Culp (CULP) said Thursday that it will combine its upholstery fabrics and home fashions operating divisions into a single business to optimize operations and streamline costs.
The company said the combination includes the closure of a leased facility in Burlington, North Carolina that is operated by its upholstery fabrics division. Culp estimates the combination to yield about $3 million in annualized efficiency improvements and cost reduction benefits.
As part of the business integration, Culp said it named Mary Beth Hunsberger, formerly president of the Culp Upholstery Fabrics division, as its chief operating officer.
Shares were up 3.5% in recent trading.
Price: 3.91, Change: +0.13, Percent Change: +3.54
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。