Welcome to our dedicated page for Superior Group O news (Ticker: SGC), a resource for investors and traders seeking the latest updates and insights on Superior Group O stock.
Superior Group O (SGC) delivers essential updates for stakeholders tracking this diversified apparel leader. This dedicated news hub provides official press releases and verified developments across SGC's three core operations: corporate uniform solutions, branded promotional products, and integrated staffing services.
Investors and industry professionals will find timely updates on financial performance, strategic partnerships, and product innovations. Our curated collection serves as your primary source for earnings announcements, leadership changes, and operational milestones impacting healthcare, hospitality, and industrial markets.
Key updates include quarterly financial disclosures, major contract awards in the uniform sector, advancements in custom merchandising solutions, and expansions of remote staffing capabilities. Bookmark this page for direct access to SGC's latest corporate communications, maintained with strict adherence to factual reporting and regulatory compliance standards.
On August 1, 2022, Superior Group of Companies (SGC) announced its plan to release second-quarter 2022 operational results after the market closes on August 8, 2022. CEO Michael Benstock and CFO Mike Koempel will discuss the results during a teleconference at 5:00 PM ET on that date. Participants can join via specific dialing numbers provided for U.S. and international callers. A replay of the call will be available until August 22, 2022. SGC offers various brands and services, focusing on uniforms and promotional products, emphasizing customer engagement and service quality.
Superior Group of Companies (NASDAQ: SGC) has announced the appointment of Michael Koempel as the new Chief Financial Officer, effective May 31, 2022. Koempel brings over 30 years of financial experience from companies like IT'SUGAR and Victoria's Secret. He will succeed Andrew D. Demott, Jr., who will remain as Chief Operating Officer and Director until his retirement in 2023. SGC's CEO, Michael Benstock, expressed confidence in Koempel's ability to drive growth and leverage his expertise to advance the company's strategic initiatives.
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.
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