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Superior CEO ‘not satisfied’ with Q3 sales dip

October 24, 2019 - Superior Group of Companies reported drops in sales and profit for the third quarter of 2019. Superior (Nasdaq: SGC), a Seminole-based firm with brand apparel, promotions and remote staffing operations, reported $3.9 million in net income, or 26 cents a share, on revenue of $89.5 million for the three months ended Sept. 30, compared to net income of $6.1 million, or 39 cents a share, on revenue of $95.9 million in the year-ago quarter. "We are not satisfied with the third quarter net sales decline, breaking our streak of 27 consecutive quarters of growth," Michael Benstock, CEO, told analysts, adding that the company made progress on long-term goals. The uniform segment lagged, while the remote staffing business delivered solid results and the promotional products operation had record sales growth, he said.

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