Superior Uniform Group works to keep its
business all sewn up. The company makes work clothing and
accessories for US employees in several industries. The
apparel firm designs, makes, and markets uniforms
for employees in the medical and health fields, as well
as those who work in hotels, fast food joints and other
restaurants, and public safety, industrial, and commercial markets.
About half of its products are sold under the Fashion Seal brand.
The company also makes and distributes specialty labels, such
as Martin's, Worklon, Blade, and UniVogue. Chairman Gerald
Benstock and his son, CEO Michael, run company, which began as
Superior Surgical Mfg. Co. in 1920.
From its headquarters in Florida, Superior Uniform serves to
outfit companies and customers nationwide, boasting manufacturing
operations overseas. Suppliers in Central American typically
produce more than 50% of the company's products. It
operates in El Salvador, Costa Rica, and the US through its The
Office Gurus businesses and an affiliate entity in Belize, added to
its operations at the end of 2012.
The company operates its business through two reportable
segments: Uniforms and Related Products (97% of sales) and Remote
Staffing Solutions, which includes The Office Gurus and TOG, an
affiliate firm that offers cost effective bilingual telemarketing
and office support services.
Demand for Superior's uniforms and service apparel largely
depends on the health of the economy. The economic downturn in the
US negatively impacted the uniform supplier's customers,
who closed locations, reduced headcounts, or eliminated uniforms to
In addition to the challenging economic climate, the dramatic
rise in cotton prices has the potential to pinch Superior
Uniform's profit margin. While the company has been able to
compensate for its higher materials costs by raising prices, it
warns at times that gross margins could be negatively impacted.
Due to a boost in market penetration, Superior Uniform logged a
6% net sales increase in fiscal 2012 as compared to 2011 across its
Uniforms and Related Products unit and 9% from its Remote Staffing
Solutions. Net income for the same reporting period declined 27%
due to the rising cost of goods sold -- primarily related to
cotton shortages in the Uniforms and Related Products business --
and increasing payroll-related costs across the Remote
Staffing Solutions segment.
Mergers and Acquisitions
In March 2016 Superior Uniform acquired BAMKO, Inc., a Los
Angeles-based merchandise sourcing and promotional products
company. It acquired BAMKO and its China, Brazil, and England
subsidiaries, as well as an India affiliate, for $15.8 million in
cash. BAMKO's products complement Superior Uniform's; however, the
acquisition expands the company's presence in China and India,
particularly its branded merchandise and promotional product
offerings. Superior Uniform operates BAMKO as a subsidiary.
The Benstock family owns nearly 23% of the company's shares.
Mochelle Stettner holds another 10% stake.