |  |  | $ | 37,978 |
(loss) income from operations by segment: |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | (5,235 | ) |  | $ | (6,845 | ) |  | $ | (18,681 | )
upholstery fabrics |  |  | 4,057 |  |  |  | 5,787 |  |  |  | 1,994 |
unallocated corporate expenses |  |  | (7,839 | ) |  |  | (9,574 | ) |  |  | (10,297 | )
total segment loss from operations |  |  | (9,017 | ) |  |  | (10,632 | ) |  |  | (26,984 | )
restructuring related charge (1) (3) (5) |  |  | (1,621 | ) |  |  | (40 | ) |  |  | (98 | )
restructuring expense (2) (4) (6) |  |  | (7,739 | ) |  |  | (636 | ) |  |  | (1,396 | )
loss from operations |  | $ | (18,377 | ) |  | $ | (11,308 | ) |  | $ | (28,478 | )
interest expense |  |  | (231 | ) |  |  | (11 | ) |  |  | — |
interest income |  |  | 915 |  |  |  | 1,174 |  |  |  | 531 |
other expense |  |  | (1,018 | ) |  |  | (625 | ) |  |  | (443 | )
loss before income taxes |  | $ | (18,711 | ) |  | $ | (10,770 | ) |  | $ | (28,390 | )
(1) During fiscal 2025, we incurred a restructuring related charge totaling $1.6 million, which pertained to losses on the disposal, valuation, and markdowns of inventory related to the closure of our manufacturing facility located in Quebec, Canada. (2) For fiscal 2025, restructuring expense of $7.7 million mostly relates to the mattress fabrics segment. The $7.7 million restructuring expense represents costs associated with: (i) consolidating the company's North American mattress fabrics operations, including the closure of the company's Property located in Quebec, Canada; (ii) consolidating two leased facilities related to the sewn mattress cover operation located in Ouanaminthe, Haiti, into one facility and reducing other operating expenses at this location; (iii) initial costs related to consolidating production and distribution activities from the upholstery fabrics distribution center located in Burlington, North Carolina to the mattress fabrics manufacturing and distribution center located in Stokesdale, North Carolina; and (v) other expenses incurred as part of the company's strategic plan to transform it's operating model as announced on April 24, 2025. See Note 10 located in the consolidated financial statements for further details regarding the restructuring activities announced on May 1, 2024 (first quarter of fiscal 2025) and April 24, 2025 (fourth quarter of fiscal 2025). (3) During fiscal 2024, we incurred a restructuring related charge of $40,000, which pertained to markdowns of inventory related to the discontinuation of production of cut and sewn upholstery kits at the company's facility in Ouanaminthe, Haiti. (4) For fiscal 2024, restructuring expense of $636,000 represents impairment charges related to equipment of $329,000 and employee termination benefits of $103,000 related to the discontinuation of production of cut and sewn upholstery kits at the company's facility in Ouanaminthe, Haiti. In addition, during the fourth quarter of fiscal 2024, restructuring expense of $204,000 was incurred for employee termination benefits related to the closure of the upholstery fabrics finishing operation located in Shanghai China. (5) During fiscal 2023, we incurred a restructuring related charge totaling $98,000, which pertained to loss on disposal and markdowns of inventory related to the exit of our cut and sewn upholstery fabrics operation located in Shanghai, China. (6) For fiscal 2023, restructuring expense of $1.4 million relates to both our restructuring activities for our cut and sewn upholstery fabrics operations located in Shanghai, China, which occurred during the second quarter of fiscal 2023, and those located in Ouanaminthe, Haiti, which occurred during the third and fourth quarters of fiscal 2023. Restructuring expense represents employee termination benefits of $507,000, lease termination costs of $481,000, impairment losses totaling $357,000 that relate to leasehold improvements and equipment, and $51,000 for other associated costs. Balance sheet information for our business segments follow:
(dollars in thousands) |  | April 27, 2025 |  |  |  | April 28, 2024 |  |
segment assets |  |  |  |  |  |  |  |
mattress fabrics |  |  |  |  |  |  |  |
accounts receivable |  | $ | 10,576 |  |  |  | $ | 10,003 |  |
inventory |  |  | 33,293 |  |  |  |  | 27,671 |  |
property, plant, and equipment (1) (2) |  |  | 23,259 |  |  |  |  | 31,472 |  |
assets held for sale (3) |  |  | 2,177 |  |  |  |  | — |  |
right of use assets (4) (5) |  |  | 125 |  |  |  |  | 1,627 |  |
total mattress fabrics assets |  |  | 69,430 |  |  |  |  | 70,773 |  |
upholstery fabrics |  |  |  |  |  |  |  |
accounts receivable |  |  | 11,268 |  |  |  |  | 11,135 |  |
inventory |  |  | 16,016 |  |  |  |  | 17,172 |  |
property, plant, and equipment (6) (7) |  |  | 1,010 |  |  |  |  | 1,125 |  |
right of use assets (8) (9) |  |  | 2,678 |  |  |  |  | 1,952 |  |
total upholstery fabrics assets |  |  | 30,972 |  |  |  |  | 31,384 |  |
total segment assets |  |  | 100,402 |  |  |  |  | 102,157 |  |
non-segment assets |  |  |  |  |  |  |  |
cash and cash equivalents |  |  | 5,629 |  |  |  |  | 10,012 |  |
short-term investments – rabbi trust |  |  | 1,325 |  |  |  |  | 903 |  |
short-term note receivable |  |  | 280 |  |  |  |  | 264 |  |
current income taxes receivable |  |  | — |  |  |  |  | 350 |  |
other current assets |  |  | 2,970 |  |  |  |  | 3,371 |  |
long-term note receivable |  |  | 1,182 |  |  |  |  | 1,462 |  |
deferred income taxes |  |  | 637 |  |  |  |  | 518 |  |
property, plant, and equipment (10) |  |  | 567 |  |  |  |  | 585 |  |
right of use assets (11) |  |  | 3,105 |  |  |  |  | 2,624 |  |
intangible assets |  |  | 960 |  |  |  |  | 1,876 |  |
long-term investments - rabbi trust |  |  | 5,722 |  |  |  |  | 7,102 |  |
other assets |  |  | 591 |  |  |  |  | 830 |  |
total assets |  | $ | 123,370 |  |  |  | $ | 132,054 |  |
(1) The $23.3 million as of April 27, 2025, represents property, plant, and equipment of $22.3 million, and $955,000 located in the U.S. and Haiti, respectively. (2) The $31.5 million as of April 28, 2024, represents property, plant, and equipment of $21.5 million, $9.4 million, and $555,000 located in the U.S., Canada, and Haiti, respectively. (3) The $2.2 million as of April 27, 2025, represents assets held for sale located in Canada. (4) The $125,000 as of April 27, 2025, represents right of use assets located in Haiti. (5) The $1.6 million as of April 28, 2024, represents right of use assets of $1.1 million and $545,000 located in Haiti and Canada, respectively. (6) The $1.0 million as of April 27, 2025, represents property, plant, and equipment of $940,000 and $70,000 located in the U.S. and China, respectively. (7) The $1.1 million as of April 28, 2024, represents property, plant, and equipment of $1.0 million and $120,000 located in the U.S. and China, respectively. (8) The $2.7 million as of April 27, 2025, represents right of use assets of $1.7 million and $1.0 million located in China and the U.S., respectively. (9) The $2.0 million as of April 28, 2024, represents right of use assets of $1.3 million and $709,000 located in the U.S. and China, respectively (10) The $567,000 as of April 27, 2025, and $585,000 as of April 28, 2024, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress fabrics and upholstery fabrics segments located in the U.S. (11) The $3.1 million as of April 27, 2025, and $2.6 million as of April 28, 2024, represent right of use assets associated with unallocated corporate departments and corporate departments shared by both the mattress fabrics and upholstery fabrics segments located in the U.S. Capital expenditures and depreciation expense information for our business segments follow:
(dollars in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
capital expenditures (1): |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 1,550 |  |  | $ | 3,474 |  |  | $ | 1,125 |
upholstery fabrics |  |  | 285 |  |  |  | 271 |  |  |  | 467 |
unallocated corporate |  |  | 792 |  |  |  | 255 |  |  |  | 97 |
total capital expenditures |  | $ | 2,627 |  |  | $ | 4,000 |  |  | $ | 1,689 |
depreciation expense |  |  |  |  |  |  |  |  |
mattress fabrics (2) |  | $ | 6,178 |  |  | $ | 5,883 |  |  | $ | 6,050 |
upholstery fabrics |  |  | 601 |  |  |  | 638 |  |  |  | 795 |
total depreciation expense |  | $ | 6,779 |  |  | $ | 6,521 |  |  | $ | 6,845 |
(1) Capital expenditure amounts are stated on an accrual basis. See Consolidated Statement of Cash Flows for capital expenditure amounts on a cash basis. (2) During fiscal 2025, depreciation expense for the mattress fabrics segment included additional depreciation expense related to the shortening of useful lives of equipment associated with the closure of operations at our manufacturing facility located in Quebec, Canada. The amount of additional depreciation expense totaling $1.3 million was classified as restructuring expense in our fiscal 2025 Consolidated Statement of Net Loss.

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