Sep. 3—HIGH POINT — Culp plans to move its High Point mattress cover manufacturing operation with its approximately 70 employees to its facility in Stokesdale.

Senior Vice President and Chief Human Resources Officer Teresa Huffman said the company plans to transition out of its cut-and-sew location at 1150 Silver Court by the time its lease expires in January.

Culp has had a presence at this south High Point building for more than 30 years, but decided to consolidate the operation there with its fabric production and distribution facility in Stokesdale, Huffman said.

"It's an efficient move to do that," she said. "Of course, the overriding thing is, it's a really good move for our associates as well. Our employees are able to have their jobs, just in a different location."

Headquartered in High Point, Culp, which is one of the world's largest manufacturers and marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture, this week reported a net loss of $5.7 million for the quarter that ended July 31.

The company reported that its mattress fabrics sales were down 31.8% and its upholstery fabrics sales down 16.9% compared with the first quarter of last year.

It cited soft consumer demand made worse by inflation and an excess of inventory as contributing to the financial results.

The consolidation move of the cut-and-sew operation was cited by Culp as a cost-control measure in its earnings press release.

It's been in High Point for about six years. Before that, the Silver Court facility was used for knitting operations.

The Stokesdale plant, which is about 30 miles north, has about 320 employees.

"We just announced to our folks a couple days ago that we're making this move, and thus far, the reaction has been very positive," Huffman said. "Our manufacturing is still going to be concentrated in Guilford County."

A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last two months, and at least one strategist believes that the market won’t be testing those lows again this year. JPMorgan's Jason Hunter believes that inflation may have peaked, and that the upcoming CPI report will provide additional evidence of that. “We

As we close in on the final quarter of 2022, investors are looking for an answer to one question: was June’s low the bottom for stocks, or do they have more room to fall? It’s a serious question, and there may be no easy answer. Markets are facing a series of headwinds, from the high inflation and rising interest rates that we’ve grown familiar with to an increasingly strong dollar that will put pressure on the upcoming Q3 earnings. Weighing in on current conditions from Charles Schwab, the $8 t

Berkshire Hathaway is on pace to collect $6.07 billion in dividend income over the next 12 months. Just five holdings will account for 71% of total payouts.

The old saying “different strokes for different folks” certainly rings true in the stock market. Some investors prefer growth stocks like Tesla Inc. that are volatile but have produced years of outstanding appreciation. Other folks prefer less volatile stocks like Johnson & Johnson whose growth may be slower but also add dividends of 2% to 3% annually to the total performance. In addition, there are income investors, who strictly look for stocks that will provide high-yield dividends year after

After a scorching rebound between roughly mid-June and mid-August, the broader stock market has taken a turn as the economy begins to show signs of weakening. Long-term investors are no strangers to economic cycles. Illinois Tool Works (NYSE: ITW), Caterpillar (NYSE: CAT), and Celanese (NYSE: CE) are three dividend stocks that are down big off their highs.

Cathie Wood became a growth-investing legend in 2020, but that was two long years ago. The co-founder, CEO, and chief stock picker for the Ark Invest family of exchange-traded funds (ETFs) has been struggling since her breed of disruptive growth stocks corrected sharply starting last year, but she's not altering her approach. Wood is still adding to some of her top growth stocks, even as they continue to sell off.

Digital World stretched its vote deadline after landing a $2.8 million deposit in its trust account from a company controlled by DWAC's CEO.

A CBS News investigation found credit card companies initially resisted the proposal.

A closely watched bond-market gauge of near-term inflation expectations has fallen below the Federal Reserve's 2% target for the first time in two years.

Indicators that investors use to gauge the health of the U.S. stock market have taken a turn for the worse, fueling worries that the benchmark index may revisit its mid-June bear market low. The S&P 500 is down 7% since mid-August following a sharp summer rally, battered by expectations that the Federal Reserve will raise rates higher than previously anticipated in its fight to bring down consumer prices from their 40-year highs. "I had to downgrade the market technically, given how severe the decline has been over the last three weeks," said John Kolovos, chief technical strategist at Macro Risk Advisors.

When it comes to investing in stocks, historical performance over several years can often provide a glimpse into the future prospects of a company. While there’s no guarantee the company will continue performing in the same manner, it’s far more likely that a profitable company will remain a winner over the next five years than one that has negative earnings per share (EPS). For real estate investment trust (REIT) stocks, total returns include appreciation and dividend payments. While some inves

Some of the top billionaires in the world may not be bullish on Bitcoin now, but they might regret that decision later.

A regulatory filing offers details about Laxman Narasimhan's compensation ahead of his move to the Seattle coffee giant.

Shares of Medical Properties Trust (NYSE: MPW), Annaly Capital Management (NYSE: NLY), and Enterprise Products Partners (NYSE: EPD) offer yields that are way above average. Medical Properties Trust is a real estate investment trust (REIT) that owns heaps of hospitals in the U.S. and nine other countries across four continents.

Morgan Stanley analyst Kristine Liwag double downgraded shares of Spirit AeroSystems to Sell from Buy, skipping the Hold rating entirely.

In this article, we will look at 10 stocks that Jim Cramer is talking about in September. If you want to explore more stocks that journalist investor, Jim Cramer, is talking about in September, you can also take a look at Jim Cramer is Talking About These 5 Stocks in September. Jim Cramer has acquired […]

These passive-income powerhouses, with yields ranging from 4% to 7.2%, are perfectly positioned to help investors navigate uncertain economic waters.

Americans traveling outside the US will find that they are about 14% than they were at the beginning of the year.

Former president Donald Trump's website Truth Social is barreling toward a financial cliff that could see its main lifeline disappear. A Trump-allied investment company, Digital World Acquisition Corp., asked shareholders this week to approve a one-year extension for its merger with Trump's company while it fends off multiple federal investigations.Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. But at a special meeting Tuesday, the

Vale and Zim Integrated Shipping Services sport ultra-high dividend yields and compelling long-term valuations.