v3.25.2
CONSOLIDATED STATEMENTS OF NET LOSS - USD ($)
3 Months Ended
Aug. 03, 2025
Jul. 28, 2024
Income Statement [Abstract]    
Net sales $ 50,691,000 $ 56,537,000
Cost of sales (43,463,000) (51,461,000)
Gross profit 7,228,000 5,076,000
Selling, general and administrative expenses (9,119,000) (9,296,000)
Restructuring credit (expense) [1],[2] 3,508,000 (2,631,000)
Income (loss) from operations 1,617,000 (6,851,000)
Interest expense (183,000) (28,000)
Interest income 235,000 262,000
Other expense (531,000) (404,000)
Income (loss) before income taxes 1,138,000 (7,021,000)
Income tax expense (1,369,000) (240,000)
Net loss $ (231,000) $ (7,261,000)
Net loss per share - basic $ (0.02) $ (0.58)
Net loss per share - diluted $ (0.02) $ (0.58)
Average shares outstanding, basic 12,570,000 12,470,000
Average shares outstanding, diluted 12,570,000 12,470,000
[1] 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.
[2] 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.