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Segment Information (Tables) | 3 Months Ended
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Aug. 03, 2025
Segment Reporting [Abstract] |
Schedule of Operating Segments Information | Statements of operations for our operating segments are as follows:
|  | Three months ended |
|  | August 3, 2025 |  |  | July 28, 2024 |
Net sales by segment: |  |  |  |  |  |
Bedding |  | $ | 28,046 |  |  | $ | 28,076 |
Upholstery |  |  | 22,645 |  |  |  | 28,461 |
Net sales |  | $ | 50,691 |  |  | $ | 56,537 |
Cost of Sales by segment: |  |  |  |  |  |
Bedding |  | $ | 25,104 |  |  | $ | 28,402 |
Upholstery |  |  | 18,359 |  |  |  | 22,943 |
Total segment cost of sales |  | $ | 43,463 |  |  | $ | 51,345 |
Restructuring related charge (1) |  |  | — |  |  |  | 116 |
Cost of Sales |  | $ | 43,463 |  |  | $ | 51,461 |
Gross profit (loss) by segment: |  |  |  |  |  |
Bedding |  | $ | 2,942 |  |  | $ | (326 | )
Upholstery |  |  | 4,286 |  |  |  | 5,518 |
Total segment gross profit |  | $ | 7,228 |  |  | $ | 5,192 |
Restructuring related charge (1) |  |  | — |  |  |  | (116 | )
Gross profit |  | $ | 7,228 |  |  | $ | 5,076 |
Selling, general, and administrative expenses |  |  | (9,119 | ) |  |  | (9,296 | )
Restructuring credit (expense) (2)(3) |  |  | 3,508 |  |  |  | (2,631 | )
Income (loss) from operations |  | $ | 1,617 |  |  | $ | (6,851 | )
Interest expense |  |  | (183 | ) |  |  | (28 | )
Interest income |  |  | 235 |  |  |  | 262 |
Other expense |  |  | (531 | ) |  |  | (404 | )
Income (loss) before income taxes |  | $ | 1,138 |  |  | $ | (7,021 | )
(1) For the three-month period ended July 28, 2024, cost of sales and gross profit included restructuring related charges totaling $116,000 for losses on the disposal and valuation of inventory related to the gradual discontinuation of operations at our manufacturing facility located in Quebec, Canada, which such facility was sold during the first quarter of fiscal 2026. See Note 10 to the consolidated financial statements for further details and a description of our restructuring activities. (2) For the three-month period ended August 3, 2025, the $3.5 million restructuring credit mostly represented a gain from the sale of the Property located in Quebec, Canada, totaling $4.0 million, partially offset by charges related to activities to transform our operating model and reduce fixed costs. See Note 10 to the consolidated financial statements for further details and a description of our restructuring activities. (3) For the three-month period ended July 28, 2024, the $2.6 million restructuring expense represented costs that were mostly associated with consolidating the company's North American mattress fabrics manufacturing and distribution facilities and the consolidation of two leased facilities related to cut and sewn mattress cover operations located in Ouanaminthe, Haiti. Balance sheet information for our operating segments follows:
(dollars in thousands) |  | August 3, 2025 |  |  | July 28, 2024 |  |  | April 27, 2025 |
Segment assets: |  |  |  |  |  |  |  |  |
Bedding: |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 10,216 |  |  | $ | 10,094 |  |  | $ | 10,576 |
Inventory |  |  | 35,102 |  |  |  | 25,278 |  |  |  | 33,293 |
Property, plant and equipment (1) |  |  | 22,061 |  |  |  | 28,844 |  |  |  | 23,259 |
Right of use assets (2) |  |  | 50 |  |  |  | 568 |  |  |  | 125 |
Assets held for sale (3) |  |  | 40 |  |  |  | 607 |  |  |  | 2,177 |
Total bedding assets |  |  | 67,469 |  |  |  | 65,391 |  |  |  | 69,430 |
Upholstery: |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | 8,166 |  |  |  | 11,493 |  |  |  | 11,268 |
Inventory |  |  | 15,007 |  |  |  | 16,390 |  |  |  | 16,016 |
Property, plant and equipment (4) |  |  | 956 |  |  |  | 1,098 |  |  |  | 1,010 |
Right of use assets (5) |  |  | 2,159 |  |  |  | 1,478 |  |  |  | 2,678 |
Total upholstery assets |  |  | 26,288 |  |  |  | 30,459 |  |  |  | 30,972 |
Total segment assets |  |  | 93,757 |  |  |  | 95,850 |  |  |  | 100,402 |
Non-segment assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 11,094 |  |  |  | 13,472 |  |  |  | 5,629 |
Short-term investments - rabbi trust |  |  | 1,395 |  |  |  | 954 |  |  |  | 1,325 |
Short-term notes receivable |  |  | 5,104 |  |  |  | 268 |  |  |  | 280 |
Current income taxes receivable |  |  | — |  |  |  | 532 |  |  |  | — |
Other current assets |  |  | 2,767 |  |  |  | 3,590 |  |  |  | 2,970 |
Long-term notes receivable |  |  | 1,078 |  |  |  | 1,394 |  |  |  | 1,182 |
Deferred income taxes |  |  | 475 |  |  |  | 528 |  |  |  | 637 |
Property, plant and equipment (6) |  |  | 535 |  |  |  | 534 |  |  |  | 567 |
Right of use assets (7) |  |  | 2,953 |  |  |  | 2,437 |  |  |  | 3,105 |
Intangible assets |  |  | 865 |  |  |  | 1,782 |  |  |  | 960 |
Long-term investments - rabbi trust |  |  | 5,715 |  |  |  | 7,089 |  |  |  | 5,722 |
Other assets |  |  | 676 |  |  |  | 709 |  |  |  | 591 |
Total assets |  | $ | 126,414 |  |  | $ | 129,139 |  |  | $ | 123,370 |
(1) The $22.1 million as of August 3, 2025, represents property, plant, and equipment of $21.2 million and $888,000 located in the U.S. and Haiti, respectively. The $28.8 million as of July 28, 2024, represents property, plant, and equipment of $20.9 million, $7.4 million, and $511,000 located in the U.S., Canada, and Haiti, respectively. 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 $50,000 as of August 3, 2025, represents a right of use asset in Haiti. The $568,000 as of July 28, 2024, represents right of use assets of $350,000 and $218,000 located in Haiti and Canada, respectively. The $125,000 as of April 27, 2025, represents a right of use asset in Haiti. (3) The $40,000 as of August 3, 2025, represents assets held for sale located in the U.S. The $607,000 as of July 28, 2024, represents assets held for sale of $357,000 and $250,000 located in the U.S. and Haiti, respectively. The $2.2 million as of April 27, 2025, represents assets held for sale located in Canada. (4) The $956,000 as of August 3, 2025, represents property, plant, and equipment of $897,000 and $59,000 located in the U.S. and China, respectively. The $1.1 million as of July 28, 2024, represents property, plant, and equipment of $990,000 and $108,000 located in the U.S. and China, respectively. 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. (5) The $2.2 million as of August 3, 2025, represents right of use assets of $1.4 million and $771,000 located in China and the U.S., respectively. The $1.5 million as of July 28, 2024, represents right of use assets of $1.1 million and $393,00 located in U.S. and China, respectively. 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. (6) The $535,000, $534,000, and $567,000 as of August 3, 2025, July 28, 2024, and April 27, 2025, respectively, represents property, plant, and equipment located in the U.S. (7) The $3.0 million, $2.4 million, and $3.1 million as of August 3, 2025, July 28, 2024, and April 27, 2025, respectively, represent right of use assets located in the U.S. Information about capital expenditures and depreciation expense for our operating segments follows:
|  | Three months ended |
(dollars in thousands) |  | August 3, 2025 |  |  | July 28, 2024 |
Capital expenditures (1): |  |  |  |  |  |
Bedding |  | $ | 100 |  |  | $ | 134 |
Upholstery |  |  | 50 |  |  |  | 68 |
Non-Segment |  |  | 14 |  |  |  | 12 |
Total capital expenditures |  | $ | 164 |  |  | $ | 214 |
Depreciation expense: |  |  |  |  |  |
Bedding |  | $ | 889 |  |  | $ | 1,284 |
Upholstery |  |  | 40 |  |  |  | 39 |
Selling, general and administrative |  |  | 182 |  |  |  | 258 |
Total depreciation expense |  | $ | 1,111 |  |  | $ | 1,581 |
Accelerated depreciation expense (2) (3) |  |  | 22 |  |  |  | 875 |
Total |  | $ | 1,133 |  |  | $ | 2,456 |
(1) Capital expenditure amounts are stated on an accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis. (2) During the three-month period ended August 3, 2025, accelerated depreciation expense totaling $22,000 related to the upholstery segment and was classified within restructuring credit in the Consolidated Statements of Net Loss. The accelerated depreciation expense pertained to the shortening of useful lives of equipment related to the consolidation of distribution activities from our Burlington, North Carolina facility to the manufacturing and distribution center located in Stokesdale, North Carolina. (3) During the three-month period ended July 28, 2024, accelerated depreciation expense totaling $875,000 related to the bedding segment and was classified within restructuring expense in the Consolidated Statements of Net Loss. The accelerated depreciation expense related to the shortening of useful lives of equipment associated with the closure of our operations located in Quebec, Canada.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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