Home / Knowledge / News / Apparel/Garments / Sales up 6% at Superior Uniform in Q1
Sales up 6% at Superior Uniform in Q1
23
Apr '12
Superior Uniform Group Inc. manufacturer of uniforms, career apparel and accessories, announced that for the first quarter ended March 31, 2012, earnings were $327,000 or $0.05 per share (diluted) compared with $599,000 or $0.10 per share (diluted) reported for the quarter ended March 31, 2011. Net sales for the 2012 first quarter were $28,508,000 compared with 2011 first quarter sales of $26,899,000.

Michael Benstock, chief executive officer, commented: “We are pleased to report an increase of 6.0% in our net sales. Gross margins for our Uniform and Related Products business continued to be pressured in the first quarter of 2012, consistent with our expectations.

“As we indicated in our 2011 year-end earnings release, we ensured that we were in a position to take care of our customers by investing heavily in our raw material inventories during the cotton crisis of 2011.

“As a result, we were able to provide our products to our customers throughout the period of the shortages and were able to improve our market share in the process. However, as we work through the higher priced inventory we had built up during 2011, our gross margins were negatively impacted and we expect that they will continue to be pressured into the third quarter of 2012. We continued to see the benefits in this approach as we increased our market position in the first quarter of 2012.”

“We experienced positive growth in our remote staffing business, The Office Gurus. Net sales for the first quarter of 2012 were $688,000, compared to $576,000 in the prior year first quarter. We expect this vertical to continue to grow substantially going forward. Our financial position remains very strong and continues to provide us with the ability to invest in new ventures such as everyBODY media™ and The Office Gurus, as well as to continue to explore strategic acquisitions and stock buyback programs.”

Superior Uniform Group Inc. established in 1920, is one of America's foremost providers of fine uniforms and image apparel.

Superior Uniform Group Inc


Must ReadView All

Apparel/Garments | On 27th Jun 2017

Vietnam to build fashion, textile, trading centres

Vietnam's Ho Chi Minh City will build large centres for designing...

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search