Pinellas company starts to feel impact of coronavirus
February 21, 2020 - Superior Group of Companies Inc. has begun to be negatively affected by actions taken to address and limit the spread of the coronavirus. Those actions include travel restrictions and limitations affecting the supply of labor and the movement of raw materials and finished products, Superior said in an annual report filed with the Securities and Exchange Commission. "If available manufacturing capacity is reduced as a result of the coronavirus, it could negatively affect the timely supply and pricing of finished products," the report said. Superior (Nasdaq: SGC), based in Seminole, sources products from China for use in uniform manufacturing and promotional products. The company reported $376.7 million in net sales for 2019, up 8.7 percent from 2018. Net income slipped in 2019 to $12.1 million, or 79 cents a share, compared to $17 million, or $1.10 a share, in 2018.