−Removed: Our corporate headquarters are located in High Point, North Carolina.
−Removed: As of the end of fiscal 2021 (May 2, 2021), we leased our corporate headquarters and owned or leased seventeen facilities associated with our mattress and upholstery fabrics operations.
+Added: As of the end of fiscal 2022 (May 1, 2022), we leased our corporate headquarters and a design and innovation campus located in High Point, NC.
+Added: In addition, we owned or leased seventeen facilities associated with our mattress and upholstery fabrics operations.
The following is a list of our administrative and production facilities.
4 unchanged sentences
Upholstery fabric division offices and corporate headquarters
+Added: High Point, North Carolina
+Added: Design and innovation campus, showrooms, and office space
● Mattress Fabrics:
33 unchanged sentences
These lease agreements have an unspecified number of renewal options available, and the year listed above is the expiration of the current lease term.
−Removed: In April of fiscal 2021 we entered into an agreement to lease this facility with an initial non-cancelable lease term of eight years and an unspecified number of renewal options.
−Removed: The commencement of the lease term will occur after the construction of the facility is complete, which is expected to be during the second quarter of fiscal 2022 (See Note 13 of the consolidated financial statements for further details).
We believe that our facilities are in good condition, well-maintained, suitable, and adequate for present utilization.
1 unchanged sentence
This ability to source upholstery fabric is part of our long-term strategy to have a low-cost platform that is scalable, but not capital intensive.
−Removed: In the mattress fabrics segment, management has estimated that it is currently performing at near capacity.
−Removed: Also, we have the ability to source additional mattress fabric from outside suppliers to further increase our ultimate output of finished goods.
+Added: In the mattress fabrics segment, we believe we have sufficient capacity to meet current and expected demand trends.
+Added: We also have the ability to source additional mattress fabrics from outside suppliers to further increase our ultimate output of finished goods.
LEGA L PROCEEDINGS
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.