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OTHER ASSETS

8.	OTHER ASSETS

A summary of other assets follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
customer relationships, net	$	2,839		664
tradename		683		—
non-compete agreement, net		753		828
cash surrender value – life		393		376
other		564		526

	$	5,232		2,394

Customer Relationships

A summary of the change in the carrying amount of our customer relationships follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	664			715			766
acquisition of assets (note 2)		2,247						—
amortization expense		(72	)		(51	)		(51	)
loss on impairment		—			—			—

ending balance	$	2,839			664			715

In connection with our asset purchase agreement with Read (see note 2) on April 1, 2018, we purchased certain customer relationships. We recorded these customer relationships at fair market value totaling $2.2 million based on a multi-period excess earnings valuation model. These customer relationships will be amortized on a straight-line basis over their nine-year useful life.

Additionally, we have customer relationships from a prior acquisition with a carrying amount of $613,000 at April 29, 2018. These customer relationships are being amortized on a straight-line basis over their seventeen-year useful life.

The gross carrying amount of our customer relationships was $3.1 million and $868,000 at April 29, 2018 and April 30, 2017, respectively. Accumulated amortization for these customer relationships was $276,000 and $204,000 at April 29, 2018 and April 30, 2017, respectively.

The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2019 - $301,000; FY 2020 - $301,000; FY 2021 - $301,000; FY 2022 - $301,000; FY 2023 - $301,000; and Thereafter - $1,334,000.

The weighted average amortization period for our customer relationships is 9.6 years as of April 29, 2018.

Tradename

In connection with the asset purchase agreement noted above, we purchased the tradename associated with Read. We recorded this Tradename at fair market value totaling $683,000 based on the relief from royalty method. This tradename was determined to have an indefinite useful life and, therefore, is not being amortized.

Non-Compete Agreement

A summary of the change in the carrying amount of our non-compete agreement follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	828			903			978
amortization expense		(75	)		(75	)		(75	)
loss on impairment		—			—			—

ending balance	$	753			828			903

We have a non-compete agreement from a prior acquisition that is being amortized on a straight line basis over the fifteen year life of the agreement.

The gross carrying amount of this non-compete agreement was $2.0 million at April 29, 2018 and April 30, 2017, respectively. Accumulated amortization for this non-compete agreement was $1.3 million and $1.2 million at April 29, 2018 and April 30, 2017, respectively.

The remaining amortization expense for the next five years and thereafter follows: FY 2019 - $75,000; FY 2020 - $75,000; FY 2021 - $75,000; FY 2022 - $75,000; FY 2023 - $75,000, and Thereafter - $378,000.

The weighted average amortization period for the non-compete agreement is 10 years as of April 29, 2018.

Cash Surrender Value—Life Insurance

We had one life insurance contract with a death benefit of $1.4 million at April 29, 2018 and April 30, 2017, respectively. Our cash surrender value—life insurance balance of $393,000 and $376,000 at April 29, 2018 and April 30, 2017, respectively, are collectible upon death of the respective insured.

ACCRUED EXPENSES

12 Months Ended

Apr. 29, 2018

ACCRUED EXPENSES

9.	ACCRUED EXPENSES

A summary of accrued expenses follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
compensation, commissions and related benefits	$	6,918		10,188
advertising rebates		750		468
interest		20		51
other		2,400		1,240

	$	10,088		11,947

At April 29, 2018, we had accrued expenses totaling $10.1 million, of which $9.3 million and $763,000 were classified as current accrued expenses and long-term accrued expenses, respectively, in the accompanying Consolidated Balance Sheets. As of April 30, 2017, we had accrued expense totaling $11.9 million, all of which were classified as current accrued expenses, in the accompanying Consolidated Balance Sheets.

INCOME TAXES

12 Months Ended

Apr. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

INCOME TAXES

10.

INCOME TAXES

Income Tax Expense and Effective Income Tax Rate

Total income tax expense was allocated as follows:


(dollars in thousands)	2018		2017			2016
income from operations	$	5,740		7,339			10,963
shareholders’ equity, related to the tax benefit arising from stock based compensation		—		(657	)		(841	)

	$	5,740		6,682			10,122

Income tax expense attributable to income from operations consists of:


(dollars in thousands)	2018			2017			2016
current
federal	$	(1,367	)		109			—
state		9			13			6
2017 Tax Cuts and Jobs Act		4,854			—			—
foreign		4,726			5,981			6,765
foreign – reversal of uncertain tax position		—			(3,431	)		—

		8,222			2,672			6,771

deferred
federal		4,295			404			(1,205	)
state		112			54			305
2017 Tax Cuts and Jobs Act (1)		(6,903	)		—			—
undistributed earnings – foreign subsidiaries		(195	)		(101	)		(1,129	)
U.S. operating loss carryforwards		—			3,630			5,467
foreign		93			734			1,086
valuation allowance (1)		116			(54	)		(332	)

		(2,482	)		4,667			4,192

	$	5,740			7,339			10,963

(1)	The income tax benefit of $6,903 includes a charge of $4,550 for the establishment of a valuation allowance against U.S. foreign tax credits that are more-likely-than not to be realized as a result of the 2017 Tax Cuts and Jobs Act.

Income (loss) before income taxes related to our foreign and U.S. operations consists of:


(dollars in thousands)	2018		2017			2016
Foreign
China	$	11,036		13,650			14,130
Canada		5,985		4,918			3,647
Poland		—		(19	)		(62	)
Cayman Islands		339		154			—

Total Foreign		17,360		18,703			17,715

United States		9,523		10,993			10,183

	$	26,883		29,696			27,898

The following schedule summarizes the principal differences between the income tax expense at the federal income tax rate and the effective income tax rate reflected in the consolidated financial statements:


	2018			2017			2016
federal income tax rate		30.4	%		34.0	%		34.0	%
tax effects of the 2017 Tax Cuts and Jobs Act		(7.6	)		—			—
tax effects of Chinese foreign exchange (losses) gains		(2.8	)		1.6			4.4
reversal of foreign uncertain income tax position		—			(11.6	)		—
tax effects of stock-based compensation		(1.8	)		—			—
undistributed earnings from foreign subsidiaries		3.7			—			—
other		(0.5	)		0.7			0.9

		21.4	%		24.7	%		39.3	%

Deferred Income Taxes—Overall

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities consist of the following:


(dollars in thousands)	2018			2017
deferred tax assets:
accounts receivable	$	316			447
inventories		2,217			2,196
compensation		3,438			6,222
liabilities and other		117			890
foreign income tax credits – U.S.		5,720			44,917
alternative minimum tax credit – U.S.		—			1,428
property, plant and equipment (1)		226			245
loss carryforwards – U.S.		2,513			3,842
loss carryforwards – foreign		76			73
unrecognized tax benefits – U.S.		—			(3,842	)
valuation allowances		(5,204	)		(536	)

total deferred tax assets		9,419			55,882

deferred tax liabilities:
undistributed earnings on foreign subsidiaries		(4,256	)		(43,978	)
unrecognized tax benefits – U.S.		(380	)		(7,936	)
property, plant and equipment (2)		(4,352	)		(5,546	)
goodwill		(1,046	)		(1,478	)
other		(77	)		(118	)

total deferred tax liabilities		(10,111	)		(59,056	)

Net deferred liabilities	$	(692	)		(3,174	)

(1)	Pertains to the company’s operations located in China.

(2)	Pertains to the company’s operations located in the U.S. and Canada.

Federal and state net operating loss carryforwards were approximately $11.5 million with related future tax benefits of $2.5 million at April 29, 2018. These carryforwards principally expire in fiscal years 2027 through fiscal 2035. Our U.S. foreign income tax credits of $5.7 million will expire 10 years from when the associated earnings and profits from our foreign subsidiaries are repatriated to the U.S.

2017 Tax Cuts and Jobs Act

On December 22, 2017 (the “Enactment Date”), the Tax Cuts and Jobs Act (H.R.1) (the “Tax Act”) was signed into law. The Tax Act contains significant changes to corporate taxation, including (i) the reduction of the corporate income tax rate to 21%, (ii) the acceleration of expensing certain business assets, (iii) a one-time mandatory repatriation tax (the “Transition Tax”) related to the transition of U.S. international tax from a worldwide tax system to a territorial tax system, (iv) limitations on the use of foreign tax credits to reduce the U.S. income tax liability, (v) the repeal of the domestic production activities deduction, (vi) additional limitations on the deductibility of interest expense and executive compensation, and (vii) the creation of new minimum taxes such as the base erosion anti-abuse tax (“BEAT”) and Global Intangible Low Taxed Income (“GILTI”) tax.

The corporate income tax rate reduction is effective as of January 1, 2018. Since we have a fiscal year rather than a calendar year, we are subject to IRS rules relating to transitional income tax rates. As a result, our fiscal 2018 federal statutory rate is a blended income tax rate of 30.4%. For fiscal 2019 and beyond, we will utilize the enacted U.S. federal corporate income tax rate of 21%.

The key impacts of the Tax Act on our financial statements for fiscal 2018 were the re-measurement of our U.S. deferred income tax balances to the new U.S. federal corporate income tax rate and the determination of the income tax effects of the Transition Tax on our accumulated earnings and profits associated with our foreign subsidiaries. While we have not yet completed our assessment of the effects of the Tax Act, we were able to determine reasonable estimates for the impacts of the key items specified above, and thus we reported provisional amounts for these items under guidance provided by SEC Staff Accounting Bulletin No. 118 (“SAB 118”). Our estimates may change and revisions to these estimates will be recorded during the measurement period allowed by SAB 118, which is not to extend beyond one year from the Enactment Date.

The provisional estimates related to our U.S. deferred income tax balances and Transition Tax may change due to a variety of factors that include, (i) actual versus estimates of accumulated earnings and profits associated with our foreign subsidiaries, (ii) utilization of our foreign income tax credits, (iii) anticipated guidance from the U.S. Department of Treasury about implementing the Tax Act and (iv) potential guidance from the Securities and Exchange Commission and Financial Accounting Standards Board related to the Tax Act.

In order to determine the effects of the new U.S. federal corporate income tax rate on our U.S. deferred income tax balances, ASC Topic 740 “Income Taxes” (ASC Topic 740), requires the re-measurement of our U.S. deferred income tax balances as of the Enactment Date of the Tax Act, based on income tax rates at which our U.S. deferred income tax balances are expected to reverse in the future. The provisional amount determined for the re-measurement of our U.S. net deferred income taxes was an income tax charge of $2.2 million during fiscal 2018.

The Transition tax is based on our total post-1986 foreign earnings and profits (“E&P”) that were previously deferred from U.S. income tax and applicable income tax rates associated with E&P held in cash and other specified assets (the “aggregate foreign cash position”). Also, E&P was not permanently reinvested prior to the Tax Act. The provisional amount determined for the income tax effects of the Transition Tax was an income tax benefit of $4.3 million during fiscal 2018. This $4.3 million income tax benefit relates to an income tax benefit of $18.0 million for the release of deferred income tax liabilities related to E&P, an income tax benefit of $11.7 million that relates to the reduction in our U.S. Federal income tax rate pursuant to the Tax Act on the effective settlement on an IRS exam related to E&P, partially offset by an income tax charge for the write-off and the establishment of a valuation allowance against our unused foreign tax credits totaling $25.4 million. The Transition Tax may be paid over a period of eight years at the election of the taxpayer and we intend to make this election.

In addition to the above mentioned key impacts of the Tax Act on fiscal 2018, the Tax Act also establishes new tax laws that will be effective for our fiscal 2019 which include the creation of new minimum taxes such as the BEAT and GILTI taxes. We have not yet made a policy election with respect to the accounting treatment of these taxes. We can either account for these taxes as expensed when incurred or factor such amounts in the measurement of our U.S. deferred income taxes. We are currently evaluating our selection of an accounting policy, which will depend, in part, on analyzing our facts to determine what the impact is expected to be under each method.

Deferred Income Taxes – Valuation Allowance

Summary

In accordance with ASC Topic 740, we evaluate our deferred income taxes to determine if a valuation allowance is required. ASC Topic 740 requires that companies assess whether a valuation allowance should be established based on the consideration of all available evidence using a “more likely than not” standard with significant weight being given to evidence that can be objectively verified. Since the company operates in multiple jurisdictions, we assess the need for a valuation allowance on a jurisdiction-by-jurisdiction basis, taking into account the effects of local tax law.

Based on our assessments at April 29, 2018 and April 30, 2017, valuation allowances against our deferred income taxes pertain to the following jurisdictions:


(dollars in thousands)	April 29, 2018		April 30, 2017
U.S. foreign income tax credits	$	4,550		—
U.S. state loss carryforwards and credits		578		464
Polish loss carryforwards		76		72

	$	5,204		536

A summary of the change in the valuation allowances against our deferred income taxes follows:


(dollars in thousands)	2018		2017			2016
beginning balance	$	536		590			922
establishment of valuation allowance (1)		4,550		—			—
change in estimate (2)		118		(54	)		(332	)

ending balance	$	5,204		536			590

(1)	The establishment of this valuation allowance pertains to U.S. foreign tax credits that are more-likely-than not to be realized as a result of the Tax Act.

(2)	Amounts pertain to a change in estimate of the recoverability of certain deferred income tax assets as of the end of the respective prior fiscal year.

Deferred Income Taxes – Undistributed Earnings from Foreign Subsidiaries

In accordance with ASC Topic 740, we assess whether the undistributed earnings from our foreign subsidiaries will be reinvested indefinitely or eventually distributed to our U.S. parent company. ASC Topic 740 requires that a deferred tax liability should be recorded for undistributed earnings from foreign subsidiaries that will not be reinvested indefinitely. Also, we assess the recognition of U.S. foreign income tax credits associated with foreign withholding and income tax payments and whether it is more-likely-than-not that our foreign income tax credits will not be realized. If it is determined that any foreign income tax credits need to be recognized or it is more-likely-than-not our foreign income tax credits will not be realized, an adjustment to our provision for income taxes will be recognized at that time.

During the fiscal 2018, the Tax Act imposed a Transition Tax on our undistributed E&P associated with our foreign subsidiaries. The Tax Act required us to determine E&P as of November 2, 2017 and December 31, 2017 (the “Measurement Dates”), in which the greater E&P amount of the Measurement Dates is subject to the Transition Tax. As a result, we had provisional estimates of E&P prior to participation exemption totaling $156.7 million subject to the Transition Tax and provisional estimates totaling $42.2 million for foreign tax credits that could be used to reduce the Transition Tax subject to certain limitations as defined in the Tax Act.

For fiscal 2019 and beyond, the Tax Act allows a U.S. corporation a 100% dividend received deduction for E&P received from a 10% owned foreign corporation. Therefore, a deferred tax liability will only be required for withholding taxes that are incurred by our foreign subsidiaries at the time E&P is distributed. As a result, at April 29, 2018, we recorded a deferred tax liability of $4.3 million for withholding taxes on undistributed E&P from our foreign subsidiaries.

Uncertainty in Income Taxes

Overall

In accordance with ASC Topic 740, an unrecognized income tax benefit for an uncertain income tax position can be recognized in the first interim period if the more-likely-than-not recognition threshold is met by the reporting period, or is effectively settled through examination, negotiation, or litigation, or the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired. If it is determined that any of the above conditions occur regarding our uncertain income tax positions, an adjustment to our unrecognized income tax benefit will be recorded at that time.

The following table sets forth the change in the company’s unrecognized income tax benefit:


(dollars in thousands)	2018			2017			2016
beginning balance	$	12,245			14,897			14,141
increases from prior period tax positions		350			854			454
decreases from prior period tax positions (1)		(11,751	)		(3,506	)		(77	)
increases from current period tax positions		—			—			379

ending balance	$	844			12,245			14,897

(1)

The $11.8 million reduction in our unrecognized income tax benefits during fiscal 2018 is mostly associated with the reduction in our U.S. Federal income tax rate pursuant to the Tax Act on the effective settlement on an IRS exam. The $3.5 million reduction in our unrecognized income tax benefits during fiscal 2017 is due to a lapse of applicable statute of limitations in a foreign jurisdiction.

At April 29, 2018, we had $844,000 of total gross unrecognized tax benefits, of which $465,000 would favorably affect the income tax rate in future periods. At April 30, 2017, we had $12.2 million of total gross unrecognized tax benefits, of which $467,000 would favorably affect the income tax rate in future periods.

At April 29, 2018, we had $844,000 of total gross unrecognized tax benefits, of which $379,000 and $465,000 were classified as net non-current deferred income taxes and income taxes payable-long-term, respectively, in the accompanying Consolidated Balance Sheets. At April 30, 2017 we had $12.2 million of total gross unrecognized tax benefits, of which $11.8 million and $467,000 were classified as net non-current deferred income taxes and income taxes payable- long-term, respectively, in the accompanying Consolidated Balance Sheets.

We elected to classify interest and penalties as part of income tax expense. At April 29, 2018 and April 30, 2017, the gross amount of interest and penalties due to unrecognized tax benefits was $40,000 and $50,000, respectively.

Our gross unrecognized income tax benefit of $844,000 at April 29, 2018, relates to income tax positions for which significant change is currently not expected within the next year. This amount primarily relates to double taxation under applicable income tax treaties with foreign tax jurisdictions. United States federal income tax returns filed by us remain subject to examination for income tax years 2017 and subsequent. Canadian federal income tax returns filed by us remain subject to examination for income tax years 2014 and subsequent. Canadian provincial (Quebec) income tax returns filed by us remain subject to examination for income tax years 2016 and subsequent. Income tax returns associated with our operations located in China are subject to examination for income tax year 2013 and subsequent.

Income Tax Exams

During the third quarter of fiscal 2017, Revenue Quebec commenced an examination of our Canadian provincial (Quebec) income tax returns for fiscal years 2013 through 2015. This examination was completed during the fourth quarter of fiscal 2018 with final adjustments totaling $4,000.

During the fourth quarter of fiscal 2016, the Internal Revenue Service commenced and examination of our U.S. Federal income tax returns for fiscal years 2014 through 2016. This examination was effectively settled during the fourth quarter of fiscal 2018 with no adjustment.

Income Taxes Paid

Income tax payments, net of income tax refunds, were $4.0 million, $5.5 million, and $6.7 million during fiscal years 2018, 2017, and 2016, respectively.

LINES OF CREDIT

12 Months Ended

Apr. 29, 2018

Debt Disclosure [Abstract]

LINES OF CREDIT

11.

LINES OF CREDIT

Revolving Credit Agreement –United States

Our credit agreement with Wells Fargo Bank N.A. (“Wells Fargo”) provides a revolving loan commitment of $30 million. Interest was charged at a rate (applicable interest rate of 3.36% and 2.45% at April 29, 2018 and April 30, 2017, respectively) as a variable spread over LIBOR based on our ratio of debt to EBITDA. The Credit Agreement contains certain financial and other covenants as defined in the agreement and is set to expire on August 15, 2018.

The purpose of our revolving credit line is to support potential short term cash needs in different jurisdictions within our global operations, mitigate our risk associated with foreign currency exchange rate fluctuations, and support repatriation of earnings and profits from our foreign subsidiaries to the U.S. for various strategic purposes.

Outstanding borrowings are secured by a pledge of 65% of the common stock of Culp International Holdings, Ltd. (our subsidiary located in the Cayman Islands), as required by the Credit Agreement. There were no borrowings outstanding under the Credit Agreement at April 29, 2018 and April 30, 2017, respectively.

At April 29, 2018 and April 30, 2017, there were $250,000 in outstanding letters of credit (all of which related workers compensation) provided by the Credit Agreement.

Effective August 1, 2016, we entered into a Third Amendment to our Credit Agreement which allows us to issue letters of credit not to exceed $7.5 million. On August 3, 2016, we issued a $5.0 million letter of credit ($1.25 million was outstanding at April 29, 2018 in addition to the $250,000 letter of credit noted above) for the construction of a new building associated with our mattress fabrics segment (see Note 12 for further details). This $1.25 million outstanding letter of credit automatically expired on May 15, 2018.

Revolving Credit Agreement—China

We have an unsecured credit agreement associated with our operations in China that provides for a line of credit up to 40 million RMB ($6.3 million USD at April 29, 2018) and is set to expire on March 2, 2019. This agreement has an interest rate determined by the Chinese government and there were no outstanding borrowings as of April 29, 2018 and April 30, 2017.

Overall

Our loan agreements require, among other things, that we maintain compliance with certain financial covenants. At April 29, 2018, the company was in compliance with these financial covenants.

Interest paid during fiscal years 2018, 2017, and 2016 totaled $181,000, $114,000, and $95,000, respectively.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Apr. 29, 2018

COMMITMENTS AND CONTINGENCIES

12.

COMMITMENTS AND CONTINGENCIES

Operating Leases- Overall

We lease certain office, manufacturing and warehouse facilities and equipment under noncancellable operating leases. Lease terms related to real estate primarily range from one to five years with renewal options for additional periods ranging up to twelve years. The leases generally require the company to pay real estate taxes, maintenance, insurance and other expenses. Rental expense for operating leases was $3.0 million in fiscal 2018, $2.9 million in fiscal 2017, and $3.0 million in fiscal 2016. Future minimum rental commitments for noncancellable operating leases are $2.6 million in fiscal 2019; $1.9 million in fiscal 2020; $1.1 million in fiscal 2021; $181,000 in fiscal 2022; and $10,000 in fiscal 2023. Management expects that in the normal course of business, these leases will be renewed or replaced by other operating leases.

Operating Leases- Related Parties

In connection with an asset purchase agreement with Read (see note 2) on April 1, 2018, we assumed the lease of the building where the operation is located. This lease is with an executive of Read. The lease agreement requires monthly payments of $18,000 per month for a term of 3 years, expiring on March 31, 2021. The lease contains four successive options to renew the lease with each renewal period being three years at prices determined at the date of renewal as defined in the agreement. Rents paid to the executive of Read totaled $18,000 during fiscal 2018.

Additionally, we lease a plant facility associated with our mattress fabrics segment from a partnership owned by certain shareholders and officers of the company and their immediate families. Currently, this facility is being leased on a month to month basis at an amount of $13,000 per month. Rents paid to entities owned by certain shareholders and officers of the company and their immediate families totaled $156,000 in fiscal 2018, 2017, and 2016, respectively.

Other Litigation

The company is involved in legal proceedings and claims which have arisen in the ordinary course of business. Management has determined that it is not reasonably possible that these actions, when ultimately concluded and settled, will have a material adverse effect upon the financial position, results of operations, or cash flows of the company.

Accounts Payable – Capital Expenditures

At April 29, 2018, we had total amounts due regarding capital expenditures totaling $1.8 million, of which $1.4 million is financed and pertains to completed work for the construction of a new building (see below). The total $1.8 million amount is required to be paid in full in fiscal 2019.

At April 30, 2017, we had total amounts due regarding capital expenditures totaling $6.1 million, of which $5.1 million was financed and pertained to completed work for the construction of a new building (see below). Of the total $6.1 million, $4.8 million and $1.3 million were required to be paid in fiscal 2018 and 2019, respectively.

Purchase Commitments—Capital Expenditures

At April 29, 2018, we had open purchase commitments to construct a building and equipment for our mattress fabrics segment totaling $3.4 million. The $3.4 million includes $1.4 million (all of which represents completed work) associated with the construction of a new building noted below.

Effective May 16, 2016, we entered into an agreement with a contractor to construct a new building located in North Carolina that expands our distribution capabilities and office space at a cost of $11.3 million. This agreement required an installment payment of $1.9 million in April 2016, $4.3 million in fiscal 2017, $3.7 million in fiscal 2018, and $1.4 million in fiscal 2019 (which was paid in May 2018). Interest was charged on the outstanding installment payments at a rate of $2.25% plus the current 30 day LIBOR rate. Also, we were required to issue a letter of a credit totaling $5.0 million with the contractor being the beneficiary.

In addition to the interest that was charged on the outstanding installment payments, there was a 0.1% unused fee calculated on the balance of the $5.0 million letter of credit less the amount outstanding per month (see note 11 for further details).

This new building was placed into service July 2017 (our first quarter of fiscal 2018).

STOCK-BASED COMPENSATION

12 Months Ended

Apr. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

13.

STOCK-BASED COMPENSATION

Equity Incentive Plan Description

On September 16, 2015, our shareholders approved an equity incentive plan entitled the Culp, Inc. 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan updated and replaced our 2007 Equity Incentive Plan (the “2007 Plan”) as the vehicle for granting new equity based awards substantially similar to those authorized under the 2007 Plan. In general, the 2015 Plan authorizes the grant of stock options intended to qualify as incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, and other equity and cash related awards as determined by our Compensation Committee. An aggregate of 1,200,000 shares of common stock were authorized for issuance under the 2015 Plan, with certain sub-limits that would apply with respect to specific types of awards that may be issued as defined in the 2015 Plan. In connection with the approval of the 2015 Plan, no further awards will be granted under the 2007 Plan, but outstanding awards under the 2007 Plan will be settled in accordance with their terms.

At April 29, 2018, there were 978,908 shares available for future equity based grants under the company’s 2015 Plan.

Stock Options

Under our 2007 Plan, employees, outside directors, and others associated with the company were granted options to purchase shares of common stock at the fair market value on the date of grant.

The following tables summarize stock option activity during fiscal 2018, 2017, and 2016:


				2018					2017					2016
	Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price
outstanding at beginning of year		15,600		$	7.14		83,600		$	8.37		140,100		$	6.49
granted		—			—		—			—		—			—
exercised		(15,600	)		7.14		(68,000	)		8.65		(54,500	)		3.68
canceled/expired		—			—		—			—		(2,000	)		4.59

outstanding at end of year		—			—		15,600			7.14		83,600			8.37

At April 29, 2018, there were no option shares of common stock outstanding and exercisable. Therefore, there was no unrecognized compensation cost related to incentive stock option awards at April 29, 2018. No compensation expense was recorded for incentive or non-qualified stock options in fiscal 2018, 2017 and 2016 as all stock option awards were fully vested prior to fiscal 2016.

The aggregate intrinsic value for options exercised was $393,000, $1.7 million, and $1.3 million, in fiscal 2018, 2017, and 2016, respectively.

Time-Based Restricted Stock Awards

The following table summarizes the time vested restricted stock activity during fiscal years 2018, 2017, and 2016:


	2018 Shares			2017 Shares		2016 Shares
outstanding at beginning of year		1,200			—		—
granted		1,200			1,200		—
vested		(1,200	)		—		—

outstanding at end of year		1,200			1,200		—

The following table summarizes information related to our grants of time-based restricted stock awards associated with a key member of management during fiscal years 2018 and 2017:


Date of Grant	(1) Restricted Stock Awarded		(2) Price Per Share		Vesting Period
July 13, 2017		1,200	$	32.50		11 months
June 14, 2016		1,200	$	28.00		11 months

During the first quarter of fiscal 2018, 1,200 shares of common stock associated with the June 14, 2016 grant vested and had a weighted average fair value of $34,000 or $28 per share.

At April 29, 2018, the remaining unrecognized compensation cost related to our time vested restricted common stock units was $5,000, which is expected to be recognized over the next 1.5 months.

We recorded compensation expense of $38,000 and $29,000 within selling, general, and administrative expense for time vested restricted stock units in fiscal 2018 and 2017, respectively. No compensation expense was recorded for time vested restricted stock awards in fiscal 2016 as all time vested restricted stock awards granted prior to fiscal 2016 were fully vested at the end of fiscal 2015.

Performance Based Restricted Stock Units

We have granted performance based restricted stock units to executives and other key members of management and a non-employee which could earn up to a certain number of shares of common stock if certain performance targets are met as defined in the related restricted stock unit agreements. Our performance based restricted stock units granted to key members of management were measured based on the fair market value on the date of grant. Our performance based restricted stock units granted to a non-employee were measured based on the fair market value at the earlier date of when the performance criteria are met or the end of the reporting period.

Executive Management

On July 13, 2017, we granted performance-based restricted stock units to members of executive management (NEOs) which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit agreements. The number of shares of common stock that are earned based on the performance targets that have been achieved will be adjusted based on a market-based total shareholder return component as defined in the related restricted stock unit agreements.

Compensation cost is measured based on the fair market value on the date of grant (July 13, 2017). The fair market value per share was determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock for the performance-based components.

The following table provides assumptions used to determine the fair market value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant of July 13, 2017:


Closing price of our common stock	$	32.50
Expected volatility of our common stock		31.0	%
Expected volatility of peer companies		16.5	%
Risk-free interest rate		1.56	%
Dividend yield		1.66	%
Correlation coefficient of peer companies		0.46

On July 14, 2016 and July 15, 2015, we granted performance-based restricted stock units to NEOs which could earn up to a certain number of shares of common stock if certain performance targets were met over a three-fiscal year performance period as defined in the related restricted stock unit agreements. These awards were measured based on the fair market value (closing price of our common stock) on the date of grant. No market-based total shareholder return component was included in these awards.

Other Key Employees and a Non-Employee

We granted performance-based restricted stock units which could earn up to a certain number of shares of common stock if certain performance targets are met over a three-fiscal year performance period as defined in the related restricted stock unit agreements. Our performance based restricted stock units granted to other key employees were measured based on the fair market value (the closing price of our common stock) on the date of grant. Our performance based restricted stock units granted to a non-employee were measured based on the fair market value (the closing price of our common stock) at the earlier date of when the performance criteria are met or the end of the reporting period. No market-based total shareholder return component was included in these awards.

Overall

The following table summarizes information related to our grants of performance based restricted stock units associated with NEOs and key employees that are currently unvested:


Date of Grant	(3) Restricted Stock Units Awarded		Price Per Share			Vesting Period
July 13, 2017 (1)		78,195	$	31.85	(4)		3 years
July 13, 2017 (2)		44,000	$	32.50	(5)		3 years
July 14, 2016 (1) (2)		107,880	$	28.00	(5)		3 years
July 15, 2015 (1) (2)		107,554	$	32.23	(5)		3 years

(1)	Performance-based restricted stock units awarded to NEOs.

(2)	Performance-based restricted stock units awarded to key employees.

(3)	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(4)

Price per share represents the fair market value per share ($0.98 per $1 or a reduction of $0.65 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($32.50) for the performance-based components of the performance-based restricted stock units granted to our NEOs on July 13, 2017.

(5)	Price per share represents the closing price of our common stock on the date of grant.

The following table summarizes information related to our grants of performance-based restricted stock units associated with a non-employee that are currently unvested:


Date of Grant	(1) Restricted Stock Units Awarded		Price Per Share			Vesting Period
July 13, 2017		10,200	$	30.10	(2)		3 years
July 14, 2016		11,549	$	30.10	(2)		3 years
July 15, 2015		10,364	$	30.10	(2)		3 years

(1)	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(2)	The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on April 29, 2018, the end of our reporting period.

The following table summarizes information related to our performance based restricted stock units that vested during the fiscal 2018, 2017, and 2016:


Fiscal Year	Common Stock Shares Vested		(3) Weighted Average Fair Value		Price Per Share
Fiscal 2018 (1)		102,845	$	1,820	$	17.70	(4)
Fiscal 2018 (2)		16,000	$	520	$	32.50	(5)
Fiscal 2017 (1)		37,192	$	637	$	17.12	(4)
Fiscal 2017 (2)		12,000	$	345	$	28.77	(5)
Fiscal 2016 (1)		115,855	$	1,183	$	10.21	(4)

(1)	NEOs and key employees.

(2)	Non-employee

(3)	Dollar amounts are in thousands.

(4)	Price per share represents closing price of our common stock on the date of grant.

(5)	The respective grants vested during the first quarter of fiscal 2018 or 2017, respectively. Accordingly, the price per share represents the closing price of our common stock on the date the award vested.

We recorded compensation expense of $2.0 million, $3.2 million and $2.6 million within selling, general, and administrative expense associated with our performance based restricted stock units for fiscal 2018, 2017, and 2016, respectively. Compensation cost is recorded based on an assessment each reporting period of the probability that certain performance goals will be met during the vesting period. If performance goals are not probable of occurrence, no compensation cost will be recognized and any recognized compensation cost would be reversed.

At April 29, 2018, the remaining unrecognized compensation cost related to the performance based restricted stock units was $1.3 million, which is expected to be recognized over a weighted average vesting period of 1.3 years.

Common Stock Awards

The following table summarizes information related to our grants of common stock to our outside directors during fiscal 2018, 2017, and 2016:


Date of Grant	Common Stock Awarded		(1) Price Per Share		Vesting Period
October 2, 2017		4,800	$	33.20		Immediate
October 3, 2016		4,800	$	29.80		Immediate
October 1, 2015		3,000	$	31.77		Immediate

(1)	Price per share represents closing price of our common stock on the date of grant.

We recorded $159,000, $143,000, and $95,000, of compensation expense within selling, general, and administrative expense for these common stock awards for fiscal 2018, 2017, and 2016, respectively.

Fair Value of Financial Instruments

12 Months Ended

Apr. 29, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

14.

Fair Value of Financial Instruments

ASC Topic 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the company’s assumptions (unobservable inputs). Determining where an asset or liability falls within that hierarchy depends on the lowest level input that is significant to the fair value measurement as a whole. An adjustment to the pricing method used within either level 1 or level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy. The hierarchy consists of three broad levels as follows:

Level 1 – Quoted market prices in active markets for identical assets or liabilities;

Level 2 – Inputs other than level 1 inputs that are either directly or indirectly observable, and

Level 3 – Unobservable inputs developed using the company’s estimates and assumptions, which reflect those that market participants would use.

Recurring Basis

The following table presents information about assets and liabilities measured at fair value on a recurring basis:

Fair value measurements at April 29, 2018 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Premier Money Market Fund

6,492

N/A

6,492

Low Duration Bond Fund

1,085

N/A

1,085

Intermediate Term Bond Fund

747

N/A

747

Strategic Income Fund

619

N/A

619

Large Blend Fund

402

N/A

402

Growth Allocation Fund

169

N/A

169

Moderate Allocation Fund

113

N/A

113

Other

150

N/A

150

Liabilities:

EURO Foreign Exchange Contract

N/A

Fair value measurements at April 30, 2017 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Premier Money Market Fund

4,811

N/A

4,811

Low Duration Bond Fund

1,081

N/A

1,081

Intermediate Term Bond Fund

751

N/A

751

Strategic Income Fund

611

N/A

611

Large Blend Fund

365

N/A

365

Growth Allocation Fund

126

N/A

126

Moderate Allocation Fund

N/A

Other

N/A

Liabilities:

None

N/A

Our EURO foreign exchange contract was recorded at a fair value provided by our bank and is classified within level 2 of the fair value hierarchy. Most derivative contracts are not listed on an exchange and require the use of valuation models. In accordance with ASC Topic 820, we attempted to maximize the use of observable inputs used in the valuation models used to determine the fair value of this contract. Derivative contracts valued based on valuation models with significant unobservable inputs and that are not actively traded, are classified within level 3 of the fair value hierarchy.

The determination of where an asset or liability falls in the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter based on various factors and it is possible that an asset or liability may be classified differently from quarter to quarter. However, we expect that changes in classifications between different levels will be rare.

Nonrecurring Basis

At April 29, 2018, we had no assets that were required to be measured at fair value on a nonrecurring basis other than the assets acquired from Read (see note 2) that were acquired at fair value:

Fair value measurements at April 29, 2018 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Customer Relationships

N/A

2,247

Goodwill

N/A

2,107

Inventory

N/A

1,128

Tradename

N/A

683

Equipment

N/A

379

Liabilities:

None

N/A

These customer relationships were recorded at fair market value using a multi-period excess earnings valuation model that used significant unobservable inputs and were classified as level 3. The tradename was recorded at fair market value using the royalty from relief method that used significant unobservable inputs and were classified as level 3.

Additionally, we acquired certain current assets such as accounts receivable and other assets and assumed certain liabilities such as deferred revenue, accounts payable and accrued expenses. Based on the nature of these items and their short maturity, the carrying amount of these items approximated their fair values. See note 2 for the allocation of the acquisition cost to the assets acquired and liabilities assumed based on their fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVES

12 Months Ended

Apr. 29, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES

15. DERIVATIVES

During the fourth quarter, we entered into a EURO foreign exchange contract to mitigate the risk of foreign exchange rate fluctuations associated with certain capital expenditures. The contract effectively converts our EURO capital expenditures at a fixed EURO foreign exchange rate compared with the United States dollar of 1.263 and is due to expire in August 2018.

In accordance with the provisions of ASC Topic 815, Derivatives and Hedging, our EURO foreign exchange contract was designated as a cash flow hedge, with the fair value of these financial instruments recorded in other assets and changes in fair value recorded in accumulated other comprehensive income. ASC Topic 815 requires disclosure of gains and losses on derivative instruments in the following tabular format.

(Amounts in Thousands)

Fair Values of Derivative Instruments

April 29, 2018

April 30, 2017

Derivatives designated as hedging instruments under ASC Topic 815

Balance

Sheet

Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Euro Foreign Exchange Contract

Accrued Expenses

N/A

—


Derivatives in ASC Topic 815 Net Investment Hedging Relationships	Amt of Gain (Loss) (net of tax) Recognized in OCI on Derivative (Effective Portion) and recorded in Accrued Expenses at Fair Value							Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)		Amount of Gain (loss) (net of tax) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	2018			2017		2016				2018		2017		2016				2018		2017		2016

EURO Foreign Exchange Contract	$	(55	)	$	—	$	—		Other Exp	$	—	$	—	$	—		Other Exp	$	—	$	—	$	—

NET INCOME PER SHARE

12 Months Ended

Apr. 29, 2018

Earnings Per Share [Abstract]

NET INCOME PER SHARE

16.

NET INCOME PER SHARE

Basic net income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income per share uses the weighted-average number of shares outstanding during the period plus the dilutive effect of stock-based compensation calculated using the treasury stock method. Weighted average shares used in the computation of basic and diluted net income per share are as follows:


(in thousands)	2018		2017		2016
weighted-average common shares outstanding, basic		12,431		12,312		12,302
dilutive effect of stock-based compensation		202		206		173

weighted-average common shares outstanding, diluted		12,633		12,518		12,475

All options to purchase shares of common stock were included in the computation of diluted net income for fiscal years 2018, 2017, and 2016, as the exercise price of the options was less than the average market price of common shares.

BENEFIT PLANS

12 Months Ended

Apr. 29, 2018

Postemployment Benefits [Abstract]

BENEFIT PLANS

17.

BENEFIT PLANS

Defined Contribution Plans

The company has defined contribution plans which cover substantially all employees and provides for participant contributions on a pre-tax basis and matching contributions by the company for its U.S. and Canadian operations. Our contributions to the plan were $1.1 million, $924,000, and $843,000 during fiscal years 2018, 2017, and 2016, respectively.

Deferred Compensation Plan

We have a nonqualified deferred compensation plan (the “Plan”) covering officers and certain key members of management. The Plan provides for participant deferrals on a pre-tax basis that are subject to annual deferral limits by the IRS and non-elective contributions made by the company. Participant deferrals and non-elective contributions made by the company are immediately vested.

Our contributions to the Plan were $192,000, $185,000 and $180,000 in fiscal years 2018, 2017, and 2016, respectively. Our nonqualified deferred compensation plan liability of $7.4 million and $5.5 million at April 29, 2018 and April 30, 2017, were recorded in deferred compensation in the 2018 and 2017 Consolidated Balance Sheets, respectively.

We have a Rabbi Trust (the “Trust”) to set aside funds for the participants of the Plan and enable the participants to direct their contributions to various investment options in the Plan. The investment options of the Plan consist of a money market fund and various mutual funds. The funds set aside in the Trust are subject to the claims of our general creditors in the event of the company’s insolvency as defined in the Plan.

The investment assets of the Trust are recorded at their fair value of $7.3 million and $5.5 million at April 29, 2018 and April 30, 2017, and were recorded in long-term investments-rabbi trust in the 2018 and 2017 Consolidated Balance Sheets, respectively. The investment assets of the Trust are classified as available for sale and accordingly, changes in their fair values are recorded in other comprehensive income (loss).

SEGMENT INFORMATION

12 Months Ended

Apr. 29, 2018

Segment Reporting [Abstract]

SEGMENT INFORMATION

18.

SEGMENT INFORMATION

The company’s operations are classified into two business segments: mattress fabrics and upholstery fabrics. The mattress fabrics segment manufacturers, sources, and sells fabrics and mattress covers to bedding manufacturers. The upholstery fabrics segment manufacturers, sources, and sells fabrics primarily to residential and commercial furniture manufacturers.

Net sales denominated in U.S. dollars accounted for 90%, 92% and 93% of total consolidated net sales in fiscal 2018, 2017, and 2016, respectively. International sales accounted for 23% of net sales in fiscal 2018 and 22% of net sales in fiscal years 2017 and 2016, and are summarized by geographic area as follows:


(dollars in thousands)	2018		2017		2016
north america (excluding USA) (1)	$	27,844		29,995		31,667
far east and asia (2)		40,671		34,695		31,927
all other areas		5,681		3,618		4,336

	$	74,196		68,308		67,930

(1)	Of this amount, $21.9 million, $22.3 million, and $24.2 million are attributable to shipments to Mexico in fiscal 2018, 2017, and 2016, respectively.

(2)	Of this amount $32.6 million, $26.6 million, and $23.1 million are attributable to shipments to China in fiscal 2018, 2017, and 2016, respectively.

Sales are attributed to individual countries based upon location that the company ships its products to for delivery to customers.

The company evaluates the operating performance of its segments based upon income from operations before certain unallocated corporate expenses, and other non-recurring items. Cost of sales in both segments include costs to manufacture or source our products, including costs such as raw material and finished goods purchases, direct and indirect labor, overhead and incoming freight charges. Unallocated corporate expenses primarily represent compensation and benefits for certain executive officers, all costs related to being a public company, and other miscellaneous expenses. Segment assets include assets used in operations of each segment and primarily consist of accounts receivable, inventories, and property, plant, and equipment. The mattress fabrics segment also includes in segment assets, goodwill, an investment in an unconsolidated joint venture, a non-compete agreement and customer relationships associated with an acquisition. The upholstery fabrics segment also includes in segment assets goodwill, customer relationships, and tradename associated with the acquisition of Read Window Products, LLC. (see note 2 for further details).

Statements of operations for the company’s operating segments are as follows:


(dollars in thousands)	2018			2017			2016
net sales:
upholstery fabrics	$	131,128			118,739			126,441
mattress fabrics		192,597			190,805			186,419

	$	323,725			309,544			312,860

gross profit:
upholstery fabrics	$	25,836			26,170			26,393
mattress fabrics		38,797			43,065			38,718

	$	64,633			69,235			65,111


(dollars in thousands)	2018			2017			2016
selling, general, and administrative expenses:
upholstery fabrics	$	14,881			15,079			15,094
mattress fabrics		12,935			13,685			12,223
unallocated corporate		9,356			10,393			9,456

total selling, general, and administrative expenses	$	37,172			39,157			36,773

Income from operations:
upholstery fabrics	$	10,956			11,091			11,298
mattress fabrics		25,861			29,380			26,496

total segment income from operations		36,817			40,471			37,794
unallocated corporate expenses		(9,356	)		(10,393	)		(9,456	)

total income from operations		27,461			30,078			28,338
interest expense		(94	)		—			—
interest income		534			299			176
other expense		(1,018	)		(681	)		(616	)

income before income taxes	$	26,883			29,696			27,898

One customer within the upholstery fabrics segment represented 12%, 11%, and 13% of consolidated net sales in fiscal 2018, 2017 and 2016, respectively. One customer within the mattress fabrics segment represented 13% of consolidated net sales in fiscal 2018, 2017, and 2016, respectively. One customer within the upholstery fabrics segment accounted for 13% of the net accounts receivable balance as of April 29, 2018 and no customers within the upholstery fabrics segment accounted for 10% or more of net accounts receivable as of April 30, 2017. Two customers within the mattress fabrics segment accounted for 20% and 22% of the net accounts receivable balance as of April 29, 2018 and April 30, 2017, respectively.

The hourly employees at our manufacturing facility in Canada (approximately 12% of our workforce) are represented by a local, unaffiliated union. The collective bargaining agreement for these employees expires on February 1, 2020. We are not aware of any efforts to organize any more of our employees, and we believe our relations with our employees are good.

Balance sheet information for the company’s operating segments follow:


(dollars in thousands)	2018			2017			2016
segment assets
mattress fabrics
current assets (1)	$	43,935			47,038			43,472
non-compete agreements, net		753			828			903
customer relationships		613			664			715
goodwill		11,462			11,462			11,462
investment in unconsolidated joint venture		1,501			1,106			—
property, plant, and equipment		48,797	(2)		48,916	(3)		37,480	(4)

total mattress fabrics assets	$	107,061			110,014			94,032

upholstery fabrics
current assets (1)	$	35,826			29,021			26,540
customer relationships		2,226			—			—
tradename		683			—			—
goodwill		2,107			—			—
property, plant, and equipment		2,445	(5)		1,879	(6)		1,564	(7)

total upholstery fabrics assets	$	43,287			30,900			28,104

total segment assets		150,348			140,914			122,136
non-segment assets
cash and cash equivalents		21,228			20,795			37,787
short-term investments – available for sale		2,451			2,443			4,359
short-term investments – held-to-maturity		25,759			—			—
income taxes receivable		—			—			155
deferred income taxes		1,458			419			2,319
other current assets		2,870			2,894			2,477
property, plant, and equipment		552	(8)		856	(8)		929	(8)
long-term investments - held-to-maturity		5,035			30,945			—
long-term investments - rabbi trust		7,326			5,466			4,025
other assets		957			902			955

total assets	$	217,984			205,634			175,142


capital expenditures (9):
mattress fabrics	$	6,713	17,689	9,666
upholstery fabrics		488	822	626
unallocated corporate		238	260	416

	$	7,439	18,771	10,708

depreciation expense
mattress fabrics	$	6,850	6,245	5,837
upholstery fabrics		822	840	834

total segment depreciation expense	$	7,672	7,085	6,671

(1)	Current assets represent accounts receivable and inventory.

(2)	The $48.8 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $35.4 million and located in Canada of $13.4 million.

(3)	The $48.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $34.0 million and located in Canada of $14.9 million.

(4)	The $37.5 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $24.8 million and located in Canada of $12.7 million.

(5)	The $2.4 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $1.8 million and located in China of $661.

(6)	The $1.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $1.2 million and located in China of $655.

(7)	The $1.6 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $893 and located in China of $671.

(8)	The $552, $856, and $929 balance at April 29, 2018, April 30, 2017, and May 1, 2016, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments located in the U.S.

(9)	Capital expenditure amounts are stated on an accrual basis. See Consolidated Statement of Cash Flows for capital expenditure amounts on a cash basis.

STATUTORY RESERVES

12 Months Ended

Apr. 29, 2018

STATUTORY RESERVES

19.

STATUTORY RESERVES

The company’s subsidiaries located in China are required to transfer 10% of their net income, as determined in accordance with the People’s Republic of China (PRC) accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reaches 50% of the company’s registered capital.

The transfer to this reserve must be made before distributions of any dividend to shareholders. As of April 29, 2018, the company’s statutory surplus reserve was $4.6 million, representing 10% of accumulated earnings and profits determined in accordance with PRC accounting rules and regulations. The surplus reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them provided that the remaining reserve balance after such issue is not less than 25% of the registered capital.

The company’s subsidiaries located in China can transfer funds to the parent company with the exception of the statutory surplus reserve of $4.6 million to assist with debt repayment, capital expenditures, and other expenses of the company’s business.

COMMON STOCK REPURCHASE PROGRAM

12 Months Ended

Apr. 29, 2018

COMMON STOCK REPURCHASE PROGRAM

20.

COMMON STOCK REPURCHASE PROGRAM

On June 15, 2016, we announced that our board of directors approved an authorization for us to acquire up to $5.0 million of our common stock. Under the common stock repurchase program, shares may be purchased from time to time in open market transactions, block trades, through plans established under the Securities Exchange Act Rule 10b5-1, or otherwise. The amount of shares purchased and the timing of such purchases will be based on working capital requirements, market and general business conditions, and other factors including alternative investment opportunities.

During fiscal 2018 and 2017, there were no repurchases of our common stock. During fiscal 2016, we purchased 100,776 shares of our common stock at a cost of $2.4 million, all of which was purchased during the third quarter.

At April 29, 2018, we had $5.0 million available for additional repurchases of our common stock.

DIVIDEND PROGRAM

12 Months Ended

Apr. 29, 2018

Restructuring and Related Activities [Abstract]

DIVIDEND PROGRAM

21.

DIVIDEND PROGRAM

On June 13, 2018, we announced that our board of directors approved a regular quarterly cash dividend payment of $0.09 per share. These dividend payments are payable on July 16, 2018, to shareholders of record as of July 2, 2018.

During fiscal 2018, dividend payments totaled $6.8 million, of which $2.6 million represented a special cash dividend payment of $0.21 per share, and $4.2 million represented our regular quarterly cash dividend payments ranging from $0.08 to $0.09 per share.

During fiscal 2017, dividend payments totaled $6.3 million, of which $2.6 million represented a special cash dividend payment in the first quarter of $0.21 per share, and $3.7 million represented our regular quarterly cash dividend payments ranging from $0.07 to $0.08 per share.

During fiscal 2016, dividend payments totaled $8.1 million, of which $5.0 million represented a special cash dividend payment in the first quarter of $0.40 per share, and $3.1 million represented our regular quarterly cash dividend payments ranging from $0.06 to $0.07 per share.

Future dividend payments are subject to Board approval and may be adjusted at the Board’s discretion as business needs or market conditions change.

EXIT AND DISPOSAL ACTIVITIES

12 Months Ended

Apr. 29, 2018

EXIT AND DISPOSAL ACTIVITIES

22.

EXIT AND DISPOSAL ACTIVITIES

On June 12, 2018, our board of directors decided to close our upholstery fabrics manufacturing facility in Anderson, South Carolina. This closure is due to a continued decline in demand for the products manufactured at this facility, reflecting a change in consumer style preferences. We expect to close the facility by October 30, 2018. This action is expected to result in estimated cash charges of approximately $450,000 for employee termination costs, and an undetermined non-cash charge associated with write-downs of inventory. During this transition period, we will be working with our customers to fulfill any outstanding and future orders, and through this process, we will be able to determine a good faith estimate of any write-downs of inventory. Currently, management estimates that the fair market value of the long-lived assets at this facility exceeds their carrying amount of approximately $400,000, and for this reason no charge for impairment of long-lived assets is expected to be recorded in connection with this decision.

SELECTED QUARTERLY DATA (UNAUDITED)

12 Months Ended

Apr. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY DATA (UNAUDITED)

SELECTED QUARTERLY DATA (UNAUDITED)


*(amounts in thousands except per share, ratios & other, stock data)*	fiscal 2018 4th quarter			fiscal 2018 3rd quarter			fiscal 2018 2nd quarter			fiscal 2018 1st quarter			fiscal 2017 4th quarter			fiscal 2017 3rd quarter			fiscal 2017 2nd quarter			fiscal 2017 1st quarter
INCOME STATEMENT DATA
net sales	$	78,184			85,310			80,698			79,533			77,350			76,169			75,343			80,682
cost of sales		63,424			67,707			64,894			63,068			60,194			59,410			58,442			62,263

gross profit		14,760			17,603			15,804			16,465			17,156			16,759			16,901			18,419
selling, general and administrative expenses		8,296			9,959			9,415			9,501			9,986			9,824			9,602			9,746

income from operations		6,464			7,644			6,389			6,964			7,170			6,935			7,299			8,673
interest expense		26			31			37			—			—			—			—			—
interest income		(143	)		(132	)		(128	)		(131	)		(134	)		(124	)		(15	)		(25	)
other expense		115			229			321			353			305			69			155			152

income before income taxes		6,466			7,516			6,159			6,742			6,999			6,990			7,159			8,546
income taxes		(6,217	)		8,208			2,108			1,640			778			643			2,684			3,233
loss from investment in unconsolidated joint venture		17			56			75			118			23			—			—			—

net income (loss)	$	12,666			(748	)		3,976			4,984			6,198			6,347			4,475			5,313

depreciation	$	1,992			1,966			1,905			1,807			1,781			1,793			1,751			1,761

weighted average shares outstanding		12,450			12,436			12,440			12,399			12,340			12,313			12,308			12,286
weighted average shares outstanding, assuming dilution		12,611			12,436			12,580			12,590			12,567			12,544			12,507			12,463

PER SHARE DATA
net income (loss) per share - basic	$	1.02			(0.06	)		0.32			0.40			0.50			0.52			0.36			0.43
net income (loss) per share - diluted		1.00			(0.06	)		0.32			0.40			0.49			0.51			0.36			0.43
dividends per share		0.09			0.09			0.08			0.29			0.08			0.08			0.07			0.28
book value		13.12			12.22			12.31			12.03			12.03			11.56			11.04			10.68

BALANCE SHEET DATA
operating working capital (3)	$	49,939			47,760			46,620			42,608			40,869			40,973			41,810			43,486
property, plant and equipment, net		51,794			51,838			52,530			52,912			51,651			50,333			45,537			41,745
total assets		217,984			216,844			201,043			207,904			205,634			191,056			179,127			183,360
capital expenditures		1,568			1,274			1,529			3,068			3,097			6,590			5,541			3,543
dividends paid		1,121			1,119			995			3,608			988			985			862			3,445
line of credit (1)		—			—			—			5,000			—			—			—			7,000
shareholders’ equity		163,376			152,182			153,080			149,677			148,630			142,314			135,949			131,435
capital employed (2)		114,817			109,165			109,373			108,222			98,429			97,788			94,101			94,599

RATIOS & OTHER DATA
gross profit margin		18.9	%		20.6	%		19.6	%		20.7	%		22.2	%		22.0	%		22.4	%		22.8	%
operating income margin		8.3			9.0			7.9			8.8			9.3			9.1			9.7			10.7
net income margin		16.2			(0.9	)		4.9			6.3			8.0			8.3			5.9			6.6
effective income tax rate		(96.1	)		109.2			34.2			24.3			11.1			9.2			37.5			37.8
Debt-to-total capital employed ratio (1)		0.0			0.0			0.0			4.6			0.0			0.0			0.0			7.4
operating working capital turnover (3)		7.1			7.4			7.4			7.4			7.3			7.0			7.0			7.0
days sales in receivables		30			28			27			25			29			27			23			26
inventory turnover		4.8			5.2			5.2			4.7			5.0			5.2			5.2			5.3

STOCK DATA
stock price
high	$	32.29			34.05			33.25			34.00			34.50			37.80			34.30			30.11
low		27.40			26.15			27.00			30.60			30.25			26.80			26.72			25.57
close		30.10			31.35			31.95			30.65			32.10			33.80			28.15			28.53
daily average trading volume (shares)		18.3			17.4			24.4			27.9			37.7			43.5			45.9			40.9

(1)	Debt represents outstanding borrowings on our lines of credit.

(2)

Capital employed does not include cash and cash equivalents, short-term investments (available-for-sale), short-term investments (held-to-maturity), long-term investments (held-to-maturity), long-term investments (rabbi trust), lines of credit, noncurrent deferred tax assets and liabilities, income taxes receivable and payable, and deferred compensation.

(3)	Operating working capital for this calculation is accounts receivable and inventories, offset by accounts payable-trade, accounts payable - capital expenditures, and deferred revenue.

GENERAL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Apr. 29, 2018

Description of Business

Description of Business – Our operations are classified into two business segments: mattress fabrics and upholstery fabrics, in which the majority of our revenues are derived in North America.

Basis of Presentation

Basis of Presentation – The consolidated financial statements of the company have been prepared in accordance with U.S. generally accepted accounting principles.

Principles of Consolidation

Fiscal Year

Fiscal Year – Our fiscal year is the 52 or 53-week period ending on the Sunday closest to April 30. Fiscal 2018, 2017, and 2016 each included 52 weeks.

Use of Estimates

Cash and Cash Equivalents

A summary of our cash and cash equivalents by geographic area follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
United States	$	9,452		1,147
China		9,221		12,722
Canada		2,349		2,906
Cayman Islands		206		4,020

	$	21,228		20,795

Accounts Receivable

Inventories

Property, Plant and Equipment

Interest Costs

Interest Costs – Interest costs incurred were $194,000, $158,000, and $58,000 in fiscal years 2018, 2017, and 2016, respectively.

Foreign Currency Adjustments

A summary of our foreign currency exchange (losses) gains by geographic area follows:


(dollars in thousands)	2018			2017			2016
China	$	(298	)		111			(70	)
Canada		(8	)		(120	)		76

	$	(306	)		(9	)		6

Goodwill

Income Taxes

Deferred Income Taxes – Valuation Allowance

Deferred Income Taxes – Undistributed Earnings from Foreign Subsidiaries

Uncertainty in Income Taxes

Revenue Recognition

Shipping and Handling Costs

Sales and Other Taxes

Sales and Other Taxes – Sales and other taxes collected from customers and remitted to governmental authorities are presented on a net basis and, as such, are excluded from revenues.

Stock-Based Compensation

Fair Value of Financial Instruments

Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Measurement of Inventory

Stock-Based Compensation

Recently Issued Accounting Pronouncements

There are no other new accounting pronouncements that are expected to have a significant impact on our consolidated financial statements.

Short-term Investments [Member]

Investments

A summary of our short-term investments by geographic area follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
Canada	$	1,366		1,362
United States		1,085		1,081

	$	2,451		2,443

Long-term Investments (Rabbi Trust) [Member]

Investments

Investments (Held-To-Maturity) [Member]

Investments

GENERAL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Apr. 29, 2018

Accounting Policies [Abstract]

Summary of Cash and Cash Equivalents by Geographic Area

A summary of our cash and cash equivalents by geographic area follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
United States	$	9,452		1,147
China		9,221		12,722
Canada		2,349		2,906
Cayman Islands		206		4,020

	$	21,228		20,795

Summary of Short-Term Investments by Geographic Area

A summary of our short-term investments by geographic area follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
Canada	$	1,366		1,362
United States		1,085		1,081

	$	2,451		2,443

Summary of Foreign Currency Exchange Gains (Losses) by Geographic Area

A summary of our foreign currency exchange (losses) gains by geographic area follows:


(dollars in thousands)	2018			2017			2016
China	$	(298	)		111			(70	)
Canada		(8	)		(120	)		76

	$	(306	)		(9	)		6

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Apr. 29, 2018

Business Combinations [Abstract]

Schedule of Allocation of Acquisition Cost to Assets Acquired and Liabilities Assumed

The following table presents the final allocation of the acquisition cost to the assets acquired and liabilities assumed based on their fair values.


dollars in thousands)	Fair Value
Customer relationships (Note 8)	$	2,247
Goodwill (Note 6)		2,107
Inventory		1,128
Accounts receivable		897
Tradename (Note 8)		683
Property, plant & equipment		379
Other assets		35
Deferred revenue		(903	)
Accounts payable		(719	)
Accrued expenses		(174	)

	$	5,680

Schedule of Unaudited Pro Forma Consolidated Results of Operations


	Years ended
(dollars in thousands, except per share data)	April 29, 2018		April 30, 2017
Net Sales	$	334,953	$	321,398
Income from operations		26,799		30,441
Net income		20,455		22,552
Net income per share, basic		1.65		1.83
Net income per share, diluted		1.62		1.80

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Apr. 29, 2018

Receivables [Abstract]

Summary of Accounts Receivable

A summary of accounts receivable follows:


(dollars in thousands)	April 29, 2018			April 30, 2017
customers	$	28,097			26,211
allowance for doubtful accounts		(357	)		(414	)
reserve for returns and allowances and discounts		(1,433	)		(1,220	)

	$	26,307			24,577

Summary of the Activity in the Allowance for Doubtful Accounts

A summary of the activity in the allowance for doubtful accounts follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	(414	)		(1,088	)		(851	)
provision for bad debts		57			222			(363	)
write-offs, net of recoveries		—			452			126

ending balance	$	(357	)		(414	)		(1,088	)

Summary of the Activity in the Allowance for Returns and Allowances and Discounts

A summary of the activity in the allowance for returns and allowances and discounts follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	(1,220	)		(962	)		(738	)
provision for returns and allowances and discounts		(3,295	)		(3,061	)		(2,825	)
credits issued		3,082			2,803			2,601

ending balance	$	(1,433	)		(1,220	)		(962	)

INVENTORIES (Tables)

12 Months Ended

Apr. 29, 2018

Inventory Disclosure [Abstract]

Summary of Inventories

A summary of inventories follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
raw materials	$	6,024		6,456
work-in-process		3,264		3,095
finished goods		44,166		41,931

	$53,454		51,482

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Apr. 29, 2018

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

A summary of property, plant and equipment follows:


(dollars in thousands)	depreciable lives (in years)		April 29, 2018			April 30, 2017
land and improvements		0-10	$	963			836
buildings and improvements		7-40		31,022			19,071
leasehold improvements		**		1,993			1,541
machinery and equipment		3-12		72,924			67,709
office furniture and equipment		3-10		9,514			8,936
capital projects in progress				2,086			12,901

				118,502			110,994
accumulated depreciation and amortization				(66,708	)		(59,343	)

			$	51,794			51,651

**	Shorter of life of lease or useful life.

GOODWILL (Tables)

12 Months Ended

Apr. 29, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Change in Carrying Amount of Goodwill

A summary of the change in the carrying amount of goodwill follows:


(dollars in thousands)	2018		2017		2016
beginning balance	$	11,462		11,462		11,462
acquisition of assets (note 2)		2,107		—		—
loss on impairment		—		—		—

ending balance	$	13,569		11,462		11,462

INVESTMENT IN UNCONSOLIDATED JOINT VENTURE (Tables)

12 Months Ended

Apr. 29, 2018

Equity Method Investments and Joint Ventures [Abstract]

Summary of Equity Method Investment

The following table summarizes information of assets, liabilities and members’ equity of our equity method investment in CLIH:


(dollars in thousands)	April 29, 2018		April 30, 2017
total assets	$	3,130	$	2,258
total liabilities	$	128	$	46
total members’ equity	$	3,002	$	2,212

OTHER ASSETS (Tables)

12 Months Ended

Apr. 29, 2018

Summary of Other Assets

A summary of other assets follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
customer relationships, net	$	2,839		664
tradename		683		—
non-compete agreement, net		753		828
cash surrender value – life		393		376
other		564		526

	$	5,232		2,394

Customer Relationships [Member]

Summary of Change in Carrying Amount of Finite-Lived Intangible Assets

A summary of the change in the carrying amount of our customer relationships follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	664			715			766
acquisition of assets (note 2)		2,247						—
amortization expense		(72	)		(51	)		(51	)
loss on impairment		—			—			—

ending balance	$	2,839			664			715

Non-compete Agreement [Member]

Summary of Change in Carrying Amount of Finite-Lived Intangible Assets

A summary of the change in the carrying amount of our non-compete agreement follows:


(dollars in thousands)	2018			2017			2016
beginning balance	$	828			903			978
amortization expense		(75	)		(75	)		(75	)
loss on impairment		—			—			—

ending balance	$	753			828			903

ACCRUED EXPENSES (Tables)

12 Months Ended

Apr. 29, 2018

Summary of Accrued Expenses

A summary of accrued expenses follows:


(dollars in thousands)	April 29, 2018		April 30, 2017
compensation, commissions and related benefits	$	6,918		10,188
advertising rebates		750		468
interest		20		51
other		2,400		1,240

	$	10,088		11,947

INCOME TAXES (Tables)

12 Months Ended

Apr. 29, 2018

Schedule of Allocation of Income Tax Expense

Total income tax expense was allocated as follows:


(dollars in thousands)	2018		2017			2016
income from operations	$	5,740		7,339			10,963
shareholders’ equity, related to the tax benefit arising from stock based compensation		—		(657	)		(841	)

	$	5,740		6,682			10,122

Schedule of Income Tax Expense Attributable to Income from Operations

Income tax expense attributable to income from operations consists of:


(dollars in thousands)	2018			2017			2016
current
federal	$	(1,367	)		109			—
state		9			13			6
2017 Tax Cuts and Jobs Act		4,854			—			—
foreign		4,726			5,981			6,765
foreign – reversal of uncertain tax position		—			(3,431	)		—

		8,222			2,672			6,771

deferred
federal		4,295			404			(1,205	)
state		112			54			305
2017 Tax Cuts and Jobs Act (1)		(6,903	)		—			—
undistributed earnings – foreign subsidiaries		(195	)		(101	)		(1,129	)
U.S. operating loss carryforwards		—			3,630			5,467
foreign		93			734			1,086
valuation allowance (1)		116			(54	)		(332	)

		(2,482	)		4,667			4,192

	$	5,740			7,339			10,963

(1)	The income tax benefit of $6,903 includes a charge of $4,550 for the establishment of a valuation allowance against U.S. foreign tax credits that are more-likely-than not to be realized as a result of the 2017 Tax Cuts and Jobs Act.

Schedule of Income (Loss) before Income Taxes Related to Foreign and U.S. Operations

Income (loss) before income taxes related to our foreign and U.S. operations consists of:


(dollars in thousands)	2018		2017			2016
Foreign
China	$	11,036		13,650			14,130
Canada		5,985		4,918			3,647
Poland		—		(19	)		(62	)
Cayman Islands		339		154			—

Total Foreign		17,360		18,703			17,715

United States		9,523		10,993			10,183

	$	26,883		29,696			27,898

Summary of Differences in Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate


	2018			2017			2016
federal income tax rate		30.4	%		34.0	%		34.0	%
tax effects of the 2017 Tax Cuts and Jobs Act		(7.6	)		—			—
tax effects of Chinese foreign exchange (losses) gains		(2.8	)		1.6			4.4
reversal of foreign uncertain income tax position		—			(11.6	)		—
tax effects of stock-based compensation		(1.8	)		—			—
undistributed earnings from foreign subsidiaries		3.7			—			—
other		(0.5	)		0.7			0.9

		21.4	%		24.7	%		39.3	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities consist of the following:


(dollars in thousands)	2018			2017
deferred tax assets:
accounts receivable	$	316			447
inventories		2,217			2,196
compensation		3,438			6,222
liabilities and other		117			890
foreign income tax credits – U.S.		5,720			44,917
alternative minimum tax credit – U.S.		—			1,428
property, plant and equipment (1)		226			245
loss carryforwards – U.S.		2,513			3,842
loss carryforwards – foreign		76			73
unrecognized tax benefits – U.S.		—			(3,842	)
valuation allowances		(5,204	)		(536	)

total deferred tax assets		9,419			55,882

deferred tax liabilities:
undistributed earnings on foreign subsidiaries		(4,256	)		(43,978	)
unrecognized tax benefits – U.S.		(380	)		(7,936	)
property, plant and equipment (2)		(4,352	)		(5,546	)
goodwill		(1,046	)		(1,478	)
other		(77	)		(118	)

total deferred tax liabilities		(10,111	)		(59,056	)

Net deferred liabilities	$	(692	)		(3,174	)

(1)	Pertains to the company’s operations located in China.

(2)	Pertains to the company’s operations located in the U.S. and Canada.

Summary of Valuation Allowances Against Deferred Income Taxes

valuation allowances against our deferred income taxes pertain to the following jurisdictions:


(dollars in thousands)	April 29, 2018		April 30, 2017
U.S. foreign income tax credits	$	4,550		—
U.S. state loss carryforwards and credits		578		464
Polish loss carryforwards		76		72

	$	5,204		536

Summary of Change in Valuation Allowances Against Deferred Income Taxes

A summary of the change in the valuation allowances against our deferred income taxes follows:


(dollars in thousands)	2018		2017			2016
beginning balance	$	536		590			922
establishment of valuation allowance (1)		4,550		—			—
change in estimate (2)		118		(54	)		(332	)

ending balance	$	5,204		536			590

(1)	The establishment of this valuation allowance pertains to U.S. foreign tax credits that are more-likely-than not to be realized as a result of the Tax Act.

(2)	Amounts pertain to a change in estimate of the recoverability of certain deferred income tax assets as of the end of the respective prior fiscal year.

Schedule of Unrecognized Tax Benefit

The following table sets forth the change in the company’s unrecognized income tax benefit:


(dollars in thousands)	2018			2017			2016
beginning balance	$	12,245			14,897			14,141
increases from prior period tax positions		350			854			454
decreases from prior period tax positions (1)		(11,751	)		(3,506	)		(77	)
increases from current period tax positions		—			—			379

ending balance	$	844			12,245			14,897

(1)

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 29, 2018

Summary of Stock Option Activity

The following tables summarize stock option activity during fiscal 2018, 2017, and 2016:


				2018					2017					2016
	Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price		Shares			Weighted- Average Exercise Price
outstanding at beginning of year		15,600		$	7.14		83,600		$	8.37		140,100		$	6.49
granted		—			—		—			—		—			—
exercised		(15,600	)		7.14		(68,000	)		8.65		(54,500	)		3.68
canceled/expired		—			—		—			—		(2,000	)		4.59

outstanding at end of year		—			—		15,600			7.14		83,600			8.37

Summary of Time Vested Restricted Stock Activity

The following table summarizes the time vested restricted stock activity during fiscal years 2018, 2017, and 2016:


	2018 Shares			2017 Shares		2016 Shares
outstanding at beginning of year		1,200			—		—
granted		1,200			1,200		—
vested		(1,200	)		—		—

outstanding at end of year		1,200			1,200		—

Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units


Closing price of our common stock	$	32.50
Expected volatility of our common stock		31.0	%
Expected volatility of peer companies		16.5	%
Risk-free interest rate		1.56	%
Dividend yield		1.66	%
Correlation coefficient of peer companies		0.46

Summary of Vested Performance Based Restricted Stock Units

The following table summarizes information related to our performance based restricted stock units that vested during the fiscal 2018, 2017, and 2016:


Fiscal Year	Common Stock Shares Vested		(3) Weighted Average Fair Value		Price Per Share
Fiscal 2018 (1)		102,845	$	1,820	$	17.70	(4)
Fiscal 2018 (2)		16,000	$	520	$	32.50	(5)
Fiscal 2017 (1)		37,192	$	637	$	17.12	(4)
Fiscal 2017 (2)		12,000	$	345	$	28.77	(5)
Fiscal 2016 (1)		115,855	$	1,183	$	10.21	(4)

(1)	NEOs and key employees.

(2)	Non-employee

(3)	Dollar amounts are in thousands.

(4)	Price per share represents closing price of our common stock on the date of grant.

(5)	The respective grants vested during the first quarter of fiscal 2018 or 2017, respectively. Accordingly, the price per share represents the closing price of our common stock on the date the award vested.

Summary of Grants of Common Stock to Outside Directors

The following table summarizes information related to our grants of common stock to our outside directors during fiscal 2018, 2017, and 2016:


Date of Grant	Common Stock Awarded		(1) Price Per Share		Vesting Period
October 2, 2017		4,800	$	33.20		Immediate
October 3, 2016		4,800	$	29.80		Immediate
October 1, 2015		3,000	$	31.77		Immediate

(1)	Price per share represents closing price of our common stock on the date of grant.

NEOs and Key Employees [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance based restricted stock units associated with NEOs and key employees that are currently unvested:


Date of Grant	(3) Restricted Stock Units Awarded		Price Per Share			Vesting Period
July 13, 2017 (1)		78,195	$	31.85	(4)		3 years
July 13, 2017 (2)		44,000	$	32.50	(5)		3 years
July 14, 2016 (1) (2)		107,880	$	28.00	(5)		3 years
July 15, 2015 (1) (2)		107,554	$	32.23	(5)		3 years

(1)	Performance-based restricted stock units awarded to NEOs.

(2)	Performance-based restricted stock units awarded to key employees.

(3)	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(4)

(5)	Price per share represents the closing price of our common stock on the date of grant.

Non-employee [Member]

Summary of Grants of Performance Based Restricted Stock Units

The following table summarizes information related to our grants of performance-based restricted stock units associated with a non-employee that are currently unvested:


Date of Grant	(1) Restricted Stock Units Awarded		Price Per Share			Vesting Period
July 13, 2017		10,200	$	30.10	(2)		3 years
July 14, 2016		11,549	$	30.10	(2)		3 years
July 15, 2015		10,364	$	30.10	(2)		3 years

(1)	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.

(2)	The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on April 29, 2018, the end of our reporting period.

Time Vested Restricted Stock Awards [Member] | Management [Member]

Summary of Grants of Time-Based Restricted Stock Awards

The following table summarizes information related to our grants of time-based restricted stock awards associated with a key member of management during fiscal years 2018 and 2017:


Date of Grant	(1) Restricted Stock Awarded		(2) Price Per Share		Vesting Period
July 13, 2017		1,200	$	32.50		11 months
June 14, 2016		1,200	$	28.00		11 months

Fair Value of Financial Instruments (Tables)

12 Months Ended

Apr. 29, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about assets and liabilities measured at fair value on a recurring basis:

Fair value measurements at April 29, 2018 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Premier Money Market Fund

6,492

N/A

6,492

Low Duration Bond Fund

1,085

N/A

1,085

Intermediate Term Bond Fund

747

N/A

747

Strategic Income Fund

619

N/A

619

Large Blend Fund

402

N/A

402

Growth Allocation Fund

169

N/A

169

Moderate Allocation Fund

113

N/A

113

Other

150

N/A

150

Liabilities:

EURO Foreign Exchange Contract

N/A

Fair value measurements at April 30, 2017 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Premier Money Market Fund

4,811

N/A

4,811

Low Duration Bond Fund

1,081

N/A

1,081

Intermediate Term Bond Fund

751

N/A

751

Strategic Income Fund

611

N/A

611

Large Blend Fund

365

N/A

365

Growth Allocation Fund

126

N/A

126

Moderate Allocation Fund

N/A

Other

N/A

Liabilities:

None

N/A

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

At April 29, 2018, we had no assets that were required to be measured at fair value on a nonrecurring basis other than the assets acquired from Read (see note 2) that were acquired at fair value:

Fair value measurements at April 29, 2018 using:

Quoted prices in
active markets
for identical
assets

Significant other
observable inputs

Significant
unobservable
inputs

(amounts in thousands)

Level 1

Level 2

Level 3

Total

Assets:

Customer Relationships

N/A

2,247

Goodwill

N/A

2,107

Inventory

N/A

1,128

Tradename

N/A

683

Equipment

N/A

379

Liabilities:

None

N/A

DERIVATIVES (Tables)

12 Months Ended

Apr. 29, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

(Amounts in Thousands)

Fair Values of Derivative Instruments

April 29, 2018

April 30, 2017

Derivatives designated as hedging instruments under ASC Topic 815

Balance

Sheet

Location

Fair
Value

Balance
Sheet
Location

Fair
Value

Euro Foreign Exchange Contract

Accrued Expenses

N/A

—

Schedule of Gains and Losses on Derivative Instruments


Derivatives in ASC Topic 815 Net Investment Hedging Relationships	Amt of Gain (Loss) (net of tax) Recognized in OCI on Derivative (Effective Portion) and recorded in Accrued Expenses at Fair Value							Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)		Amount of Gain (loss) (net of tax) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	2018			2017		2016				2018		2017		2016				2018		2017		2016

EURO Foreign Exchange Contract	$	(55	)	$	—	$	—		Other Exp	$	—	$	—	$	—		Other Exp	$	—	$	—	$	—

NET INCOME PER SHARE (Tables)

12 Months Ended

Apr. 29, 2018

Earnings Per Share [Abstract]

Schedule of Weighted Average Shares Used in the Computation of Basic and Diluted Net Income Per Share

Weighted average shares used in the computation of basic and diluted net income per share are as follows:


(in thousands)	2018		2017		2016
weighted-average common shares outstanding, basic		12,431		12,312		12,302
dilutive effect of stock-based compensation		202		206		173

weighted-average common shares outstanding, diluted		12,633		12,518		12,475

SEGMENT INFORMATION (Tables)

12 Months Ended

Apr. 29, 2018

Segment Reporting [Abstract]

Summary of Segment Information by Geographic Area

International sales accounted for 23% of net sales in fiscal 2018 and 22% of net sales in fiscal years 2017 and 2016, and are summarized by geographic area as follows:


(dollars in thousands)	2018		2017		2016
north america (excluding USA) (1)	$	27,844		29,995		31,667
far east and asia (2)		40,671		34,695		31,927
all other areas		5,681		3,618		4,336

	$	74,196		68,308		67,930

(1)	Of this amount, $21.9 million, $22.3 million, and $24.2 million are attributable to shipments to Mexico in fiscal 2018, 2017, and 2016, respectively.

(2)	Of this amount $32.6 million, $26.6 million, and $23.1 million are attributable to shipments to China in fiscal 2018, 2017, and 2016, respectively.

Schedule of Operating Segments Information

Statements of operations for the company’s operating segments are as follows:


(dollars in thousands)	2018			2017			2016
net sales:
upholstery fabrics	$	131,128			118,739			126,441
mattress fabrics		192,597			190,805			186,419

	$	323,725			309,544			312,860

gross profit:
upholstery fabrics	$	25,836			26,170			26,393
mattress fabrics		38,797			43,065			38,718

	$	64,633			69,235			65,111


(dollars in thousands)	2018			2017			2016
selling, general, and administrative expenses:
upholstery fabrics	$	14,881			15,079			15,094
mattress fabrics		12,935			13,685			12,223
unallocated corporate		9,356			10,393			9,456

total selling, general, and administrative expenses	$	37,172			39,157			36,773

Income from operations:
upholstery fabrics	$	10,956			11,091			11,298
mattress fabrics		25,861			29,380			26,496

total segment income from operations		36,817			40,471			37,794
unallocated corporate expenses		(9,356	)		(10,393	)		(9,456	)

total income from operations		27,461			30,078			28,338
interest expense		(94	)		—			—
interest income		534			299			176
other expense		(1,018	)		(681	)		(616	)

income before income taxes	$	26,883			29,696			27,898

Balance sheet information for the company’s operating segments follow:


(dollars in thousands)	2018			2017			2016
segment assets
mattress fabrics
current assets (1)	$	43,935			47,038			43,472
non-compete agreements, net		753			828			903
customer relationships		613			664			715
goodwill		11,462			11,462			11,462
investment in unconsolidated joint venture		1,501			1,106			—
property, plant, and equipment		48,797	(2)		48,916	(3)		37,480	(4)

total mattress fabrics assets	$	107,061			110,014			94,032

upholstery fabrics
current assets (1)	$	35,826			29,021			26,540
customer relationships		2,226			—			—
tradename		683			—			—
goodwill		2,107			—			—
property, plant, and equipment		2,445	(5)		1,879	(6)		1,564	(7)

total upholstery fabrics assets	$	43,287			30,900			28,104

total segment assets		150,348			140,914			122,136
non-segment assets
cash and cash equivalents		21,228			20,795			37,787
short-term investments – available for sale		2,451			2,443			4,359
short-term investments – held-to-maturity		25,759			—			—
income taxes receivable		—			—			155
deferred income taxes		1,458			419			2,319
other current assets		2,870			2,894			2,477
property, plant, and equipment		552	(8)		856	(8)		929	(8)
long-term investments - held-to-maturity		5,035			30,945			—
long-term investments - rabbi trust		7,326			5,466			4,025
other assets		957			902			955

total assets	$	217,984			205,634			175,142


capital expenditures (9):
mattress fabrics	$	6,713	17,689	9,666
upholstery fabrics		488	822	626
unallocated corporate		238	260	416

	$	7,439	18,771	10,708

depreciation expense
mattress fabrics	$	6,850	6,245	5,837
upholstery fabrics		822	840	834

total segment depreciation expense	$	7,672	7,085	6,671

(1)	Current assets represent accounts receivable and inventory.

(2)	The $48.8 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $35.4 million and located in Canada of $13.4 million.

(3)	The $48.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $34.0 million and located in Canada of $14.9 million.

(4)	The $37.5 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $24.8 million and located in Canada of $12.7 million.

(5)	The $2.4 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $1.8 million and located in China of $661.

(6)	The $1.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $1.2 million and located in China of $655.

(7)	The $1.6 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $893 and located in China of $671.

(8)	The $552, $856, and $929 balance at April 29, 2018, April 30, 2017, and May 1, 2016, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments located in the U.S.

(9)	Capital expenditure amounts are stated on an accrual basis. See Consolidated Statement of Cash Flows for capital expenditure amounts on a cash basis.

SELECTED QUARTERLY DATA (UNAUDITED) (Tables)

12 Months Ended

Apr. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

Summary of Selected Quarterly Data


*(amounts in thousands except per share, ratios & other, stock data)*	fiscal 2018 4th quarter			fiscal 2018 3rd quarter			fiscal 2018 2nd quarter			fiscal 2018 1st quarter			fiscal 2017 4th quarter			fiscal 2017 3rd quarter			fiscal 2017 2nd quarter			fiscal 2017 1st quarter
INCOME STATEMENT DATA
net sales	$	78,184			85,310			80,698			79,533			77,350			76,169			75,343			80,682
cost of sales		63,424			67,707			64,894			63,068			60,194			59,410			58,442			62,263

gross profit		14,760			17,603			15,804			16,465			17,156			16,759			16,901			18,419
selling, general and administrative expenses		8,296			9,959			9,415			9,501			9,986			9,824			9,602			9,746

income from operations		6,464			7,644			6,389			6,964			7,170			6,935			7,299			8,673
interest expense		26			31			37			—			—			—			—			—
interest income		(143	)		(132	)		(128	)		(131	)		(134	)		(124	)		(15	)		(25	)
other expense		115			229			321			353			305			69			155			152

income before income taxes		6,466			7,516			6,159			6,742			6,999			6,990			7,159			8,546
income taxes		(6,217	)		8,208			2,108			1,640			778			643			2,684			3,233
loss from investment in unconsolidated joint venture		17			56			75			118			23			—			—			—

net income (loss)	$	12,666			(748	)		3,976			4,984			6,198			6,347			4,475			5,313

depreciation	$	1,992			1,966			1,905			1,807			1,781			1,793			1,751			1,761

weighted average shares outstanding		12,450			12,436			12,440			12,399			12,340			12,313			12,308			12,286
weighted average shares outstanding, assuming dilution		12,611			12,436			12,580			12,590			12,567			12,544			12,507			12,463

PER SHARE DATA
net income (loss) per share - basic	$	1.02			(0.06	)		0.32			0.40			0.50			0.52			0.36			0.43
net income (loss) per share - diluted		1.00			(0.06	)		0.32			0.40			0.49			0.51			0.36			0.43
dividends per share		0.09			0.09			0.08			0.29			0.08			0.08			0.07			0.28
book value		13.12			12.22			12.31			12.03			12.03			11.56			11.04			10.68

BALANCE SHEET DATA
operating working capital (3)	$	49,939			47,760			46,620			42,608			40,869			40,973			41,810			43,486
property, plant and equipment, net		51,794			51,838			52,530			52,912			51,651			50,333			45,537			41,745
total assets		217,984			216,844			201,043			207,904			205,634			191,056			179,127			183,360
capital expenditures		1,568			1,274			1,529			3,068			3,097			6,590			5,541			3,543
dividends paid		1,121			1,119			995			3,608			988			985			862			3,445
line of credit (1)		—			—			—			5,000			—			—			—			7,000
shareholders’ equity		163,376			152,182			153,080			149,677			148,630			142,314			135,949			131,435
capital employed (2)		114,817			109,165			109,373			108,222			98,429			97,788			94,101			94,599

RATIOS & OTHER DATA
gross profit margin		18.9	%		20.6	%		19.6	%		20.7	%		22.2	%		22.0	%		22.4	%		22.8	%
operating income margin		8.3			9.0			7.9			8.8			9.3			9.1			9.7			10.7
net income margin		16.2			(0.9	)		4.9			6.3			8.0			8.3			5.9			6.6
effective income tax rate		(96.1	)		109.2			34.2			24.3			11.1			9.2			37.5			37.8
Debt-to-total capital employed ratio (1)		0.0			0.0			0.0			4.6			0.0			0.0			0.0			7.4
operating working capital turnover (3)		7.1			7.4			7.4			7.4			7.3			7.0			7.0			7.0
days sales in receivables		30			28			27			25			29			27			23			26
inventory turnover		4.8			5.2			5.2			4.7			5.0			5.2			5.2			5.3

STOCK DATA
stock price
high	$	32.29			34.05			33.25			34.00			34.50			37.80			34.30			30.11
low		27.40			26.15			27.00			30.60			30.25			26.80			26.72			25.57
close		30.10			31.35			31.95			30.65			32.10			33.80			28.15			28.53
daily average trading volume (shares)		18.3			17.4			24.4			27.9			37.7			43.5			45.9			40.9

(1)	Debt represents outstanding borrowings on our lines of credit.

(2)

(3)	Operating working capital for this calculation is accounts receivable and inventories, offset by accounts payable-trade, accounts payable - capital expenditures, and deferred revenue.

General and Summary of Significant Accounting Policies (Detail)	3 Months Ended								12 Months Ended
	Apr. 29, 2018 USD ($)	Jan. 28, 2018 USD ($)	Oct. 29, 2017 USD ($)	Jul. 30, 2017 USD ($)	Apr. 30, 2017 USD ($)	Jan. 29, 2017 USD ($)	Oct. 30, 2016 USD ($)	Jul. 31, 2016 USD ($)	Apr. 28, 2019	Apr. 29, 2018 USD ($) Segment	Apr. 30, 2017 USD ($)	May 01, 2016 USD ($)	Jan. 01, 2017
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of business segments \| Segment										2
Short-term investments	$ 2,451,000				$ 2,443,000					$ 2,451,000	$ 2,443,000
long-term investments - rabbi trust	7,326,000				5,466,000					7,326,000	5,466,000
purchase of long-term investments (held-to-maturity)							$ 31,000,000				31,020,000
Amortized cost of held-to-maturity investments	30,800,000				30,900,000					30,800,000	30,900,000
Fair value of held-to-maturity investments	30,600,000				30,800,000					$ 30,600,000	30,800,000
Inventory aging categories										Inventory aging categories are six, nine, twelve, and fifteen months
Interest costs incurred on long-term debt and lines of credit										$ 194,000	158,000	$ 58,000
Interest cost capitalized										100,000	158,000	58,000
Income taxes	(6,217,000)	$ 8,208,000	$ 2,108,000	$ 1,640,000	778,000	$ 643,000	$ 2,684,000	$ 3,233,000		5,740,000	7,339,000	10,963,000
Net cash provided by operating activities										27,473,000	34,067,000	28,383,000
Net cash provided by financing activities										(12,012,000)	(7,724,000)	(13,418,000)
ASU No. 2016-09 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Income taxes										(497,000)
Selling, General and Administrative Expenses [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Handling costs										4,600,000	4,600,000	4,200,000
Scenario, Forecast [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Dividends received deduction percentage for earnings and profits received from foreign corporation									100.00%
Dividends received deduction, foreign corporation ownership percentage									10.00%
Short-term Investments [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Unrealized gain (loss) on investments	(91,000)				(47,000)					(91,000)	(47,000)
Long-term Investments (Rabbi Trust) [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Unrealized gain (loss) on investments	$ 61,000				$ 43,000					$ 61,000	43,000
Excess Tax Benefits from Stock Based Compensation Expense [Member] \| ASU No. 2016-09 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Net cash provided by operating activities											657,000	841,000
Net cash provided by financing activities											(657,000)	(841,000)
Common Stock Shares Withheld to Satisfy Statutory Income Tax Withholding Obligation [Member] \| ASU No. 2016-09 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Net cash provided by operating activities											429,000	747,000
Net cash provided by financing activities											$ (429,000)	$ (747,000)
Maximum [Member] \| Investments (Held-To-Maturity) [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Investment maturity period										2 years 6 months
Minimum [Member] \| Investments (Held-To-Maturity) [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Investment maturity period										2 years
CLIH [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	50.00%									50.00%			50.00%

Summary of Cash and Cash Equivalents by Geographic Area (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Cash and Cash Equivalents [Line Items]
cash and cash equivalents	$ 21,228	$ 20,795	$ 37,787	$ 29,725
United States [Member]
Cash and Cash Equivalents [Line Items]
cash and cash equivalents	9,452	1,147
China [Member]
Cash and Cash Equivalents [Line Items]
cash and cash equivalents	9,221	12,722
Canada [Member]
Cash and Cash Equivalents [Line Items]
cash and cash equivalents	2,349	2,906
Cayman Islands [Member]
Cash and Cash Equivalents [Line Items]
cash and cash equivalents	$ 206	$ 4,020

Summary of Short-Term Investments by Geographic Area (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017
Schedule of Investments [Line Items]
Short-term investments	$ 2,451	$ 2,443
Canada [Member]
Schedule of Investments [Line Items]
Short-term investments	1,366	1,362
United States [Member]
Schedule of Investments [Line Items]
Short-term investments	$ 1,085	$ 1,081

Summary of Foreign Currency Exchange Gains (Losses) by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Foreign Currency Exchange Gain And Loss [Line Items]
Foreign currency exchange gains (losses)	$ (306)	$ (9)	$ 6
China [Member]
Foreign Currency Exchange Gain And Loss [Line Items]
Foreign currency exchange gains (losses)	(298)	111	(70)
Canada [Member]
Foreign Currency Exchange Gain And Loss [Line Items]
Foreign currency exchange gains (losses)	$ (8)	$ (120)	$ 76

Business Combinations (Detail) - USD ($)			1 Months Ended		12 Months Ended
Business Combinations (Detail) - USD ($)	Jun. 22, 2018	Apr. 01, 2018	Jun. 30, 2019	May 31, 2018	Apr. 29, 2018
Read Window Products LLC [Member]
Business Acquisition [Line Items]
Purchase price		$ 5,700,000
Payment for acquisition		$ 4,500,000
Contingent consideration arrangement, description					The Agreement contains a contingent consideration arrangement that requires us to pay a former shareholder of Read based on adjusted EBITDA as defined in the agreement for calendar year 2018 in excess of fifty percent of a pre-established adjusted EBITDA target as defined in the agreement.
Contingent consideration arrangement, basis for amount					Based on historical and projected financial results in relation to the pre-established adjusted EBITDA target, we currently believe a contingent payment will not be made, and therefore, no contingent liability has been recorded.
Contingent liability					$ 0
Goodwill, statutory period deductible for income tax purposes					15 years
Revenue					$ 880,000
Net income					$ 5,000
eLuxury [Member]
Business Acquisition [Line Items]
Contingent consideration arrangement, description					The agreement contains a contingent consideration arrangement that requires us to pay the seller based on adjusted EBITDA to be determined over a three year period in relation to a pre-established adjusted EBITDA target as defined in the agreement.
Customer Relationships [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, useful life					9 years
Selling, General and Administrative Expenses [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Business acquisition costs					$ 339,000
Minimum [Member] \| Equipment [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Property, plant and equipment, useful life					3 years
Maximum [Member] \| Equipment [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Property, plant and equipment, useful life					10 years
Subsequent Event [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Payment for acquisition				$ 375,000
Subsequent Event [Member] \| eLuxury [Member]
Business Acquisition [Line Items]
Purchase price	$ 12,500,000
Payment for acquisition	11,600,000
Purchase price based on provisions defined in agreement	$ 874,000
Scenario, Forecast [Member] \| Read Window Products LLC [Member]
Business Acquisition [Line Items]
Payment for acquisition			$ 763,000

Business Combinations - Schedule of Allocation of Acquisition Cost to Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 01, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Business Acquisition [Line Items]
Goodwill (Note 6)	$ 13,569		$ 11,462	$ 11,462	$ 11,462
Read Window Products LLC [Member]
Business Acquisition [Line Items]
Goodwill (Note 6)		$ 2,107
Inventory		1,128
Accounts receivable		897
Property, plant & equipment		379
Other assets		35
Deferred revenue		(903)
Accounts payable		(719)
Accrued expenses		(174)
Assets acquired and liabilities assumed, net		5,680
Read Window Products LLC [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Tradename (Note 8)	$ 683	683
Read Window Products LLC [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Customer relationships (Note 8)		$ 2,247

Business Combinations - Schedule of Unaudited Pro Forma Consolidated Results of Operations (Detail) - Read Window Products LLC [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017
Business Acquisition [Line Items]
Net Sales	$ 334,953	$ 321,398
Income from operations	26,799	30,441
Net income	$ 20,455	$ 22,552
Net income per share, basic	$ 1.65	$ 1.83
Net income per share, diluted	$ 1.62	$ 1.80

Accounts Receivable (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
customers	$ 28,097	$ 26,211
accounts receivable, net	26,307	24,577
Allowance for doubtful accounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
valuation allowance, balance	(357)	(414)	$ (1,088)	$ (851)
Reserve for returns and allowances and discounts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
valuation allowance, balance	$ (1,433)	$ (1,220)	$ (962)	$ (738)

Accounts Receivable - Allowance for Doubtful Accounts (Detail) - Allowance for doubtful accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Valuation and Qualifying Accounts Disclosure [Line Items]
beginning balance	$ (414)	$ (1,088)	$ (851)
provision for bad debts	57	222	(363)
write-offs, net of recoveries		452	126
ending balance	$ (357)	$ (414)	$ (1,088)

Accounts Receivable - Allowance for Returns and Allowances and Discounts (Detail) - Reserve for returns and allowances and discounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Valuation and Qualifying Accounts Disclosure [Line Items]
beginning balance	$ (1,220)	$ (962)	$ (738)
provision for returns and allowances and discounts	(3,295)	(3,061)	(2,825)
credits issued	3,082	2,803	2,601
ending balance	$ (1,433)	$ (1,220)	$ (962)

Inventories (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017
Inventory Disclosure [Abstract]
raw materials	$ 6,024	$ 6,456
work-in-process	3,264	3,095
finished goods	44,166	41,931
inventories	$ 53,454	$ 51,482

Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016
Property, Plant and Equipment [Line Items]
land and improvements	$ 963				$ 836
buildings and improvements	31,022				19,071
leasehold improvements	1,993				1,541
machinery and equipment	72,924				67,709
office furniture and equipment	9,514				8,936
capital projects in progress	2,086				12,901
property, plant and equipment, gross	118,502				110,994
accumulated depreciation and amortization	(66,708)				(59,343)
property, plant and equipment, net	$ 51,794	$ 51,838	$ 52,530	$ 52,912	$ 51,651	$ 50,333	$ 45,537	$ 41,745
land and improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	0 years
land and improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	10 years
buildings and improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	7 years
buildings and improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	40 years
leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	Shorter of life of lease or useful life.
machinery and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	3 years
machinery and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	12 years
office furniture and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	3 years
office furniture and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
depreciable lives	10 years

Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
Goodwill (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
beginning balance	$ 11,462	$ 11,462	$ 11,462
acquisition of assets	2,107
loss on impairment	0	0	0
ending balance	$ 13,569	$ 11,462	$ 11,462

Investment in Unconsolidated Joint Venture - Narrative (Detail) - USD ($)	3 Months Ended					12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Apr. 29, 2018	Apr. 30, 2017	Jan. 01, 2017
Schedule of Equity Method Investments [Line Items]
Loss from investment in unconsolidated joint venture	$ (17,000)	$ (56,000)	$ (75,000)	$ (118,000)	$ (23,000)	$ (266,000)	$ (23,000)
CLIH [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%					50.00%		50.00%
Unconsolidated joint venture, net loss						$ (532,000)	(46,000)
Loss from investment in unconsolidated joint venture						$ (266,000)	$ (23,000)

Investment in Unconsolidated Joint Venture - Summary of Equity Method Investment (Detail) - CLIH [Member] - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017
Schedule of Equity Method Investments [Line Items]
total assets	$ 3,130	$ 2,258
total liabilities	128	46
total members' equity	$ 3,002	$ 2,212

Other Assets (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Other Assets, Noncurrent [Abstract]
customer relationships, net	$ 2,839	$ 664	$ 715	$ 766
tradename	683
non-compete agreement, net	753	828	$ 903	$ 978
cash surrender value - life	393	376
other	564	526
other assets	$ 5,232	$ 2,394

Other Assets - Summary of Change in Carrying Amount of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Finite-Lived Intangible Assets [Line Items]
customer relationships, beginning balance	$ 664	$ 715	$ 766
customer relationships, ending balance	2,839	664	715
non-compete agreement, beginning balance	828	903	978
non-compete agreement, ending balance	753	828	903
Non-compete Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
amortization expense	(75)	(75)	(75)
loss on impairment	0	0	0
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
acquisition of assets	2,247
amortization expense	(72)	(51)	(51)
loss on impairment	$ 0	$ 0	$ 0

Other Assets - Narrative (Detail)	12 Months Ended
Other Assets - Narrative (Detail)	Apr. 29, 2018 USD ($) Contract	Apr. 01, 2018 USD ($)	Apr. 30, 2017 USD ($) Contract	May 01, 2016 USD ($)	May 03, 2015 USD ($)
Other Assets [Line Items]
customer relationships, net	$ 2,839,000		$ 664,000	$ 715,000	$ 766,000
Gross carrying amount of customer relationships	3,100,000		868,000
Gross carrying amount of non-compete agreement	$ 2,000,000		$ 2,000,000
Number of life insurance contracts owned \| Contract	1		1
Life insurance contracts, death benefits to insured	$ 1,400,000		$ 1,400,000
Life insurance contracts, cash surrender value	393,000		376,000
Prior Acquisition [Member]
Other Assets [Line Items]
customer relationships, net	613,000
Read Window Products LLC [Member] \| Trade Names [Member]
Other Assets [Line Items]
Tradename	683,000	$ 683,000
Customer Relationships [Member]
Other Assets [Line Items]
Accumulated amortization	276,000		204,000
Remaining amortization expense for the next fiscal year	301,000
Remaining amortization expense for the second fiscal year	301,000
Remaining amortization expense for the third fiscal year	301,000
Remaining amortization expense for the fourth fiscal year	301,000
Remaining amortization expense for the fifth fiscal year	301,000
Remaining amortization expense for the fiscal year thereafter	$ 1,334,000
Weighted average remaining amortization period	9 years 7 months 6 days
Customer Relationships [Member] \| Prior Acquisition [Member]
Other Assets [Line Items]
Useful life	17 years
Customer Relationships [Member] \| Read Window Products LLC [Member]
Other Assets [Line Items]
Fair market value of customer relationship		$ 2,247,000
Useful life	9 years
Non-compete Agreement [Member]
Other Assets [Line Items]
Accumulated amortization	$ 1,300,000		$ 1,200,000
Remaining amortization expense for the next fiscal year	75,000
Remaining amortization expense for the second fiscal year	75,000
Remaining amortization expense for the third fiscal year	75,000
Remaining amortization expense for the fourth fiscal year	75,000
Remaining amortization expense for the fifth fiscal year	75,000
Remaining amortization expense for the fiscal year thereafter	$ 378,000
Weighted average remaining amortization period	10 years
Non-compete Agreement [Member] \| Prior Acquisition [Member]
Other Assets [Line Items]
Useful life	15 years

Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017
Payables and Accruals [Abstract]
compensation, commissions and related benefits	$ 6,918	$ 10,188
advertising rebates	750	468
interest	20	51
other	2,400	1,240
accrued expenses	$ 10,088	$ 11,947

Accrued Expenses - Narrative (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017
Payables and Accruals [Abstract]
accrued expenses	$ 10,088	$ 11,947
current accrued expenses	9,325	$ 11,947
long-term accrued expenses	$ 763

Income Taxes - Allocation of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Income Tax Disclosure [Abstract]
income from operations	$ (6,217)	$ 8,208	$ 2,108	$ 1,640	$ 778	$ 643	$ 2,684	$ 3,233	$ 5,740	$ 7,339	$ 10,963
shareholders' equity, related to the tax benefit arising from stock based compensation										(657)	(841)
income tax expense (benefit), including tax effect from exercise of stock options and vesting of other stock-based compensation awards									$ 5,740	$ 6,682	$ 10,122

Income Taxes - Income Tax Expense (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 29, 2018

Jan. 28, 2018

Oct. 29, 2017

Jul. 30, 2017

Apr. 30, 2017

Jan. 29, 2017

Oct. 30, 2016

Jul. 31, 2016

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

current

federal

$ (1,367)

$ 109

state

$ 6

2017 Tax Cuts and Jobs Act

4,854

foreign

4,726

5,981

6,765

foreign - reversal of uncertain tax position

(3,431)

current income tax expense

8,222

2,672

6,771

deferred

federal

4,295

404

(1,205)

state

112

305

2017 Tax Cuts and Jobs Act

^[1]

(6,903)

undistributed earnings - foreign subsidiaries

(195)

(101)

(1,129)

U.S. operating loss carryforwards

3,630

5,467

foreign

734

1,086

valuation allowance

^[1]

116

(54)

(332)

deferred income tax expense

(2,482)

4,667

4,192

income tax expense

$ (6,217)

$ 8,208

$ 2,108

$ 1,640

$ 778

$ 643

$ 2,684

$ 3,233

$ 5,740

$ 7,339

$ 10,963

[1]	The income tax benefit of $6,903 includes a charge of $4,550 for the establishment of a valuation allowance against U.S. foreign tax credits that are more-likely-than not to be realized as a result of the 2017 Tax Cuts and Jobs Act.

Income Taxes - Income Tax Expense (Parenthetical) (Detail)
$ in Thousands

12 Months Ended

Apr. 29, 2018

USD ($)

2017 Tax Cuts and Jobs Act income tax benefit

$ 6,903

^[1]

establishment of valuation allowance

$ 4,550

^[2]

[1]	The income tax benefit of $6,903 includes a charge of $4,550 for the establishment of a valuation allowance against U.S. foreign tax credits that are more-likely-than not to be realized as a result of the 2017 Tax Cuts and Jobs Act.
[2]	The establishment of this valuation allowance pertains to U.S. foreign tax credits that are more-likely-than not to be realized as a result of the Tax Act.

Income Taxes - Income (Loss) before Income Taxes Related to Foreign and U.S. Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Income Taxes [Line Items]
income (loss) before income taxes, foreign									$ 17,360	$ 18,703	$ 17,715
income before income taxes	$ 6,466	$ 7,516	$ 6,159	$ 6,742	$ 6,999	$ 6,990	$ 7,159	$ 8,546	26,883	29,696	27,898
China [Member]
Income Taxes [Line Items]
income (loss) before income taxes, foreign									11,036	13,650	14,130
Canada [Member]
Income Taxes [Line Items]
income (loss) before income taxes, foreign									5,985	4,918	3,647
Poland [Member]
Income Taxes [Line Items]
income (loss) before income taxes, foreign										(19)	(62)
Cayman Islands [Member]
Income Taxes [Line Items]
income (loss) before income taxes, foreign									339	154
United States [Member]
Income Taxes [Line Items]
income (loss) before income taxes, domestic									$ 9,523	$ 10,993	$ 10,183

Income Taxes - Differences Between Income Tax Expense at Federal Income Tax Rate and Effective Income Tax Rate (Detail)	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Income Tax Disclosure [Abstract]
federal income tax rate									30.40%	34.00%	34.00%
tax effects of the 2017 Tax Cuts and Jobs Act									(7.60%)
tax effects of Chinese foreign exchange (losses) gains									(2.80%)	1.60%	4.40%
reversal of foreign uncertain income tax position										(11.60%)
tax effects of stock-based compensation									(1.80%)
undistributed earnings from foreign subsidiaries									3.70%
other									(0.50%)	0.70%	0.90%
Effective income tax rate	(96.10%)	109.20%	34.20%	24.30%	11.10%	9.20%	37.50%	37.80%	21.40%	24.70%	39.30%

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Thousands

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

May 03, 2015

deferred tax assets:

accounts receivable

$ 316

$ 447

inventories

2,217

2,196

compensation

3,438

6,222

liabilities and other

117

890

foreign income tax credits -U.S.

5,720

44,917

alternative minimum tax credit -U.S.

1,428

loss carryforwards - U.S.

^[1]

226

245

2,513

3,842

loss carryforwards - foreign

unrecognized tax benefits - U.S.

(3,842)

valuation allowances

(5,204)

(536)

$ (590)

$ (922)

total deferred tax assets

9,419

55,882

deferred tax liabilities:

undistributed earnings on foreign subsidiaries

(4,256)

(43,978)

unrecognized tax benefits - U.S.

(380)

(7,936)

^[2]

(4,352)

(5,546)

total deferred tax liabilities

(1,046)

(1,478)

other

(77)

(118)

(10,111)

(59,056)

net deferred liabilities

$ (692)

$ (3,174)

[1]	Pertains to the company's operations located in China.
[2]	Pertains to the company's operations located in the U.S. and Canada.

Income Taxes - Deferred Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017
Income Taxes [Line Items]
U.S. foreign income tax credits	$ 5,720	$ 44,917
U.S. foreign income tax credits, expiration period	10 years
U.S. Tax Authorities [Member]
Income Taxes [Line Items]
Operating loss carryforwards	$ 11,500
Operating loss carryforwards, related future tax benefits	$ 2,500
Earliest Tax Year [Member] \| U.S. Tax Authorities [Member]
Income Taxes [Line Items]
Operating loss carryforwards, expiration fiscal year	2027
Latest Tax Year [Member] \| U.S. Tax Authorities [Member]
Income Taxes [Line Items]
Operating loss carryforwards, expiration fiscal year	2035

Income Taxes - 2017 Tax Cuts and Jobs Act - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 28, 2019	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Income Taxes [Line Items]
Federal statutory income tax rate		30.40%	34.00%	34.00%
Provisional charge for re-measurement of U.S. net deferred income taxes		$ 2.2
Provisional income tax effects of the Transition Tax		4.3
Provisional benefit for release of deferred income tax liabilities related to earnings and profits not permanently reinvested		18.0
Provisional charge for reduction in U.S. Federal income tax rate pursuant to the Tax Act on effective settlement of IRS exam		11.7
Provisional charge for write-off and establishment of valuation allowance against unused foreign tax credits		$ 25.4
Transition Tax payable period		8 years
Scenario, Forecast [Member]
Income Taxes [Line Items]
Federal statutory income tax rate	21.00%

Income Taxes - Summary of Valuation Allowances Against Deferred Income Taxes (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Valuation Allowance [Line Items]
valuation allowance	$ 5,204	$ 536	$ 590	$ 922
U.S. State Tax [Member] \| Loss Carryforwards and Credits [Member]
Valuation Allowance [Line Items]
valuation allowance	578	464
U.S. [Member] \| Income Tax Credits [Member]
Valuation Allowance [Line Items]
valuation allowance	4,550
Poland [Member] \| Loss Carryforwards [Member]
Valuation Allowance [Line Items]
valuation allowance	$ 76	$ 72

Income Taxes - Summary of Change in Valuation Allowances Against Deferred Income Taxes (Detail) - USD ($)
$ in Thousands

12 Months Ended

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

Valuation Allowance [Line Items]

beginning balance

$ 536

$ 590

$ 922

establishment of valuation allowance

^[1]

4,550

ending balance

5,204

536

590

Valuation Allowance, Deferred Income Taxes [Member]

Valuation Allowance [Line Items]

change in estimate

^[2]

$ 118

$ (54)

$ (332)

[1]	The establishment of this valuation allowance pertains to U.S. foreign tax credits that are more-likely-than not to be realized as a result of the Tax Act.
[2]	Amounts pertain to a change in estimate of the recoverability of certain deferred income tax assets as of the end of the respective prior fiscal year.

Income Taxes - Deferred Income Taxes - Undistributed Earnings from Foreign Subsidiaries - Narrative (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2017	Apr. 28, 2019	Apr. 29, 2018	Apr. 30, 2017
Income Taxes [Line Items]
Undistributed earnings from our foreign subsidiaries that will not be reinvested indefinitely	$ 156,700
U.S. foreign income tax credits	$ 42,200
Deferred tax liability, undistributed earnings from foreign subsidiaries			$ 4,256	$ 43,978
Scenario, Forecast [Member]
Income Taxes [Line Items]
Dividends received deduction percentage for earnings and profits received from foreign corporation		100.00%
Dividends received deduction, foreign corporation ownership percentage		10.00%

Income Taxes - Unrecognized Tax Benefit (Detail) - USD ($)
$ in Thousands

12 Months Ended

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

increases from prior period tax positions

beginning balance

$ 12,245

$ 14,897

$ 14,141

350

854

454

decreases from prior period tax positions

^[1]

(11,751)

(3,506)

(77)

increases from current period tax positions

379

ending balance

$ 844

$ 12,245

$ 14,897

[1]

Income Taxes - Unrecognized Tax Benefit (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017
Income Tax Disclosure [Abstract]
Reduction to unrecognized tax benefits resulting from reduction in U.S. Federal income tax rate pursuant to Tax Act	$ 11,751
Reduction to unrecognized tax benefits resulting from a lapse of the applicable statute of limitations		$ 3,506

Income Taxes - Uncertainty in Income Taxes - Narrative (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 29, 2018	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Income Taxes [Line Items]
Unrecognized tax benefits that would favorably impact effective income tax rate if recognized	$ 465,000	$ 465,000	$ 467,000
Unrecognized tax benefits	844,000	844,000	12,245,000	$ 14,897,000	$ 14,141,000
Gross amount of interest and penalties due to unrecognized tax benefits	40,000	40,000	50,000
Non-current Deferred Income Taxes [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	379,000	379,000	11,800,000
Income Taxes Payable - Long-Term [Member]
Income Taxes [Line Items]
Unrecognized tax benefits	465,000	$ 465,000	$ 467,000
Canadian Provincial (Quebec) Returns [Member]
Income Taxes [Line Items]
Income tax examination, final adjustments	4,000
U.S. [Member]
Income Taxes [Line Items]
Income tax examination, final adjustments	$ 0
Earliest Tax Year [Member] \| Canadian Provincial (Quebec) Returns [Member]
Income Taxes [Line Items]
Income tax examination, year under examination		2013
Earliest Tax Year [Member] \| U.S. [Member]
Income Taxes [Line Items]
Income tax examination, year under examination		2014
Latest Tax Year [Member] \| Canadian Provincial (Quebec) Returns [Member]
Income Taxes [Line Items]
Income tax examination, year under examination		2015
Latest Tax Year [Member] \| U.S. [Member]
Income Taxes [Line Items]
Income tax examination, year under examination		2016

Income Taxes - Income Taxes Paid - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Income Tax Disclosure [Abstract]
Income tax payments, net of income tax refunds	$ 4.0	$ 5.5	$ 6.7

Lines of Credit - Narrative (Detail)	12 Months Ended
Lines of Credit - Narrative (Detail)	Apr. 29, 2018 USD ($)	Apr. 30, 2017 USD ($)	May 01, 2016 USD ($)	Apr. 29, 2018 CNY (¥)	Aug. 03, 2016 USD ($)	Aug. 01, 2016 USD ($)
Line of Credit Facility [Line Items]
Interest paid during the year	$ 181,000	$ 114,000	$ 95,000
United States [Member] \| Third Amendment to Credit Agreement [Member]
Line of Credit Facility [Line Items]
Maximum amount of letters of credit						$ 7,500,000
Letters of credit outstanding, additional amount	$ 1,250,000				$ 5,000,000
Letter of credit expiration date	May 15, 2018
United States [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 30,000,000
Interest rate description	Interest was charged at a rate as a variable spread over LIBOR based on our ratio of debt to EBITDA.
Applicable interest rate at end of period	3.36%	2.45%		3.36%
Expiration date	Aug. 15, 2018
Reference rate on which the interest rate is based	LIBOR
Percentage of common stock in subsidiary pledge as collateral	65.00%
Outstanding amount	$ 0	$ 0
Letters of credit, outstanding amount	250,000	250,000
China [Member] \| Revolving credit agreement [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 6,300,000			¥ 40,000,000
Interest rate description	This agreement bears interest rate determined by the Chinese government
Expiration date	Mar. 02, 2019
Outstanding amount	$ 0	$ 0		¥ 0

Commitments and Contingencies (Detail)			1 Months Ended		12 Months Ended
Commitments and Contingencies (Detail)	Apr. 01, 2018 USD ($) Option	May 16, 2016 USD ($)	May 31, 2018 USD ($)	Apr. 30, 2016 USD ($)	Apr. 29, 2018 USD ($)	Apr. 30, 2017 USD ($)	May 01, 2016 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Rental expense for operating leases					$ 3,000,000	$ 2,900,000	$ 3,000,000
Future minimum rental commitments for noncancellable operating leases in fiscal 2019					2,600,000
Future minimum rental commitments for noncancellable operating leases in fiscal 2020					1,900,000
Future minimum rental commitments for noncancellable operating leases in fiscal 2021					1,100,000
Future minimum rental commitments for noncancellable operating leases in fiscal 2022					181,000
Future minimum rental commitments for noncancellable operating leases in fiscal 2023					10,000
Accounts payable for capital expenditures					1,800,000	6,100,000
Accounts payable for capital expenditures, current					1,776,000	4,767,000
Accounts payable for capital expenditures, noncurrent						1,322,000
buildings and improvements [Member]
Commitments and Contingencies Disclosure [Line Items]
Amount financed for construction of building					1,400,000	5,100,000
Amount financed for construction of building required to be paid in fiscal 2019					$ 1,800,000
Minimum [Member]
Commitments and Contingencies Disclosure [Line Items]
Lease terms					1 year
Maximum [Member]
Commitments and Contingencies Disclosure [Line Items]
Lease terms					5 years
Lease terms, renewal options for additional periods					12 years
Read Window Products LLC [Member]
Commitments and Contingencies Disclosure [Line Items]
Lease terms	3 years
Lease terms, renewal options for additional periods	3 years
Monthly lease payments of a plant facility	$ 18,000
Lease expiration date	Mar. 31, 2021
Lease number of renewal options \| Option	4
Rental payments					$ 18,000
Mattress Fabrics [Member]
Commitments and Contingencies Disclosure [Line Items]
Monthly lease payments of a plant facility					13,000
Mattress Fabrics [Member] \| Plant facility [Member]
Commitments and Contingencies Disclosure [Line Items]
Rental payments					156,000	156,000	$ 156,000
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member]
Commitments and Contingencies Disclosure [Line Items]
Open purchase commitments					3,400,000
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member] \| buildings and improvements [Member]
Commitments and Contingencies Disclosure [Line Items]
Open purchase commitments					1,400,000
Contractual obligation, current cost		$ 11,300,000
Contractual obligation paid				$ 1,900,000	$ 3,700,000	$ 4,300,000
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member] \| buildings and improvements [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Commitments and Contingencies Disclosure [Line Items]
Percentage rate added to variable rate					2.25%
Variable interest rate					30 day LIBOR rate
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member] \| buildings and improvements [Member] \| Letter of Credit [Member]
Commitments and Contingencies Disclosure [Line Items]
Letter of credit		$ 5,000,000
Unused fee calculated on letter of credit		0.10%
Mattress Fabrics [Member] \| Capital Addition Purchase Commitments [Member] \| Subsequent Event [Member] \| buildings and improvements [Member]
Commitments and Contingencies Disclosure [Line Items]
Contractual obligation paid			$ 1,400,000

Stock-Based Compensation - Narrative (Detail) - USD ($)	3 Months Ended	12 Months Ended
Stock-Based Compensation - Narrative (Detail) - USD ($)	Jul. 30, 2017	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	Sep. 16, 2015	May 03, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase common stock outstanding			15,600	83,600		140,100
2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized for issuance					1,200,000
Number of shares available for future equity based grants		978,908
2007 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future equity based grants					0
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized compensation cost		$ 1,300,000
Weighted average period over which unrecognized compensation cost is expected to be recognized		1 year 3 months 18 days
Incentive Stock Option Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase common stock outstanding		0
Number of options exercisable		0
Unrecognized compensation cost related to incentive stock options		$ 0
Share-based compensation expense		0	$ 0	$ 0
Aggregate intrinsic value for options exercised		$ 393,000	1,700,000	1,300,000
Time Vested Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested		1,200
Remaining unrecognized compensation cost		$ 5,000
Weighted average period over which unrecognized compensation cost is expected to be recognized		1 month 15 days
Time Vested Restricted Stock Awards [Member] \| Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	1,200
Weighted average fair value of vested shares	$ 34,000
Weighted average fair value of vested shares, per share	$ 28
Selling, General and Administrative Expenses [Member] \| Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 2,000,000	3,200,000	2,600,000
Selling, General and Administrative Expenses [Member] \| Common Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		159,000	143,000	95,000
Selling, General and Administrative Expenses [Member] \| Time Vested Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 38,000	$ 29,000	$ 0

Stock-Based Compensation - Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Shares
outstanding at beginning of year	15,600	83,600	140,100
granted	0	0	0
exercised	(15,600)	(68,000)	(54,500)
canceled/expired			(2,000)
outstanding at end of year		15,600	83,600
Weighted-Average Exercise Price
outstanding at beginning of year	$ 7.14	$ 8.37	$ 6.49
granted	0	0	0
exercised	$ 7.14	8.65	3.68
canceled/expired			4.59
outstanding at end of year		$ 7.14	$ 8.37

Stock-Based Compensation - Time Vested Restricted Stock Activity (Detail) - Time Vested Restricted Stock Awards [Member] - shares	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
outstanding at beginning of year	1,200
granted	1,200	1,200
vested	(1,200)
outstanding at end of year	1,200	1,200

Stock-Based Compensation - Summary of Grants of Time-Based Restricted Stock Awards Associated with Key Member of Management (Detail) - Time Vested Restricted Stock Awards [Member] - $ / shares			12 Months Ended
	Jul. 13, 2017	Jun. 14, 2016	Apr. 29, 2018	Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Awarded			1,200	1,200
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Awarded	1,200	1,200
Price Per Share	$ 32.50	$ 28.00
Vesting Period	11 months	11 months

Stock-Based Compensation - Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units (Detail) - Performance Based Restricted Stock Units [Member] - NEOs [Member]	Jul. 13, 2017 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of our common stock	$ 32.5
Expected volatility of our common stock	31.00%
Expected volatility of peer companies	16.50%
Risk-free interest rate	1.56%
Dividend yield	1.66%
Correlation coefficient of peer companies	46.00%

Stock-Based Compensation - Summary of Grants of Performance Based Restricted Stock Units Associated with NEOs and Key Employees (Detail) - Performance Based Restricted Stock Units [Member] - $ / shares

Jul. 13, 2017

Jul. 14, 2016

Jul. 15, 2015

NEOs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[1],[2]

78,195

^[2],[3]

$ 31.85

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[2]

3 years

Employee [Member]

^[1],[4]

44,000

^[4],[5]

$ 32.50

NEOs and Key Employees [Member]

^[4]

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[1],[2],[4]

107,880

107,554

^[2],[4],[5]

$ 28.00

$ 32.23

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[2],[4]

3 years

[1]	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.
[2]	Performance-based restricted stock units awarded to NEOs.
[3]	Price per share represents the fair market value per share ($0.98 per $1 or a reduction of $0.65 to the closing price of the our common stock) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($32.50) for the performance-based components of the performance-based restricted stock units granted to our NEOs on July 13, 2017.
[4]	Performance-based restricted stock units awarded to key employees.
[5]	Price per share represents the closing price of our common stock on the date of grant.

Stock-Based Compensation - Summary of Grants of Performance Based Restricted Stock Units Associated with NEOs and Key Employees (Parenthetical) (Detail) - Performance Based Restricted Stock Units [Member] - NEOs [Member]	Jul. 13, 2017 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value adjustment to closing price of common stock, percentage	98.00%
Fair value adjustment to closing price of common stock, per share	$ (0.65)
Closing price of common stock	$ 32.5

Stock-Based Compensation - Summary of Grants of Performance Based Restricted Stock Units Associated with Non-Employee (Detail) - Performance Based Restricted Stock Units [Member] - Non-employee [Member] - $ / shares

Jul. 13, 2017

Jul. 14, 2016

Jul. 15, 2015

Apr. 29, 2018

^[1]

10,200

11,549

10,364

Granted on July 13, 2017 [Member]

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted on July 14, 2016 [Member]

^[2]

$ 30.10

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Granted on July 15, 2015 [Member]

^[2]

30.10

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

NEOs and Key Employees [Member]

^[2]

$ 30.10

[1]	Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements.
[2]	The respective grant was unvested at the end of our reporting period. Accordingly, the price per share represents the closing price of our common stock on April 29, 2018, the end of our reporting period.

Stock-Based Compensation - Summary of Vested Performance Based Restricted Stock Units (Detail) - Performance Based Restricted Stock Units [Member] - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock Shares Vested

^[1]

102,845

37,192

115,855

Weighted Average Fair Value

^[1],[2]

$ 1,820

$ 637

$ 1,183

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[1],[3]

$ 17.70

$ 17.12

$ 10.21

Non-employee [Member]

Common Stock Shares Vested

^[4]

16,000

12,000

Weighted Average Fair Value

^[2],[4]

$ 520

$ 345

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[4],[5]

$ 32.50

$ 28.77

[1]	NEOs and key employees.
[2]	Dollar amounts are in thousands.
[3]	Price per share represents closing price of our common stock on the date of grant.
[4]	Non-employee
[5]	The respective grants vested during the first quarter of fiscal 2018 or 2017, respectively. Accordingly, the price per share represents the closing price of our common stock on the date the award vested.

Stock-Based Compensation - Summary of Grants of Common Stock to Outside Directors (Detail) - Common Stock Awards [Member] - Outside Directors [Member] - Immediate Vesting [Member] - $ / shares

12 Months Ended

Oct. 02, 2017

Oct. 03, 2016

Oct. 01, 2015

Common Stock Awarded

4,800

3,000

Revenues from External Customers and Long-Lived Assets [Line Items]

^[1]

$ 33.20

$ 29.80

$ 31.77

[1]	Price per share represents closing price of our common stock on the date of grant.

Fair Value of Financial Instruments - Nonrecurring Basis (Detail) - USD ($) $ in Thousands	Apr. 29, 2018	Apr. 01, 2018	Apr. 30, 2017	May 01, 2016	May 03, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
goodwill	$ 13,569		$ 11,462	$ 11,462	$ 11,462
Read Window Products LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
goodwill		$ 2,107
Inventory		1,128
Equipment		379
Liabilities measured at fair value on a nonrecurring basis	0
Read Window Products LLC [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
goodwill	2,107
Inventory	1,128
Read Window Products LLC [Member] \| Customer Relationships [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Relationships		2,247
Read Window Products LLC [Member] \| Customer Relationships [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Relationships	2,247
Read Window Products LLC [Member] \| Trade Names [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tradename	683	$ 683
Read Window Products LLC [Member] \| Trade Names [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tradename	683
Equipment [Member] \| Read Window Products LLC [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equipment	379
Quoted prices in active markets for identical assets - Level 1 [Member] \| Read Window Products LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value on a nonrecurring basis	0
Significant other observable inputs - Level 2 [Member] \| Read Window Products LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value on a nonrecurring basis	0
Significant unobservable inputs - Level 3 [Member] \| Read Window Products LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value on a nonrecurring basis	0
Significant unobservable inputs - Level 3 [Member] \| Read Window Products LLC [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
goodwill	2,107
Inventory	1,128
Significant unobservable inputs - Level 3 [Member] \| Read Window Products LLC [Member] \| Customer Relationships [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Relationships	2,247
Significant unobservable inputs - Level 3 [Member] \| Read Window Products LLC [Member] \| Trade Names [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tradename	683
Significant unobservable inputs - Level 3 [Member] \| Equipment [Member] \| Read Window Products LLC [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equipment	$ 379

Derivatives - Schedule of Fair Value of Derivative Instruments (Detail) $ in Thousands	Apr. 29, 2018 USD ($)
Accrued Expenses [Member] \| Derivatives Designated as Hedging Instruments [Member] \| EURO Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value	$ 55

Derivatives - Schedule of Gains and Losses on Derivative Instruments (Detail) - Derivatives Designated as Hedging Instruments [Member] - EURO Foreign Exchange Contract [Member] - USD ($) $ in Thousands	12 Months Ended
	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amt of Gain (Loss) (net of tax) Recognized in OCI on Derivative (Effective Portion) and recorded in Accrued Expenses at Fair Value	$ (55)
Other Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	0	$ 0	$ 0
Amount of Gain (loss) (net of tax) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	$ 0	$ 0	$ 0

Derivatives - Narrative (Detail) - Derivatives Designated as Hedging Instruments [Member] - EURO Foreign Exchange Contract [Member]	3 Months Ended
	Apr. 29, 2018
Derivatives, Fair Value [Line Items]
Derivative exchange rate, EURO to U.S. Dollar	1.263
Derivative contract expiration	2018-08

Net Income Per Share - Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Earnings Per Share [Abstract]
weighted-average common shares outstanding, basic	12,450	12,436	12,440	12,399	12,340	12,313	12,308	12,286	12,431	12,312	12,302
dilutive effect of stock-based compensation									202	206	173
weighted-average common shares outstanding, diluted	12,611	12,436	12,580	12,590	12,567	12,544	12,507	12,463	12,633	12,518	12,475

Benefit plans (Detail) - USD ($)	12 Months Ended
Benefit plans (Detail) - USD ($)	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Retirement Benefits [Abstract]
Contributions to defined contribution plans	$ 1,100,000	$ 924,000	$ 843,000
Contributions to nonqualified deferred compensation plan	192,000	185,000	$ 180,000
deferred compensation	7,353,000	5,520,000
long-term investments - rabbi trust	$ 7,326,000	$ 5,466,000

- Definition

Investments in debt and equity securities which are categorized neither as held-to-maturity nor trading and which are intended to be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.

+ References + Details

Segment Information - Narrative (Detail)			12 Months Ended
Segment Information - Narrative (Detail)	Apr. 29, 2018 Customer	Apr. 30, 2017 Customer	Apr. 29, 2018 Customer Segment	Apr. 30, 2017 Customer	May 01, 2016 Customer
Segment Reporting Information [Line Items]
Number of business segments \| Segment			2
Concentration risk, labor subject to collective bargaining arrangements			The hourly employees at our manufacturing facility in Canada (approximately 12% of our workforce) are represented by a local, unaffiliated union. The collective bargaining agreement for these employees expires on February 1, 2020. We are not aware of any efforts to organize any more of our employees, and we believe our relations with our employees are good.
Currency Concentration Risk [Member] \| Net sales [Member] \| USD [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage			90.00%	92.00%	93.00%
Geographic Concentration Risk [Member] \| Net sales [Member] \| International [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage			23.00%	22.00%	22.00%
Customer Concentration Risk [Member] \| Net sales [Member] \| Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage			12.00%	11.00%	13.00%
Number of major customers			1	1	1
Customer Concentration Risk [Member] \| Net sales [Member] \| Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage			13.00%	13.00%	13.00%
Number of major customers			1	1	1
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	13.00%
Number of major customers	1	0
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Upholstery Fabrics [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage		10.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	20.00%	22.00%
Number of major customers	2	2
Unionized Employees Concentration Risk [Member] \| Workforce [Member] \| Canada [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage			12.00%

Segment Information - International net sales (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 29, 2018

Jan. 28, 2018

Oct. 29, 2017

Jul. 30, 2017

Apr. 30, 2017

Jan. 29, 2017

Oct. 30, 2016

Jul. 31, 2016

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

North america (excluding USA) [Member]

$ 78,184

$ 85,310

$ 80,698

$ 79,533

$ 77,350

$ 76,169

$ 75,343

$ 80,682

$ 323,725

$ 309,544

$ 312,860

Revenues from External Customers and Long-Lived Assets [Line Items]

Far east and asia [Member]

^[1]

27,844

29,995

31,667

Revenues from External Customers and Long-Lived Assets [Line Items]

Revenues from External Customers and Long-Lived Assets [Line Items]

^[2]

40,671

34,695

31,927

All other areas [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

5,681

3,618

4,336

International [Member]

$ 74,196

$ 68,308

$ 67,930

[1]	Of this amount, $21.9 million, $22.3 million, and $24.2 million are attributable to shipments to Mexico in fiscal 2018, 2017, and 2016, respectively.
[2]	Of this amount $32.6 million, $26.6 million, and $23.1 million are attributable to shipments to China in fiscal 2018, 2017, and 2016, respectively.

Segment Information - International net sales (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
net sales	$ 78,184	$ 85,310	$ 80,698	$ 79,533	$ 77,350	$ 76,169	$ 75,343	$ 80,682	$ 323,725	$ 309,544	$ 312,860
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
net sales									21,900	22,300	24,200
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
net sales									$ 32,600	$ 26,600	$ 23,100

Segment Information - Statement of Operations for Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Segment Reporting Information [Line Items]
net sales	$ 78,184	$ 85,310	$ 80,698	$ 79,533	$ 77,350	$ 76,169	$ 75,343	$ 80,682	$ 323,725	$ 309,544	$ 312,860
gross profit	14,760	17,603	15,804	16,465	17,156	16,759	16,901	18,419	64,633	69,235	65,111
selling, general, and administrative expenses	8,296	9,959	9,415	9,501	9,986	9,824	9,602	9,746	37,172	39,157	36,773
income from operations	6,464	7,644	6,389	6,964	7,170	6,935	7,299	8,673	27,461	30,078	28,338
interest expense	(26)	(31)	(37)						(94)
interest income	143	132	128	131	134	124	15	25	534	299	176
other expense	(115)	(229)	(321)	(353)	(305)	(69)	(155)	(152)	(1,018)	(681)	(616)
income before income taxes	$ 6,466	$ 7,516	$ 6,159	$ 6,742	$ 6,999	$ 6,990	$ 7,159	$ 8,546	26,883	29,696	27,898
Operating Segments [Member]
Segment Reporting Information [Line Items]
income from operations									36,817	40,471	37,794
Operating Segments [Member] \| Upholstery Fabrics [Member]
Segment Reporting Information [Line Items]
net sales									131,128	118,739	126,441
gross profit									25,836	26,170	26,393
selling, general, and administrative expenses									14,881	15,079	15,094
income from operations									10,956	11,091	11,298
Operating Segments [Member] \| Mattress Fabrics [Member]
Segment Reporting Information [Line Items]
net sales									192,597	190,805	186,419
gross profit									38,797	43,065	38,718
selling, general, and administrative expenses									12,935	13,685	12,223
income from operations									25,861	29,380	26,496
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
selling, general, and administrative expenses									9,356	10,393	9,456
income from operations									$ (9,356)	$ (10,393)	$ (9,456)

Segment Information - Balance Sheet Information by Operating Segments (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Apr. 29, 2018

Jan. 28, 2018

Oct. 29, 2017

Jul. 30, 2017

Apr. 30, 2017

Jan. 29, 2017

Oct. 30, 2016

Jul. 31, 2016

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

May 03, 2015

non-compete agreements, net

$ 753

$ 828

$ 753

$ 828

$ 903

$ 978

customer relationships

2,839

664

2,839

664

715

766

investment in unconsolidated joint venture

13,569

11,462

13,569

11,462

1,501

1,106

1,501

1,106

51,794

$ 51,838

$ 52,530

$ 52,912

51,651

$ 50,333

$ 45,537

$ 41,745

51,794

51,651

cash and cash equivalents

217,984

216,844

201,043

207,904

205,634

191,056

179,127

183,360

217,984

205,634

175,142

tradename

683

21,228

20,795

21,228

20,795

37,787

$ 29,725

short-term investments - available for sale

2,451

2,443

2,451

2,443

short-term investments - held-to-maturity

25,759

deferred income taxes

1,458

419

1,458

419

other current assets

2,870

2,894

2,870

2,894

long-term investments - held-to-maturity

5,035

30,945

5,035

30,945

long-term investments - rabbi trust

7,326

5,466

7,326

5,466

other assets

5,232

2,394

5,232

2,394

Operating Segments [Member]

1,568

1,274

1,529

3,068

3,097

6,590

5,541

3,543

7,439

^[1]

18,771

^[1]

10,708

^[1]

Depreciation expense

1,992

$ 1,966

$ 1,905

$ 1,807

1,781

$ 1,793

$ 1,751

$ 1,761

7,672

7,085

6,671

Operating Segments [Member] | Mattress Fabrics [Member]

150,348

140,914

150,348

140,914

122,136

non-compete agreements, net

current assets

^[2]

43,935

47,038

43,935

47,038

43,472

753

828

753

828

903

customer relationships

613

664

613

664

715

investment in unconsolidated joint venture

11,462

1,501

1,106

1,501

1,106

48,797

^[3]

48,916

^[4]

48,797

^[3]

48,916

^[4]

37,480

^[5]

107,061

110,014

107,061

110,014

94,032

Operating Segments [Member] | Upholstery Fabrics [Member]

6,713

17,689

9,666

Depreciation expense

6,850

6,245

5,837

current assets

^[2]

35,826

29,021

35,826

29,021

26,540

customer relationships

2,226

2,107

2,445

^[6]

1,879

^[7]

2,445

^[6]

1,879

^[7]

1,564

^[8]

43,287

30,900

43,287

30,900

28,104

tradename

683

Unallocated Corporate [Member]

488

822

626

Depreciation expense

822

840

834

cash and cash equivalents

^[9]

552

856

552

856

929

21,228

20,795

21,228

20,795

37,787

short-term investments - available for sale

2,451

2,443

2,451

2,443

4,359

short-term investments - held-to-maturity

25,759

income taxes receivable

155

deferred income taxes

1,458

419

1,458

419

2,319

other current assets

2,870

2,894

2,870

2,894

2,477

long-term investments - held-to-maturity

5,035

30,945

5,035

30,945

long-term investments - rabbi trust

7,326

5,466

7,326

5,466

4,025

other assets

$ 957

$ 902

957

902

955

$ 238

$ 260

$ 416

[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]	Current assets represent accounts receivable and inventory.
[3]	The $48.8 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $35.4 million and located in Canada of $13.4 million.
[4]	The $48.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $34.0 million and located in Canada of $14.9 million.
[5]	The $37.5 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $24.8 million and located in Canada of $12.7 million.
[6]	The $2.4 million at April 29, 2018, represents property, plant, and equipment located in the U.S. of $1.8 million and located in China of $661.
[7]	The $1.9 million at April 30, 2017, represents property, plant, and equipment located in the U.S. of $1.2 million and located in China of $655.
[8]	The $1.6 million at May 1, 2016, represents property, plant, and equipment located in the U.S. of $893 and located in China of $671.
[9]	The $552, $856, and $929 balance at April 29, 2018, April 30, 2017, and May 1, 2016, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments located in the U.S.

Segment Information - Balance Sheet Information by Operating Segments (Parenthetical) (Detail) - USD ($)
$ in Thousands

Apr. 29, 2018

Jan. 28, 2018

Oct. 29, 2017

Jul. 30, 2017

Apr. 30, 2017

Jan. 29, 2017

Oct. 30, 2016

Jul. 31, 2016

May 01, 2016

United States [Member] | Mattress Fabrics [Member]

$ 51,794

$ 51,838

$ 52,530

$ 52,912

$ 51,651

$ 50,333

$ 45,537

$ 41,745

United States [Member] | Upholstery Fabrics [Member]

35,400

34,000

$ 24,800

Canada [Member] | Mattress Fabrics [Member]

1,800

1,200

893

China [Member] | Upholstery Fabrics [Member]

13,400

14,900

12,700

Unallocated Corporate [Member]

661

655

671

Unallocated Corporate [Member] | United States [Member]

^[1]

552

856

929

$ 552

$ 856

$ 929

[1]	The $552, $856, and $929 balance at April 29, 2018, April 30, 2017, and May 1, 2016, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments located in the U.S.

Statutory Reserves (Detail) - Subsidiaries [Member] - China [Member] $ in Millions	12 Months Ended
	Apr. 29, 2018 USD ($)
Statutory Reserve [Line Items]
Percentage of net income required to be transferred to a statutory surplus reserve fund	10.00%
Maximum required percentage of statutory surplus reserve fund to registered capital	50.00%
Statutory surplus reserve fund balance	$ 4.6
Percentage of accumulated earnings and profits determined in accordance with PRC accounting rules and regulations	10.00%
Minimum threshold percentage for statutory surplus reserve fund as percentage of registered capital, below which certain capital transactions are prohibited	25.00%

Common Stock Repurchase Program (Detail) - USD ($)	12 Months Ended
Common Stock Repurchase Program (Detail) - USD ($)	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016	Jun. 15, 2016
Stockholders Equity Note [Line Items]
Cost of common stock repurchased			$ 2,397,000
Common Stock [Member]
Stockholders Equity Note [Line Items]
Common stock repurchased	0	0	100,776
Cost of common stock repurchased			$ 5,000
Common Stock Repurchase Program June 15, 2016 [Member] \| Common Stock [Member]
Stockholders Equity Note [Line Items]
Authorization amount for repurchase of common stock				$ 5,000,000
Remaining authorized repurchase amount	$ 5,000,000

Dividend Program (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended									12 Months Ended
	Jun. 13, 2018	Apr. 29, 2018	Jan. 28, 2018	Oct. 29, 2017	Jul. 30, 2017	Apr. 30, 2017	Jan. 29, 2017	Oct. 30, 2016	Jul. 31, 2016	Aug. 02, 2015	Apr. 29, 2018	Apr. 30, 2017	May 01, 2016
Dividends [Line Items]
Cash dividends paid		$ 1,121	$ 1,119	$ 995	$ 3,608	$ 988	$ 985	$ 862	$ 3,445		$ 6,843	$ 6,280	$ 8,140
Cash dividend payment, per share		$ 0.09	$ 0.09	$ 0.08	$ 0.29	$ 0.08	$ 0.08	$ 0.07	$ 0.28
Special Dividend [Member]
Dividends [Line Items]
Cash dividends paid									$ 2,600	$ 5,000	$ 2,600
Cash dividend payment, per share									$ 0.21	$ 0.40	$ 0.21
Quarterly Dividend [Member]
Dividends [Line Items]
Cash dividends paid											$ 4,200	$ 3,700	$ 3,100
Quarterly Dividend [Member] \| Minimum [Member]
Dividends [Line Items]
Cash dividend payment, per share											$ 0.08	$ 0.07	$ 0.06
Quarterly Dividend [Member] \| Maximum [Member]
Dividends [Line Items]
Cash dividend payment, per share											$ 0.09	$ 0.08	$ 0.07
Subsequent Event [Member] \| Quarterly Dividend [Member]
Dividends [Line Items]
Cash dividend declared, per share	$ 0.09
Date of payment to shareholders entitled to dividends	Jul. 16, 2018
Date of record of shareholders entitled to dividends	Jul. 02, 2018

Exit and Disposal Activities (Detail) - Upholstery Fabrics [Member] - USD ($)		4 Months Ended	12 Months Ended
	Jun. 12, 2018	Oct. 30, 2018	Apr. 29, 2018
Facility Closing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Description of exit and disposal activities			On June 12, 2018, our board of directors decided to close our upholstery fabrics manufacturing facility in Anderson, South Carolina. This closure is due to a continued decline in demand for the products manufactured at this facility, reflecting a change in consumer style preferences. We expect to close the facility by October 30, 2018.
Facility Closing [Member] \| Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expected date to close the facility	Oct. 30, 2018
Carrying amount of long-lived assets	$ 400,000
Employee Termination Costs [Member] \| Scenario, Forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Exit and disposal activities, estimated cash charges		$ 450,000

Selected Quarterly Data (Unaudited) (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Apr. 29, 2018

Jan. 28, 2018

Oct. 29, 2017

Jul. 30, 2017

Apr. 30, 2017

Jan. 29, 2017

Oct. 30, 2016

Jul. 31, 2016

Apr. 29, 2018

Apr. 30, 2017

May 01, 2016

May 03, 2015

INCOME STATEMENT DATA

selling, general and administrative expenses

$ 78,184

$ 85,310

$ 80,698

$ 79,533

$ 77,350

$ 76,169

$ 75,343

$ 80,682

$ 323,725

$ 309,544

$ 312,860

cost of sales

63,424

67,707

64,894

63,068

60,194

59,410

58,442

62,263

259,092

240,309

247,749

gross profit

14,760

17,603

15,804

16,465

17,156

16,759

16,901

18,419

64,633

69,235

65,111

8,296

9,959

9,415

9,501

9,986

9,824

9,602

9,746

37,172

39,157

36,773

income from operations

6,464

7,644

6,389

6,964

7,170

6,935

7,299

8,673

27,461

30,078

28,338

interest expense

interest income

(143)

(132)

(128)

(131)

(134)

(124)

(15)

(25)

(534)

(299)

(176)

other expense

115

229

321

353

305

155

152

1,018

681

616

income before income taxes

6,466

7,516

6,159

6,742

6,999

6,990

7,159

8,546

26,883

29,696

27,898

Income taxes

(6,217)

8,208

2,108

1,640

778

643

2,684

3,233

5,740

7,339

10,963

loss from investment in unconsolidated joint venture

118

266

net income (loss)

12,666

(748)

3,976

4,984

6,198

6,347

4,475

5,313

20,877

22,334

16,935

depreciation

$ 1,992

$ 1,966

$ 1,905

$ 1,807

$ 1,781

$ 1,793

$ 1,751

$ 1,761

$ 7,672

$ 7,085

$ 6,671

weighted average shares outstanding

12,450,000

12,436,000

12,440,000

12,399,000

12,340,000

12,313,000

12,308,000

12,286,000

12,431,000

12,312,000

12,302,000

weighted average shares outstanding, assuming dilution

12,611,000

12,436,000

12,580,000

12,590,000

12,567,000

12,544,000

12,507,000

12,463,000

12,633,000

12,518,000

12,475,000

PER SHARE DATA

net income (loss) per share - basic

$ 1.02

$ (0.06)

$ 0.32

$ 0.40

$ 0.50

$ 0.52

$ 0.36

$ 0.43

$ 1.68

$ 1.81

$ 1.38

net income (loss) per share - diluted

1.00

(0.06)

0.32

0.40

0.49

0.51

0.36

0.43

$ 1.65

$ 1.78

$ 1.36

dividends per share

0.09

0.08

0.29

0.08

0.07

0.28

book value

$ 13.12

$ 12.22

$ 12.31

$ 12.03

$ 11.56

$ 11.04

$ 10.68

BALANCE SHEET DATA

operating working capital

^[1]

$ 49,939

$ 47,760

$ 46,620

$ 42,608

$ 40,869

$ 40,973

$ 41,810

$ 43,486

$ 49,939

$ 40,869

property, plant and equipment, net

51,794

51,838

52,530

52,912

51,651

50,333

45,537

41,745

51,794

51,651

217,984

216,844

201,043

207,904

205,634

191,056

179,127

183,360

217,984

205,634

$ 175,142