Welcome to our dedicated page for Superior Group of Companies news (Ticker: SGC), a resource for investors and traders seeking the latest updates and insights on Superior Group of Companies stock.
Superior Group of Companies, Inc. (NASDAQ: SGC) is a diversified enterprise specializing in the manufacture and sale of apparel and accessories across the United States and internationally. The company operates through three primary segments: Uniforms and Related Products, Remote Staffing Solutions, and Promotional Products.
In the Uniforms and Related Products segment, Superior Group produces and sells a wide array of uniforms and corporate identity apparel. This includes career apparel and accessories for personnel in hospitals, health facilities, hotels, food service facilities, retail stores, transportation, and various other sectors. The company also offers industrial laundry bags and promotional products for branded marketing programs.
The Remote Staffing Solutions segment provides outsourced and remote staffing services, contributing to the company's diversified business model. This segment supports various industries by offering customer service solutions and office support services.
The Promotional Products segment generates the highest revenue by producing and selling customized merchandising solutions, promotional products, and branded uniform programs. These products are designed to enhance brand engagement and create memorable experiences for customers and employees.
Founded in 1920, Superior Group of Companies has a long-standing commitment to quality, innovation, and customer service. The company leverages advanced technology and omnichannel commerce to maintain its competitive edge. Superior Group continues to pursue both organic growth and strategic acquisitions to enhance shareholder value.
Recently, the company announced it will release its fourth-quarter and full-year 2023 financial results on March 13, 2024. The announcement will be followed by a teleconference hosted by CEO Michael Benstock and CFO Mike Koempel. For more information, visit the company's website at www.superiorgroupofcompanies.com.
Superior Group of Companies offers a strong blend of traditional craftsmanship and modern innovation, ensuring it remains a key player in the apparel and remote staffing markets.
The Board of Directors of Superior Group of Companies (NASDAQ: SGC) declared a quarterly dividend of $0.14 per share, payable on June 7, 2022, to shareholders of record as of May 24, 2022.
Superior Group of Companies, established in 1920, specializes in customized branding and promotional products, offering services across various sectors including healthcare and employee uniforms.
Peter Benstock Retires, Welcomes Catherine Beldotti Donlan as New President
Superior Group of Companies (NASDAQ: SGC) announces the retirement of Peter Benstock, effective 2023, and the hiring of Catherine Beldotti Donlan as President of the Superior Uniform Group - Healthcare division. With nearly 25 years in the apparel and footwear industry, Beldotti Donlan brings experience from leadership roles at major brands like Converse and Puma. She aims to drive growth and innovation within the healthcare division, succeeding Peter Benstock, who led the division through challenging times, including the pandemic.
Superior Group of Companies (NASDAQ: SGC) reported a 1.9% increase in net sales for Q1 2022, totaling $143.6 million compared to $140.8 million in Q1 2021. However, pretax income fell to $6.7 million from $13.2 million. The company attributed strong growth in its promotional products and remote staffing segments, with the uniforms division rising 5.6% excluding PPE sales. The CEO announced plans to expand call center operations to the Dominican Republic and emphasized ongoing integration between branded uniforms and promotional products. Supply chain challenges and inflation are impacting operating margins.
BAMKO, part of Superior Group of Companies (SGC), has acquired Guardian Products, a top promotional products provider for automotive dealers, with trailing revenue of approximately $23 million. The acquisition, effective May 1, 2022, is expected to enhance BAMKO's market position, building on its prior acquisition of Sutter’s Mill Specialties. BAMKO is set to leverage existing infrastructure for growth, intending to dominate the automotive dealer segment and create significant sales opportunities.
Superior Group of Companies (NASDAQ: SGC) announced it will release Q1 2022 results on May 4, 2022, before the market opens. The company's leadership team, including CEO Michael Benstock, will host a teleconference at 2:00 p.m. ET the same day to discuss the financial results and answer questions. Interested participants can join via phone or through a live webcast. A replay of the call will be available for a limited time afterward. Superior Group is known for its uniform brands and custom promotional products, serving a diverse client base.
Superior Group of Companies reported a net sales increase of 2% to $537 million for 2021. Fourth-quarter net sales were $142 million, down 2.3% from 2020. The company revised tax expenses showing a $2.2 million reduction, boosting net income for 2021 to $29.4 million or $1.83 per share. Challenges included a noncash pension termination charge of $7.8 million and a $2 million write-down on PPE inventory. Despite these issues, management remains optimistic about future growth, having exceeded sales guidance for 2021.
Superior Group of Companies (NASDAQ: SGC) reported its fourth-quarter and annual results for 2021. Annual net sales rose 2% to $537 million, despite a significant drop in PPE sales, which fell to $38.6 million from $131.2 million in 2020. The company's net income for 2021 was $27.2 million, down from $41 million in 2020, primarily due to a $7.8 million noncash pension plan termination charge. Fourth-quarter net sales decreased 2.3% year-over-year to $142 million, with net income also declining to $4 million, or $0.25 per diluted share.
Superior Group of Companies (SGC) announced participation in the D.A. Davidson 5th Annual Consumer Growth Conference on March 10, 2022. CEO Michael Benstock and COO Andrew D. Demott, Jr. will engage in virtual meetings and a fireside chat at 11:00 a.m. ET. Interested parties can access the webcast through the company's investor relations page. Established in 1920, SGC specializes in uniforms and promotional products, supporting millions of American workers daily. The company emphasizes customer-centric services across various sectors.
Superior Group of Companies, Inc. (SGC) is set to release its fourth quarter and fiscal year 2021 results on March 9, 2022, before market opening. The teleconference will be hosted by CEO Michael Benstock and COO Andrew D. Demott, Jr. at 10:00 a.m. Eastern Time. Investors can join the call via specific dialing numbers provided or access the webcast on the company's investor section. A replay will be available after the call through March 30, 2022. Established in 1920, SGC delivers innovative branding and uniform solutions across various sectors.
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