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Superior sales rise, profit drops in Q2

July 31, 2019 - Superior Group of Companies reported net income of $2.8 million, or 18 cents a share, on sales of $92.3 million for the second quarter of 2019. Sales were up 12 percent compared to Q2 2018, but profit dropped from $3.8 million or  25 cents a share in the year-ago quarter. Lower gross margins, severance charges, pension settlement costs and investments designed to position Superior for growth cut into earnings, the company said during a conference call with analysts. Superior (NASDAQ: SGC) is a  Seminole company with uniform, branding and call center operations.

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