Superior Group of Companies, Inc. reports developments across Healthcare Apparel, Branded Products and Contact Centers. The company designs and distributes uniforms, healthcare apparel, customized merchandising solutions, promotional products and branded uniform programs, while its contact-center operations provide outsourced business process and call-center support services.
Recurring SGC news includes quarterly operating results, full-year outlook updates, dividend declarations, investor conference participation and capital-return actions. Company updates also reference portfolio efficiency, demand across its end markets, omnichannel commerce and shareholder programs tied to its apparel and branded-products businesses.
SEMINOLE, Fla., Sept. 12, 2022 – Superior Group of Companies (NASDAQ: SGC) announced participation in the Singular Autumn Equinox Virtual Webinar on September 15, 2022. CEO Michael Benstock and CFO Michael Koempel will present at 10:00 a.m. Eastern Time for approximately 30 minutes, followed by a 15-minute Q&A. The webinar will be accessible on SGC's investor relations page. Founded in 1920, SGC specializes in enhancing brand engagement experiences through service, quality, and technology.
Superior Group of Companies (SGC) has secured $200 million in senior secured financing commitments, enhancing its financial flexibility. The financing includes a $125 million revolving credit facility and a $75 million term loan, with the potential for an additional $75 million. Interest rates will be tied to the secured overnight financing rate plus an adjustment. Proceeds will partially refinance existing debt. CFO Mike Koempel emphasized the importance of this financing for future growth.
The Board of Directors of Superior Group of Companies (NASDAQ: SGC) has declared a quarterly dividend of $0.14 per share, payable on September 2, 2022, to shareholders recorded as of August 19, 2022. This dividend reflects the company's commitment to delivering value to its shareholders while continuing to support its diverse customer needs.
Superior Group of Companies reported Q2 2022 net sales of $147.9 million, a 13.1% increase from Q2 2021's $130.8 million. However, the company experienced a net loss of $26.7 million, compared to a net profit of $6.4 million in the prior year, influenced by $28 million in one-time non-cash charges. Branded products sales rose by 29%, and contact center sales surged 37%. The company is implementing cost-saving measures of at least $8 million annually while focusing on growth in three business segments: Healthcare Apparel, Branded Products, and Contact Centers.
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.
Summary not available.
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.